Goldman Sachs Group Inc. Raises Stake in Coeur Mining, Inc. $CDE

Key Points

• Goldman Sachs sharply increased its Coeur Mining stake by 92.6% in the fourth quarter, ending with 12.5 million shares valued at about $222.9 million.
• Several other institutional investors also added to or initiated positions, and 63.01% of Coeur Mining is now owned by hedge funds and other institutions.
• Coeur Mining reported quarterly EPS of $0.36, missing estimates by a penny, while revenue of $856.19 million beat expectations and rose 137.8% year over year; the company also declared a $0.02 dividend payable June 10.

Goldman Sachs Group Inc. increased its stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 92.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,502,645 shares of the basic materials company's stock after buying an additional 6,012,718 shares during the quarter. Goldman Sachs Group Inc. owned 1.95% of Coeur Mining worth $222,922,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kingdom Financial Group LLC. purchased a new position in shares of Coeur Mining in the 4th quarter worth about $32,000. JPL Wealth Management LLC purchased a new position in shares of Coeur Mining in the 3rd quarter worth about $35,000. Lodestone Wealth Management LLC purchased a new position in shares of Coeur Mining in the 4th quarter worth about $36,000. Sound Income Strategies LLC boosted its holdings in shares of Coeur Mining by 99.2% in the 4th quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company's stock worth $36,000 after buying an additional 996 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of Coeur Mining by 121.6% in the 4th quarter. Comerica Bank now owns 2,473 shares of the basic materials company's stock worth $44,000 after buying an additional 1,357 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coeur Mining

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

Wall Street Analyst Weigh In

CDE has been the topic of a number of research analyst reports. Wall Street Zen downgraded 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 on the stock in a report on Wednesday, April 29th. Roth Mkm reissued a "buy" rating and issued a $25.00 price target on shares of Coeur Mining in a report on Friday, May 8th. Canadian Imperial Bank of Commerce started coverage on shares of Coeur Mining in a report on Tuesday, March 10th. They issued an "outperform" rating and a $40.00 price target on the stock. Finally, BMO Capital Markets started coverage on Coeur Mining in a research note on Wednesday, March 25th. They issued an "outperform" rating and a $27.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Coeur Mining presently has a consensus rating of "Moderate Buy" and an average price target of $24.56.

Coeur Mining Trading Down 12.0%

Shares of Coeur Mining stock opened at $16.27 on Friday. Coeur Mining, Inc. has a 52-week low of $8.46 and a 52-week high of $27.77. The stock's 50-day simple moving average is $18.63 and its 200 day simple moving average is $19.60. The stock has a market capitalization of $16.83 billion, a P/E ratio of 14.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73.

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

Coeur Mining Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.02 per share. The ex-dividend date is Friday, May 22nd. This represents a dividend yield of 23.0%. Coeur Mining's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding CDE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coeur Mining, Inc. (NYSE:CDE - Free Report).

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.