First Trust Advisors LP Buys 444,045 Shares of Coeur Mining, Inc. $CDE

Key Points

• First Trust Advisors nearly doubled its Coeur Mining stake, buying 444,045 additional shares in the first quarter to own 892,766 shares valued at approximately $16.7 million. Institutional investors collectively hold 63.01% of the company.
• Analyst sentiment remains broadly positive but mixed: Coeur Mining has an average “Moderate Buy” rating and a consensus price target of $26.39, despite recent downgrades from several firms.
• Coeur Mining reported quarterly revenue of $856.19 million, up 137.8% year over year, though earnings of $0.36 per share narrowly missed estimates. The stock opened at $14.59, well below its 52-week high of $27.77.

First Trust Advisors LP increased its stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 99.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 892,766 shares of the basic materials company's stock after acquiring an additional 444,045 shares during the period. First Trust Advisors LP owned about 0.14% of Coeur Mining worth $16,737,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Chase Investment Counsel Corp bought a new stake in Coeur Mining during the first quarter worth about $783,000. ABN Amro Investment Solutions bought a new position in shares of Coeur Mining during the 1st quarter valued at about $779,000. PNC Financial Services Group Inc. increased its position in shares of Coeur Mining by 146.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 26,205 shares of the basic materials company's stock valued at $492,000 after purchasing an additional 15,555 shares during the last quarter. Convergence Investment Partners LLC increased its position in shares of Coeur Mining by 13.3% during the 1st quarter. Convergence Investment Partners LLC now owns 77,170 shares of the basic materials company's stock valued at $1,448,000 after purchasing an additional 9,070 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Coeur Mining by 2,741.7% during the 1st quarter. Meeder Asset Management Inc. now owns 69,253 shares of the basic materials company's stock valued at $1,300,000 after buying an additional 66,816 shares in the last quarter. Institutional investors own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

CDE has been the subject of a number of recent research reports. Wall Street Zen downgraded Coeur Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Zacks Research cut shares of Coeur Mining from a "hold" rating to a "strong sell" rating in a research report on Friday, July 10th. Cantor Fitzgerald downgraded shares of Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price target on the stock. in a research note on Thursday, May 7th. Scotiabank restated an "outperform" rating and issued a $28.50 price objective on shares of Coeur Mining in a report on Tuesday, July 14th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Coeur Mining in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $26.39.

Coeur Mining Trading Down 2.2%

NYSE CDE opened at $14.59 on Thursday. The firm has a market cap of $15.09 billion, a PE ratio of 12.58 and a beta of 1.29. Coeur Mining, Inc. has a 1-year low of $8.56 and a 1-year high of $27.77. The stock has a 50-day moving average of $16.66 and a 200-day moving average of $19.40. 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 posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share (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 the consensus estimate of $815.59 million. Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.Coeur Mining's revenue was up 137.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. As a group, sell-side analysts forecast that Coeur Mining, Inc. will post 1.25 EPS for the current year.

Coeur Mining Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.02 per share. 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 is 3.45%.

Insider Buying and Selling at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm's stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.