IFM Investors Pty Ltd Purchases New Holdings in Coeur Mining, Inc. $CDE

Key Points

• IFM Investors Pty Ltd opened a new position in Coeur Mining during the first quarter, buying 214,129 shares worth about $4.0 million.
• Coeur Mining reported mixed quarterly results: $0.36 EPS missed estimates by one cent, but revenue of $856.2 million beat expectations and jumped 137.8% year over year.
• Analysts remain broadly positive on the stock, with an average rating of “Moderate Buy” and an average price target of $26.28, while the shares recently traded around $17.28.

IFM Investors Pty Ltd purchased a new position in Coeur Mining, Inc. (NYSE:CDE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 214,129 shares of the basic materials company's stock, valued at approximately $4,019,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Harbor Investment Advisory LLC purchased a new position in Coeur Mining during the 1st quarter valued at $103,000. SMART Wealth LLC boosted its stake in shares of Coeur Mining by 49.6% during the first quarter. SMART Wealth LLC now owns 20,455 shares of the basic materials company's stock valued at $384,000 after purchasing an additional 6,786 shares during the period. Grand Central Investment Group grew its stake in Coeur Mining by 1.5% in the 1st quarter. Grand Central Investment Group now owns 40,514 shares of the basic materials company's stock worth $760,000 after acquiring an additional 612 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Coeur Mining by 119.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 94,875 shares of the basic materials company's stock worth $1,781,000 after acquiring an additional 51,714 shares in the last quarter. Finally, Louisbourg Investments Inc. purchased a new position in shares of Coeur Mining during the first quarter worth approximately $5,490,000. 63.01% of the stock is owned by institutional investors.

Insider Transactions 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 stock was 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 in the company, valued at approximately $1,435,994.40. This trade represents a 33.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.90% of the company's stock.

Coeur Mining Trading Down 0.1%

NYSE CDE opened at $17.28 on Friday. Coeur Mining, Inc. has a one year low of $8.56 and a one year high of $27.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 14.89 and a beta of 1.29. The company's 50-day simple moving average is $17.74 and its two-hundred day simple moving average is $19.76.

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

Coeur Mining Announces Dividend

The business also recently announced 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 was Friday, May 22nd. This represents a yield of 23.0%. Coeur Mining's dividend payout ratio is currently 3.45%.

Analyst Ratings Changes

Several research firms have recently weighed in on CDE. 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. Scotiabank started coverage on Coeur Mining in a research note on Friday, June 12th. They issued a "sector outperform" rating and a $27.50 price objective on the stock. Canadian Imperial Bank of Commerce initiated coverage on Coeur Mining in a report on Tuesday, March 10th. They set an "outperform" rating and a $40.00 price objective on the stock. Roth Mkm reaffirmed a "buy" rating and set a $25.00 target price on shares of Coeur Mining in a research report on Friday, May 8th. Finally, BMO Capital Markets assumed coverage on Coeur Mining in a report on Wednesday, March 25th. They issued an "outperform" rating and a $27.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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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