Lombard Odier Asset Management USA Corp Acquires New Position in Coeur Mining, Inc. $CDE

Key Points

• Lombard Odier Asset Management USA Corp opened a new position in Coeur Mining during the fourth quarter, buying 60,355 shares worth about $1.08 million.
• Coeur Mining reported quarterly EPS of $0.36, slightly below estimates, but revenue of $856.19 million topped expectations and jumped 137.8% year over year.
• Analysts currently view the stock as a Moderate Buy overall, with a consensus price target of $26.28; meanwhile, insider selling included CAO Kenneth J. Watkinson selling 39,000 shares in June.

Lombard Odier Asset Management USA Corp acquired a new stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 60,355 shares of the basic materials company's stock, valued at approximately $1,076,000.

A number of other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp grew its stake in shares of Coeur Mining by 55.8% during the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company's stock valued at $1,238,201,000 after acquiring an additional 23,646,265 shares during the period. State Street Corp grew its stake in shares of Coeur Mining by 6.7% during the 4th quarter. State Street Corp now owns 24,250,702 shares of the basic materials company's stock valued at $432,390,000 after acquiring an additional 1,529,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Coeur Mining by 36.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company's stock valued at $447,567,000 after acquiring an additional 6,352,828 shares during the period. Tidal Investments LLC grew its stake in shares of Coeur Mining by 55.3% during the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company's stock valued at $183,709,000 after acquiring an additional 7,382,955 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Coeur Mining by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company's stock valued at $277,953,000 after acquiring an additional 524,646 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Coeur Mining Trading Up 0.8%

CDE stock opened at $18.81 on Wednesday. Coeur Mining, Inc. has a 1-year low of $8.46 and a 1-year high of $27.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.73 and a quick ratio of 2.14. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 16.22 and a beta of 1.25. The business has a 50 day simple moving average of $18.51 and a two-hundred day simple moving average of $19.75.

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

Coeur Mining Dividend Announcement

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

Analyst Upgrades and Downgrades

CDE has been the subject of several recent analyst reports. Wall Street Zen downgraded Coeur Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Roth Mkm restated a "buy" rating and issued a $25.00 price target on shares of Coeur Mining in a research note on Friday, May 8th. ATB Cormark Capital Markets upgraded Coeur Mining from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, March 24th. Cantor Fitzgerald downgraded Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price target for the company. in a research note on Thursday, May 7th. Finally, BMO Capital Markets initiated coverage on Coeur Mining in a research note on Wednesday, March 25th. They issued an "outperform" rating and a $27.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Coeur Mining currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.28.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $18.60, for a total transaction of $725,400.00. Following the completion of the transaction, the chief accounting officer directly owned 77,204 shares in the company, valued at approximately $1,435,994.40. This represents a 33.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.

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