HITE Hedge Asset Management LLC Purchases Shares of 274,671 Coeur Mining, Inc. $CDE

HITE Hedge Asset Management LLC purchased a new stake in shares of Coeur Mining, Inc. (NYSE:CDE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 274,671 shares of the basic materials company’s stock, valued at approximately $4,897,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP raised its holdings in Coeur Mining by 20.9% in the fourth quarter. Allworth Financial LP now owns 2,994 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 517 shares in the last quarter. Baader Bank Aktiengesellschaft raised its holdings in Coeur Mining by 2.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 34,090 shares of the basic materials company’s stock valued at $608,000 after acquiring an additional 935 shares in the last quarter. Sound Income Strategies LLC raised its holdings in 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 valued at $36,000 after acquiring an additional 996 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Coeur Mining by 12.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,650 shares of the basic materials company’s stock valued at $190,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Triumph Capital Management raised its holdings in 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. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CDE. Weiss Ratings cut shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 27th. Canadian Imperial Bank of Commerce assumed coverage on shares of Coeur Mining in a report on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 price target on the stock. 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. ATB Cormark Capital Markets raised shares of Coeur Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, March 24th. Finally, Canaccord Genuity Group raised shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.28.

Coeur Mining Stock Up 4.9%

Shares of NYSE:CDE opened at $17.20 on Friday. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 14.83 and a beta of 1.25. Coeur Mining, Inc. has a 1-year low of $8.46 and a 1-year high of $27.77. The company’s fifty day moving average is $18.52 and its two-hundred day moving average is $19.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73.

Coeur Mining (NYSE:CDE) last issued its earnings results 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 business had revenue of $856.19 million for the quarter, compared to analyst estimates of $815.59 million. Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The firm’s revenue for the quarter was up 137.8% on a year-over-year basis. During the same period last year, the company posted $0.11 earnings per share. Equities analysts anticipate that Coeur Mining, Inc. will post 1.46 EPS for the current year.

Coeur Mining Announces Dividend

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

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $18.60, for a total transaction of $725,400.00. Following the sale, the chief accounting officer directly owned 77,204 shares of the company’s stock, valued at approximately $1,435,994.40. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.