Bessemer Group Inc. Grows Stock Position in Coeur Mining, Inc. $CDE

Key Points

• Bessemer Group Inc. dramatically increased its stake in Coeur Mining by 11,114.4% in the first quarter, ending with 907,915 shares valued at about $17.0 million.
• Other institutional investors also added to their CDE positions, and hedge funds and institutions now own 63.01% of the company’s stock.
• Wall Street remains generally positive on Coeur Mining, with an average Moderate Buy rating and a consensus price target of $26.39, even though the stock recently traded down 2.9% and the latest earnings slightly missed EPS expectations.

Bessemer Group Inc. raised its position in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 11,114.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 907,915 shares of the basic materials company's stock after acquiring an additional 899,819 shares during the quarter. Bessemer Group Inc. owned 0.14% of Coeur Mining worth $17,041,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CDE. Allworth Financial LP lifted its position in shares of Coeur Mining by 20.9% during the fourth quarter. Allworth Financial LP now owns 2,994 shares of the basic materials company's stock worth $53,000 after purchasing an additional 517 shares in the last quarter. Grand Central Investment Group grew its holdings in Coeur Mining by 1.5% during the 1st quarter. Grand Central Investment Group now owns 40,514 shares of the basic materials company's stock valued at $760,000 after purchasing an additional 612 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Coeur Mining by 7.5% during the 1st quarter. Sanctuary Advisors LLC now owns 11,809 shares of the basic materials company's stock worth $222,000 after buying an additional 820 shares during the period. Baader Bank Aktiengesellschaft increased its stake in 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 buying an additional 935 shares during the period. Finally, Sound Income Strategies LLC increased its stake in 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 buying an additional 996 shares during the period. Hedge funds and other institutional investors own 63.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CDE. BMO Capital Markets started coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They issued an "outperform" rating and a $27.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Scotiabank reiterated an "outperform" rating and issued a $28.50 price target on shares of Coeur Mining in a research note on Tuesday. Canaccord Genuity Group raised 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, Cantor Fitzgerald downgraded 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. One 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 data from MarketBeat, Coeur Mining presently has an average rating of "Moderate Buy" and an average target price of $26.39.

Coeur Mining Trading Down 2.9%

CDE opened at $14.36 on Friday. The stock has a market capitalization of $14.85 billion, a PE ratio of 12.38 and a beta of 1.29. The firm's fifty day moving average price is $17.22 and its 200 day moving average price is $19.59. 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, Inc. has a 12-month low of $8.56 and a 12-month high of $27.77.

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 the consensus estimate of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The company's revenue was up 137.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. As a group, research analysts expect that Coeur Mining, Inc. will post 1.38 EPS for the current fiscal year.

Coeur Mining Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a dividend yield of 23.0%. Coeur Mining's dividend payout ratio (DPR) is presently 3.45%.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the 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 transaction, the chief accounting officer owned 77,204 shares of the company's stock, valued at approximately $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

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.

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