Empowered Funds LLC Has $19.91 Million Position in Coeur Mining, Inc. $CDE

Key Points

• Empowered Funds LLC increased its Coeur Mining stake by 686.5% in the first quarter, purchasing 926,013 additional shares to hold 1.06 million shares worth approximately $19.91 million.
• Other institutional investors also expanded their positions, and hedge funds and institutions now own 63.01% of Coeur Mining.
• Coeur Mining shares opened at $14.90, down 3.0%, while the company reported quarterly revenue of $856.19 million—up 137.8% year over year—but narrowly missed earnings expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $26.39.

Empowered Funds LLC boosted its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 686.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,060,907 shares of the basic materials company's stock after purchasing an additional 926,013 shares during the quarter. Empowered Funds LLC owned about 0.10% of Coeur Mining worth $19,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of Coeur Mining by 60.2% in the first quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company's stock worth $4,434,000 after buying an additional 281,489 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Coeur Mining by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company's stock valued at $49,449,000 after buying an additional 1,278,110 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Coeur Mining by 122.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company's stock valued at $14,393,000 after buying an additional 1,339,138 shares during the last quarter. Focus Partners Wealth bought a new position in Coeur Mining in the 1st quarter worth $60,000. Finally, Intech Investment Management LLC raised its holdings in Coeur Mining by 58.4% in the 1st quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company's stock worth $1,594,000 after acquiring an additional 99,256 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Coeur Mining Trading Down 3.0%

Shares of CDE stock opened at $14.90 on Wednesday. Coeur Mining, Inc. has a 1 year low of $8.56 and a 1 year high of $27.77. The firm's fifty day simple moving average is $16.72 and its 200 day simple moving average is $19.44. The firm has a market capitalization of $15.42 billion, a P/E ratio of 12.85 and a beta of 1.29. 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 (NYSE:CDE - Get Free Report) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $856.19 million for the quarter, compared to analyst estimates of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. Coeur Mining's revenue for the quarter was up 137.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 earnings per share. As a group, sell-side analysts predict that Coeur Mining, Inc. will post 1.25 EPS for the current year.

Coeur Mining Dividend Announcement

The business also recently disclosed 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 is currently 3.45%.

Insider Buying and Selling at Coeur Mining

In related 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 value of $725,400.00. Following the completion of the sale, the chief accounting officer owned 77,204 shares in the company, valued at approximately $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CDE shares. Canaccord Genuity Group raised shares of Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 target price for the company in a research report on Wednesday, April 29th. Wall Street Zen downgraded Coeur Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Roth Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of Coeur Mining in a research note on Friday, May 8th. Cantor Fitzgerald cut 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. Finally, Scotiabank restated an "outperform" rating and set a $28.50 target price on shares of Coeur Mining in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $26.39.

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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