Electrum Group LLC Acquires New Position in Coeur Mining, Inc. $CDE

Electrum Group LLC acquired a new position in shares of Coeur Mining, Inc. (NYSE:CDE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 200,315 shares of the basic materials company’s stock, valued at approximately $3,269,141,000. Coeur Mining accounts for 0.1% of Electrum Group LLC’s portfolio, making the stock its 10th biggest position.

A number of other large investors have also recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Coeur Mining by 60.2% in the first quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock valued at $4,434,000 after acquiring an additional 281,489 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Coeur Mining by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock worth $49,449,000 after purchasing an additional 1,278,110 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Coeur Mining by 122.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock worth $14,393,000 after purchasing an additional 1,339,138 shares during the period. Focus Partners Wealth bought a new stake in shares of Coeur Mining in the 1st quarter worth approximately $60,000. Finally, Intech Investment Management LLC lifted its holdings in shares of Coeur Mining by 58.4% in the 1st quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock worth $1,594,000 after purchasing an additional 99,256 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

CDE has been the subject of a number of analyst reports. Canaccord Genuity Group upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, April 29th. Scotiabank cut their target price on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Cantor Fitzgerald downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a report on Thursday, May 7th. Zacks Research lowered shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Finally, Roth Capital set a $19.00 price objective on shares of Coeur Mining in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Coeur Mining has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Coeur Mining Stock Down 4.1%

CDE opened at $18.52 on Wednesday. Coeur Mining, Inc. has a 12 month low of $11.23 and a 12 month high of $27.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44. The stock has a market cap of $19.04 billion, a P/E ratio of 15.83 and a beta of 1.32. The stock’s 50 day moving average price is $16.50 and its 200 day moving average price is $18.84.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.14). Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm posted $0.20 EPS. The company’s revenue was up 125.8% compared to the same quarter last year. As a group, research analysts predict that Coeur Mining, Inc. will post 0.95 earnings per share for the current year.

Insider Buying and Selling at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining stock in a transaction dated 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 in the company, valued at $1,435,994.40. The trade was 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 through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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.