Arizona State Retirement System Has $4.84 Million Stock Position in Coeur Mining, Inc. $CDE

Key Points

• Arizona State Retirement System increased its Coeur Mining stake by 68.1% in the second quarter, bringing its holdings to 296,611 shares valued at approximately $4.84 million. Institutional investors collectively own 63.01% of the company.
• Coeur Mining reported quarterly revenue of $1.09 billion, up 125.8% year over year, but earnings of $0.12 per share fell short of analysts’ $0.26 estimate. Insiders have sold 51,000 shares worth about $1.06 million over the past 90 days.
• CDE shares opened at $20.59, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $25.50; individual targets range from $19.00 to $26.50.

Arizona State Retirement System lifted its position in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 68.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,611 shares of the basic materials company's stock after buying an additional 120,212 shares during the period. Arizona State Retirement System's holdings in Coeur Mining were worth $4,841,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in Coeur Mining by 92.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company's stock valued at $524,669,000 after acquiring an additional 13,418,041 shares during the period. California State Teachers Retirement System raised its position in shares of Coeur Mining by 2,107.0% during the second quarter. California State Teachers Retirement System now owns 26,468,951 shares of the basic materials company's stock worth $431,973,000 after purchasing an additional 25,269,622 shares during the period. State Street Corp raised its position in shares of Coeur Mining by 6.7% during the fourth quarter. State Street Corp now owns 24,250,702 shares of the basic materials company's stock worth $432,390,000 after purchasing an additional 1,529,394 shares during the period. Tidal Investments LLC lifted its holdings in shares of Coeur Mining by 55.3% during the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company's stock valued at $183,709,000 after purchasing an additional 7,382,955 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Coeur Mining by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company's stock valued at $277,953,000 after purchasing an additional 524,646 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Insider Transactions at Coeur Mining

In other news, CFO Thomas S. Whelan sold 6,000 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total value of $125,220.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director J. Kenneth Thompson sold 25,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total transaction of $519,250.00. Following the transaction, the director owned 257,333 shares of the company's stock, valued at $5,344,806.41. The trade was a 8.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 51,000 shares of company stock valued at $1,055,070 in the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Coeur Mining Stock Up 1.2%

CDE stock opened at $20.59 on Friday. 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 capitalization of $21.16 billion, a P/E ratio of 17.60 and a beta of 1.39. The business has a 50-day moving average of $18.02 and a 200-day moving average of $18.73. Coeur Mining, Inc. has a fifty-two week low of $13.55 and a fifty-two week high of $27.77.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.24 billion. Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.The firm's quarterly revenue was up 125.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. On average, sell-side analysts anticipate that Coeur Mining, Inc. will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CDE. Weiss Ratings reissued a "hold (c+)" rating on shares of Coeur Mining in a research note on Wednesday, June 24th. Zacks Research raised shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. Roth Capital set a $19.00 price target on shares of Coeur Mining in a report on Friday, August 7th. Finally, Scotiabank lowered their price objective on shares of Coeur Mining from $28.50 to $26.50 and set an "outperform" rating for the company in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.50.

Coeur Mining Company Profile

Coeur Mining, Inc NYSE: CDE is a precious metals mining company that explores for, develops, and produces gold and silver. The company's activities include mine operations, mineral exploration, project development, processing, and the sale of refined or doré metals to commercial customers.

Coeur's operating and development portfolio has included assets in the United States, Mexico, and Canada. Key operations have included the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, the Palmarejo silver-gold complex in Chihuahua, Mexico, and the Las Chispas silver-gold operation in Sonora, Mexico.

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