Sierra Summit Advisors LLC Takes Position in Coeur Mining, Inc. $CDE

Sierra Summit Advisors LLC acquired a new stake in Coeur Mining, Inc. (NYSE:CDE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 52,086 shares of the basic materials company’s stock, valued at approximately $929,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Leonteq Securities AG acquired a new position in shares of Coeur Mining in the 4th quarter valued at about $286,000. Rathbones Group PLC lifted its stake in shares of Coeur Mining by 146.0% in the 4th quarter. Rathbones Group PLC now owns 173,349 shares of the basic materials company’s stock valued at $3,091,000 after purchasing an additional 102,869 shares in the last quarter. Harvest Portfolios Group Inc. lifted its stake in shares of Coeur Mining by 18.2% during the fourth quarter. Harvest Portfolios Group Inc. now owns 116,332 shares of the basic materials company’s stock worth $2,074,000 after purchasing an additional 17,901 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Coeur Mining by 12.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,650 shares of the basic materials company’s stock worth $190,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Coeur Mining by 5.4% during the fourth quarter. Handelsbanken Fonder AB now owns 183,626 shares of the basic materials company’s stock worth $3,274,000 after purchasing an additional 9,400 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDE has been the topic of a number of recent research reports. Canaccord Genuity Group upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, April 29th. Roth Mkm restated a “buy” rating and set a $25.00 price objective on shares of Coeur Mining in a research note on Friday, May 8th. Weiss Ratings cut Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 27th. Royal Bank Of Canada boosted their price objective on Coeur Mining from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce initiated coverage on Coeur Mining in a research note on Tuesday, March 10th. They set an “outperform” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.56.

Coeur Mining Stock Up 5.9%

Shares of Coeur Mining stock opened at $17.76 on Thursday. The company has a quick ratio of 2.14, a current ratio of 3.73 and a debt-to-equity ratio of 0.07. The firm has a market cap of $18.37 billion, a P/E ratio of 15.31 and a beta of 1.24. Coeur Mining, Inc. has a fifty-two week low of $7.54 and a fifty-two week high of $27.77. The business has a 50-day moving average price of $19.03 and a 200 day moving average price of $19.36.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $856.19 million during 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%. The firm’s quarterly revenue was up 137.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share. On average, sell-side analysts forecast that Coeur Mining, Inc. will post 1.46 earnings per share for the current fiscal year.

Coeur Mining Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a dividend yield of 20.0%.

Coeur Mining Profile

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.