Electrum Group LLC Makes New Investment in Coeur Mining, Inc. $CDE

Electrum Group LLC bought a new position in Coeur Mining, Inc. (NYSE:CDE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 481,315 shares of the basic materials company’s stock, valued at approximately $8,582,000. Coeur Mining makes up approximately 0.7% of Electrum Group LLC’s portfolio, making the stock its 8th biggest holding. Electrum Group LLC owned 0.07% of Coeur Mining at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CDE. EverSource Wealth Advisors LLC boosted 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 worth $30,000 after acquiring an additional 1,435 shares in the last quarter. Kingdom Financial Group LLC. bought a new stake in Coeur Mining in the fourth quarter worth $32,000. JPL Wealth Management LLC bought a new stake in Coeur Mining in the third quarter worth $35,000. Lodestone Wealth Management LLC bought a new stake in Coeur Mining in the fourth quarter worth $36,000. Finally, Sound Income Strategies LLC raised its stake 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 purchasing an additional 996 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CDE. ATB Cormark Capital Markets upgraded Coeur Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, March 24th. BMO Capital Markets began coverage on Coeur Mining in a research note on Wednesday, March 25th. They issued an “outperform” rating and a $27.00 price target for the company. Cantor Fitzgerald cut Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research note on Thursday, May 7th. Wall Street Zen cut Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Canadian Imperial Bank of Commerce began coverage on Coeur Mining in a research note on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.56.

Coeur Mining Stock Down 3.8%

CDE stock opened at $16.10 on Wednesday. Coeur Mining, Inc. has a 1-year low of $8.46 and a 1-year high of $27.77. The business has a fifty day moving average price of $18.62 and a 200-day moving average price of $19.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.73 and a quick ratio of 2.14. The stock has a market capitalization of $16.65 billion, a P/E ratio of 13.88 and a beta of 1.25.

Coeur Mining (NYSE:CDE) last posted 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 for the quarter, compared to analysts’ expectations of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The firm’s revenue was up 137.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 EPS. Equities analysts forecast that Coeur Mining, Inc. will post 1.46 earnings per share for the current fiscal year.

Coeur Mining Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be given a dividend of $0.02 per share. This represents a yield of 23.0%. The ex-dividend date is Friday, May 22nd. Coeur Mining’s dividend payout ratio is 3.45%.

Insider Buying and Selling

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $18.60, for a total transaction of $725,400.00. Following the completion of the sale, the chief accounting officer owned 77,204 shares in the company, valued at approximately $1,435,994.40. This represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

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.