Assenagon Asset Management S.A. Increases Stake in Coeur Mining, Inc. $CDE

Key Points

• Assenagon Asset Management boosted its stake in Coeur Mining by 322.5% in the first quarter, holding 1,095,892 shares worth about $20.6 million after buying 836,501 additional shares.
• Wall Street sentiment is mixed but generally positive: Coeur Mining has an average “Moderate Buy” rating, with analysts’ average price target at $26.28.
• The company reported strong quarterly revenue growth, with revenue up 137.8% year over year to $856.19 million, though EPS slightly missed estimates at $0.36 versus $0.37 expected.

Assenagon Asset Management S.A. increased its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 322.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,095,892 shares of the basic materials company's stock after acquiring an additional 836,501 shares during the quarter. Assenagon Asset Management S.A. owned about 0.17% of Coeur Mining worth $20,570,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Coeur Mining by 20.9% during the 4th quarter. Allworth Financial LP now owns 2,994 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 517 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in shares of Coeur Mining by 2.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 34,090 shares of the basic materials company's stock worth $608,000 after purchasing an additional 935 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Coeur Mining by 99.2% during the 4th quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company's stock worth $36,000 after acquiring an additional 996 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Coeur Mining by 0.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 122,722 shares of the basic materials company's stock valued at $2,188,000 after purchasing an additional 1,142 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Coeur Mining by 12.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,650 shares of the basic materials company's stock valued at $190,000 after buying an additional 1,156 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CDE. Cantor Fitzgerald lowered Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price objective for the company. in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Coeur Mining in a research note on Wednesday. Canaccord Genuity Group raised shares of Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a research note on Wednesday, April 29th. Roth Mkm reaffirmed a "buy" rating and set a $25.00 price objective on shares of Coeur Mining in a research report on Friday, May 8th. Finally, ATB Cormark Capital Markets upgraded shares of Coeur Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Coeur Mining currently has an average rating of "Moderate Buy" and an average price target of $26.28.

Insiders Place Their Bets

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining stock in a transaction that occurred 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 owned 77,204 shares in the company, valued at $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Coeur Mining Stock Performance

CDE opened at $16.04 on Friday. The stock has a market cap of $16.59 billion, a P/E ratio of 13.83 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 stock's 50 day simple moving average is $18.01 and its 200 day simple moving average is $19.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.73 and a quick ratio of 2.14.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The company had revenue of $856.19 million for the quarter, compared to analysts' expectations of $815.59 million. Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The company's revenue for the quarter was up 137.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS. As a group, equities analysts anticipate that Coeur Mining, Inc. will post 1.46 EPS for the current fiscal year.

Coeur Mining Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were issued a $0.02 dividend. This represents a yield of 23.0%. The ex-dividend date was Friday, May 22nd. Coeur Mining's dividend payout ratio is currently 3.45%.

About Coeur Mining

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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