180,564 Shares in Coeur Mining, Inc. $CDE Bought by PVG Asset Management Corp

Key Points

• PVG Asset Management purchased 180,564 shares of Coeur Mining worth approximately $3.37 million, making the stock its fifth-largest holding and about 2.4% of its portfolio. Institutional investors and hedge funds own 63.01% of the company.
• Coeur Mining reported quarterly revenue of $856.19 million, up 137.8% year over year and above estimates, though earnings of $0.36 per share slightly missed expectations. Analysts expect full-year EPS of $1.25.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $26.39 versus the reported share price of $14.91, despite recent insider selling and mixed rating changes.

PVG Asset Management Corp bought a new stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 180,564 shares of the basic materials company's stock, valued at approximately $3,369,000. Coeur Mining makes up about 2.4% of PVG Asset Management Corp's investment portfolio, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Coeur Mining by 212.6% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 66,134 shares of the basic materials company's stock worth $1,241,000 after buying an additional 44,977 shares during the last quarter. Parallel Advisors LLC raised its holdings in Coeur Mining by 181.8% during the first quarter. Parallel Advisors LLC now owns 3,260 shares of the basic materials company's stock worth $61,000 after acquiring an additional 2,103 shares in the last quarter. Optiver Holding B.V. acquired a new position in Coeur Mining during the first quarter valued at approximately $167,000. Glenmede Trust Co. NA grew its stake in Coeur Mining by 3.8% in the first quarter. Glenmede Trust Co. NA now owns 48,942 shares of the basic materials company's stock valued at $919,000 after purchasing an additional 1,771 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. bought a new position in Coeur Mining in the first quarter valued at approximately $359,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Coeur Mining Price Performance

Shares of CDE opened at $14.91 on Monday. The company's 50-day moving average is $16.55 and its 200-day moving average is $19.32. 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 firm has a market capitalization of $15.43 billion, a PE ratio of 12.86 and a beta of 1.32. Coeur Mining, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $27.77.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $815.59 million. During the same period in the previous year, the firm posted $0.11 EPS. The business's quarterly revenue was up 137.8% on a year-over-year basis. Equities analysts forecast that Coeur Mining, Inc. will post 1.25 EPS for the current year.

Coeur Mining Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, June 10th. Stockholders 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 was Friday, May 22nd. Coeur Mining's payout ratio is currently 3.45%.

Insider Activity

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the company'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 transaction, the chief accounting officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Zacks Research cut Coeur Mining from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. Scotiabank reissued an "outperform" rating and issued a $28.50 price objective on shares of Coeur Mining in a research report on Tuesday, July 14th. Roth Capital reiterated a "buy" rating and issued a $25.00 target price on shares of Coeur Mining in a research note on Friday, May 8th. Canaccord Genuity Group upgraded Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price target for the company in a report on Wednesday, April 29th. Finally, Wall Street Zen downgraded Coeur Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Coeur Mining currently has an average rating of "Moderate Buy" and an average price target of $26.39.

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.

Want to see what other hedge funds are holding CDE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coeur Mining, Inc. (NYSE:CDE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source