SEB Asset Management AB Acquires New Position in Coeur Mining, Inc. $CDE

SEB Asset Management AB bought a new position in Coeur Mining, Inc. (NYSE:CDE) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 73,080 shares of the basic materials company’s stock, valued at approximately $1,372,000.

Other institutional investors have also modified their holdings of the company. Tidal Investments LLC grew its stake in Coeur Mining by 55.3% in the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock worth $183,709,000 after purchasing an additional 7,382,955 shares in the last quarter. Norges Bank bought a new stake in Coeur Mining during the 4th quarter valued at $128,389,000. Goldman Sachs Group Inc. lifted its holdings in shares of Coeur Mining by 92.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company’s stock worth $222,922,000 after buying an additional 6,012,718 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Coeur Mining by 38.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,303,254 shares of the basic materials company’s stock worth $268,329,000 after buying an additional 3,982,085 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in shares of Coeur Mining by 38.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 8,537,254 shares of the basic materials company’s stock valued at $152,219,000 after buying an additional 2,366,413 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Canaccord Genuity Group upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, April 29th. Cantor Fitzgerald cut shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Scotiabank reaffirmed an “outperform” rating and issued a $28.50 price target on shares of Coeur Mining in a research report on Tuesday, July 14th. Finally, Roth Capital reiterated a “buy” rating and set a $25.00 price objective on shares of Coeur Mining in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.39.

Coeur Mining Trading Down 3.9%

CDE opened at $15.22 on Friday. The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 13.13 and a beta of 1.29. Coeur Mining, Inc. has a 12 month low of $8.56 and a 12 month high of $27.77. The stock has a fifty day moving average price of $16.85 and a 200-day moving average price of $19.53.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $856.19 million for the quarter, compared to the consensus estimate of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. Coeur Mining’s revenue for the quarter was up 137.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. As a group, equities research analysts anticipate that Coeur Mining, Inc. will post 1.25 earnings per share for the current fiscal year.

Coeur Mining Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a $0.02 dividend. This represents a dividend yield of 23.0%. The ex-dividend date was Friday, May 22nd. Coeur Mining’s dividend payout ratio (DPR) is currently 3.45%.

Insider Buying and Selling at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.60, for a total value of $725,400.00. Following the transaction, the chief accounting officer owned 77,204 shares of the company’s stock, valued at $1,435,994.40. The trade was a 33.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.