Coeur Mining, Inc. $CDE Shares Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments raised its stake in Coeur Mining shares by 78.9% during the second quarter, owning over 1.8 million shares worth approximately $16.4 million.
• Coeur Mining's earnings report showed an EPS of $0.20, exceeding analysts' estimates, with revenue increasing 116.5% year-over-year to $480.65 million.
• Institutional ownership of Coeur Mining stock is significant, with 63.01% of shares held by institutional investors and hedge funds, indicating strong market confidence.

Allspring Global Investments Holdings LLC raised its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 78.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,828,456 shares of the basic materials company's stock after purchasing an additional 806,482 shares during the period. Allspring Global Investments Holdings LLC owned 0.29% of Coeur Mining worth $16,401,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CDE. Vanguard Group Inc. lifted its stake in shares of Coeur Mining by 57.3% in the 1st quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock worth $378,903,000 after acquiring an additional 23,303,638 shares during the period. Sprott Inc. lifted its stake in shares of Coeur Mining by 889.3% in the 1st quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock worth $66,963,000 after acquiring an additional 10,180,102 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Coeur Mining by 72.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,040,649 shares of the basic materials company's stock worth $106,801,000 after acquiring an additional 7,579,901 shares during the period. Pale Fire Capital SE acquired a new stake in shares of Coeur Mining in the 1st quarter worth approximately $29,143,000. Finally, Nuveen LLC acquired a new stake in shares of Coeur Mining in the 1st quarter worth approximately $27,519,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Stock Down 8.9%

CDE stock opened at $21.04 on Friday. Coeur Mining, Inc. has a 52-week low of $4.58 and a 52-week high of $23.61. The company's 50 day simple moving average is $15.96 and its 200-day simple moving average is $10.68. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The firm has a market capitalization of $13.52 billion, a P/E ratio of 56.87 and a beta of 1.23.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. Coeur Mining had a net margin of 13.06% and a return on equity of 14.38%. The business had revenue of $480.65 million for the quarter, compared to analyst estimates of $438.40 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm's revenue was up 116.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Coeur Mining, Inc. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CDE shares. Roth Capital set a $20.00 price target on shares of Coeur Mining and gave the stock a "buy" rating in a research note on Friday, October 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Coeur Mining in a research note on Wednesday, October 8th. BMO Capital Markets increased their target price on shares of Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Raymond James Financial set a $22.00 target price on shares of Coeur Mining and gave the company an "outperform" rating in a research note on Friday, October 10th. Finally, Zacks Research raised shares of Coeur Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $13.54.

Insider Transactions at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 8,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.62, for a total value of $92,960.00. Following the transaction, the chief accounting officer owned 143,007 shares in the company, valued at approximately $1,661,741.34. This represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Aoife Mcgrath sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $11.69, for a total transaction of $93,520.00. Following the completion of the transaction, the senior vice president owned 203,318 shares in the company, valued at approximately $2,376,787.42. This represents a 3.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 516,619 shares of company stock worth $6,626,362. 1.50% of the stock is owned by company insiders.

About Coeur Mining

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.

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