Arrowstreet Capital Limited Partnership Has $524.67 Million Stake in Coeur Mining, Inc. $CDE

Key Points

• Arrowstreet Capital significantly increased its stake in Coeur Mining, boosting holdings by 92.1% in the first quarter to 27.98 million shares, worth about $524.7 million.
• Coeur Mining reported Q1 revenue of $856.19 million, topping estimates, but earnings of $0.36 per share slightly missed expectations by $0.01. Revenue jumped 137.8% year over year.
• Analysts remain mixed on the stock: the consensus rating is Moderate Buy with an average price target of $26.39, though some firms recently downgraded the shares while others reiterated bullish targets.

Arrowstreet Capital Limited Partnership grew its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 92.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,981,273 shares of the basic materials company's stock after buying an additional 13,418,041 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 4.36% of Coeur Mining worth $524,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CDE. AQR Capital Management LLC raised its holdings 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 worth $4,434,000 after purchasing an additional 281,489 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Coeur Mining by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company's stock valued at $49,449,000 after buying an additional 1,278,110 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Coeur Mining by 122.6% in 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 valued at $14,393,000 after buying 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 valued at $60,000. Finally, Intech Investment Management LLC increased its position 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 valued at $1,594,000 after buying an additional 99,256 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Coeur Mining Price Performance

Shares of CDE opened at $15.22 on Friday. The stock has a market capitalization of $15.75 billion, a P/E ratio of 13.13 and a beta of 1.29. Coeur Mining, Inc. has a twelve month low of $8.56 and a twelve month high of $27.77. The company has a 50 day moving average of $16.85 and a 200-day moving average of $19.53. The company has a quick ratio of 2.14, a current ratio of 3.73 and a debt-to-equity ratio of 0.07.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The business had revenue of $856.19 million during the quarter, compared to analyst estimates of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. Coeur Mining's revenue for the quarter was up 137.8% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. As a group, equities research analysts forecast that Coeur Mining, Inc. will post 1.25 EPS for the current fiscal year.

Coeur Mining Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were paid 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 dividend payout ratio is currently 3.45%.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.60, for a total value of $725,400.00. Following the completion of the transaction, the chief accounting officer owned 77,204 shares in the company, valued at $1,435,994.40. This trade represents a 33.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Roth Capital reaffirmed a "buy" rating and set a $25.00 price objective on shares of Coeur Mining in a research note on Friday, May 8th. Zacks Research cut Coeur Mining from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. Wall Street Zen downgraded Coeur Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Finally, Scotiabank reiterated an "outperform" rating and set a $28.50 price objective on shares of Coeur Mining in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $26.39.

Coeur Mining Company 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.

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