NewGen Asset Management Ltd Makes New Investment in Coeur Mining, Inc. $CDE

Key Points

• NewGen Asset Management opened a new position in Coeur Mining, buying 717,800 shares valued at about $12.8 million. The stake makes CDE its third-largest holding and about 7.9% of its portfolio.
• Wall Street sentiment is generally positive on the stock, with analysts assigning a Moderate Buy consensus and an average price target of $26.28. Recent ratings were mixed, including both upgrades and downgrades.
• Coeur Mining reported strong year-over-year revenue growth in its latest quarter, with sales up 137.8% to $856.19 million, though EPS slightly missed estimates. The company also paid a small dividend and saw an insider sale by its CAO.

NewGen Asset Management Ltd acquired a new stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 717,800 shares of the basic materials company's stock, valued at approximately $12,798,000. Coeur Mining accounts for about 7.9% of NewGen Asset Management Ltd's investment portfolio, making the stock its 3rd largest holding. NewGen Asset Management Ltd owned approximately 0.11% of Coeur Mining at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Triumph Capital Management raised its position in shares of Coeur Mining by 300.0% in the fourth quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company's stock valued at $29,000 after buying an additional 1,200 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Coeur Mining by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company's stock worth $30,000 after buying an additional 1,435 shares in the last quarter. Kingdom Financial Group LLC. bought a new position in Coeur Mining during the 4th quarter worth $32,000. Transamerica Financial Advisors LLC bought a new position in Coeur Mining during the 4th quarter worth $34,000. Finally, JPL Wealth Management LLC acquired a new position in Coeur Mining in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. ATB Cormark Capital Markets upgraded Coeur Mining from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, March 24th. Cantor Fitzgerald cut Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price target on the stock. in a research report on Thursday, May 7th. Roth Mkm reaffirmed a "buy" rating and issued a $25.00 price target on shares of Coeur Mining in a research note on Friday, May 8th. Zacks Research raised shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.28.

Coeur Mining Stock Up 8.4%

Shares of CDE opened at $18.64 on Tuesday. Coeur Mining, Inc. has a one year low of $8.46 and a one year high of $27.77. The company has a market cap of $19.28 billion, a P/E ratio of 16.07 and a beta of 1.25. 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 firm has a 50 day simple moving average of $18.51 and a two-hundred day simple moving average of $19.74.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share 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 business had revenue of $856.19 million during the quarter, compared to analyst estimates of $815.59 million. During the same period in the prior year, the business posted $0.11 EPS. The company's revenue for the quarter was up 137.8% compared to the same quarter last year. Research analysts forecast that Coeur Mining, Inc. will post 1.46 EPS for the current fiscal year.

Coeur Mining Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, June 10th. Investors 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%.

Insiders Place Their Bets

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.60, for a total value of $725,400.00. Following the sale, the chief accounting officer directly owned 77,204 shares of the company's stock, valued at $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 SEC, which is available through this link. 0.90% of the stock is owned by company insiders.

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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