Van ECK Associates Corp Sells 4,542,277 Shares of Coeur Mining, Inc. $CDE

Van ECK Associates Corp cut its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 6.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 61,459,916 shares of the basic materials company’s stock after selling 4,542,277 shares during the period. Coeur Mining accounts for about 0.9% of Van ECK Associates Corp’s portfolio, making the stock its 27th biggest position. Van ECK Associates Corp owned about 0.10% of Coeur Mining worth $1,095,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Triumph Capital Management grew its holdings in shares of Coeur Mining by 300.0% in the fourth quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 1,200 shares in the last quarter. Kingdom Financial Group LLC. purchased a new stake in Coeur Mining in the 4th quarter worth about $32,000. JPL Wealth Management LLC purchased a new stake in Coeur Mining in the 3rd quarter worth about $35,000. Lodestone Wealth Management LLC bought a new position in shares of Coeur Mining in the fourth quarter worth $36,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Coeur Mining by 99.2% in the fourth quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 996 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CDE. Canadian Imperial Bank of Commerce began coverage on Coeur Mining in a research note on Tuesday, March 10th. They set an “outperform” rating and a $40.00 price objective for the company. BMO Capital Markets initiated coverage on Coeur Mining in a research report on Wednesday, March 25th. They set an “outperform” rating and a $27.00 price target on the stock. 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 report on Wednesday, April 29th. ATB Cormark Capital Markets upgraded Coeur Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings lowered shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Coeur Mining has a consensus rating of “Moderate Buy” and an average target price of $26.28.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $18.60, for a total value of $725,400.00. Following the sale, the chief accounting officer directly 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 document filed with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Coeur Mining Stock Performance

Shares of CDE opened at $17.20 on Friday. 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 business’s 50 day moving average price is $18.52 and its 200-day moving average price is $19.68. Coeur Mining, Inc. has a 52 week low of $8.46 and a 52 week high of $27.77. The stock has a market cap of $17.80 billion, a P/E ratio of 14.83 and a beta of 1.25.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The company had revenue of $856.19 million during the quarter, compared to the consensus estimate of $815.59 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was up 137.8% compared to the same quarter last year. Equities research analysts anticipate that Coeur Mining, Inc. will post 1.46 earnings per share for the current fiscal year.

Coeur Mining Dividend Announcement

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

Coeur Mining Company 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.