NewGen Asset Management Ltd Sells 92,800 Shares of Coeur Mining, Inc. $CDE

NewGen Asset Management Ltd decreased its position in Coeur Mining, Inc. (NYSE:CDE) by 12.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 625,000 shares of the basic materials company’s stock after selling 92,800 shares during the period. Coeur Mining accounts for 4.5% of NewGen Asset Management Ltd’s portfolio, making the stock its 5th largest position. NewGen Asset Management Ltd’s holdings in Coeur Mining were worth $11,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDE. Triumph Capital Management lifted its position in Coeur Mining by 300.0% during the 4th quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 1,200 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Coeur Mining by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock valued at $30,000 after buying an additional 1,435 shares during the period. Kingdom Financial Group LLC. acquired a new position in Coeur Mining in the fourth quarter valued at approximately $32,000. Kemnay Advisory Services Inc. bought a new position in Coeur Mining in the fourth quarter valued at approximately $33,000. Finally, Transamerica Financial Advisors LLC bought a new position in Coeur Mining in the fourth quarter valued at approximately $34,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Coeur Mining Price Performance

Shares of CDE stock opened at $14.17 on Tuesday. Coeur Mining, Inc. has a 12-month low of $8.56 and a 12-month high of $27.77. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 12.21 and a beta of 1.29. 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 fifty day moving average of $17.11 and a 200-day moving average of $19.57.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data 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). 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%. Coeur Mining’s quarterly revenue was up 137.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, equities research analysts forecast that Coeur Mining, Inc. will post 1.38 earnings per share for the current year.

Coeur Mining Dividend Announcement

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

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.60, for a total transaction of $725,400.00. Following the transaction, the chief accounting officer owned 77,204 shares in the company, valued at $1,435,994.40. The trade was a 33.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank reaffirmed an “outperform” rating and set a $28.50 price objective on shares of Coeur Mining in a research note on Tuesday, July 14th. Roth Capital reiterated a “buy” rating and issued a $25.00 price objective on shares of Coeur Mining in a report on Friday, May 8th. Zacks Research cut Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Finally, ATB Cormark Capital Markets upgraded Coeur Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Coeur Mining currently has an average rating of “Moderate Buy” and an average target price of $26.39.

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.