Coeur Mining, Inc. $CDE Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers’ Retirement System nearly doubled its Coeur Mining stake in the first quarter, purchasing 590,001 additional shares to own 1.20 million shares valued at approximately $22.5 million. Institutional investors and hedge funds collectively own 63.01% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $26.39, despite some downgrades, including Zacks Research’s “Strong Sell” rating.
• Coeur Mining reported quarterly revenue of $856.19 million, up 137.8% year over year and above estimates, though earnings per share of $0.36 narrowly missed expectations. Shares opened at $14.91, well below their 52-week high of $27.77.

California State Teachers Retirement System increased its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 96.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,199,329 shares of the basic materials company's stock after purchasing an additional 590,001 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Coeur Mining worth $22,511,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Coeur Mining by 92.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company's stock valued at $524,669,000 after buying an additional 13,418,041 shares in the last quarter. State Street Corp increased its stake in Coeur Mining by 6.7% during the fourth quarter. State Street Corp now owns 24,250,702 shares of the basic materials company's stock worth $432,390,000 after purchasing an additional 1,529,394 shares during the period. Tidal Investments LLC increased 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 purchasing an additional 7,382,955 shares during the period. Geode Capital Management LLC lifted its position in shares of Coeur Mining by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company's stock worth $277,953,000 after purchasing an additional 524,646 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Coeur Mining by 34.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company's stock worth $241,484,000 after purchasing an additional 3,291,431 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CDE. Scotiabank reissued an "outperform" rating and issued a $28.50 price objective on shares of Coeur Mining in a research note on Tuesday, July 14th. Roth Capital reaffirmed a "buy" rating and set a $25.00 target price on shares of Coeur Mining in a research note on Friday, May 8th. Wall Street Zen lowered shares of Coeur Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Canaccord Genuity Group raised shares of Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price target for the company in a research report on Wednesday, April 29th. Finally, Zacks Research downgraded shares of Coeur Mining from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.39.

Insider Activity at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the 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. This trade represents a 33.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by company insiders.

Coeur Mining Price Performance

CDE stock opened at $14.91 on Friday. The business has a 50 day moving average price of $16.55 and a 200 day moving average price of $19.34. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 12.86 and a beta of 1.29. Coeur Mining, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $27.77. 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 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. Equities research analysts anticipate that Coeur Mining, Inc. will post 1.25 earnings per share for the current fiscal year.

Coeur Mining Dividend Announcement

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