Coeur Mining, Inc. $CDE Shares Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its stake in Coeur Mining by 1.8% in the fourth quarter, ending with 14.56 million shares valued at about $259.7 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 63.01% of the company; several large funds, including Van ECK, Tidal Investments, Norges Bank, and Goldman Sachs, also boosted their positions.
• Insider activity was mixed: CAO Kenneth J. Watkinson sold 39,000 shares, while analysts currently rate the stock a Moderate Buy with a consensus price target of $26.28.

Arrowstreet Capital Limited Partnership increased its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,563,232 shares of the basic materials company's stock after purchasing an additional 259,978 shares during the period. Arrowstreet Capital Limited Partnership owned 2.27% of Coeur Mining worth $259,662,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CDE. Van ECK Associates Corp boosted its stake in Coeur Mining by 55.8% during the third quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company's stock worth $1,238,201,000 after buying an additional 23,646,265 shares during the period. Tidal Investments LLC boosted its stake in Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company's stock worth $183,709,000 after buying an additional 7,382,955 shares during the period. Norges Bank purchased a new position in Coeur Mining during the fourth quarter worth about $128,389,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Coeur Mining by 36.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company's stock worth $447,567,000 after buying an additional 6,352,828 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Coeur Mining by 92.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company's stock valued at $222,922,000 after purchasing an additional 6,012,718 shares during the period. Hedge funds and other institutional investors own 63.01% of the company's stock.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining stock in a transaction on Monday, June 1st. The shares were sold at an average price of $18.60, for a total value of $725,400.00. Following the transaction, the chief accounting officer directly owned 77,204 shares of the company's stock, valued at $1,435,994.40. The trade was a 33.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

Coeur Mining Stock Up 0.0%

CDE stock opened at $17.20 on Monday. The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07. Coeur Mining, Inc. has a twelve month low of $8.46 and a twelve month high of $27.77. The company's 50 day moving average is $18.52 and its two-hundred day moving average is $19.71. The stock has a market cap of $17.80 billion, a P/E ratio of 14.83 and a beta of 1.25.

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

Coeur Mining Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. ATB Cormark Capital Markets raised shares of Coeur Mining from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, March 24th. Zacks Research raised shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 30th. Scotiabank assumed coverage on shares of Coeur Mining in a research note on Friday. They issued a "sector outperform" rating and a $27.50 price objective for the company. Weiss Ratings lowered shares of Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 27th. Finally, BMO Capital Markets assumed coverage on shares of Coeur Mining in a research note on Wednesday, March 25th. They issued an "outperform" rating and a $27.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.28.

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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