Oppenheimer & Close LLC Trims Stock Position in Coeur Mining, Inc. $CDE

Key Points

• Oppenheimer & Close LLC sharply reduced its Coeur Mining stake in the fourth quarter, selling 164,184 shares and cutting its position by 69.5% to 71,986 shares worth about $1.28 million.
• Other institutional investors have been increasing exposure to Coeur Mining, and 63.01% of the stock is owned by hedge funds and other institutions.
• Analysts are generally constructive on the stock: Coeur Mining has a Moderate Buy consensus rating with an average target price of $24.56, while the shares recently traded at $19.30.

Oppenheimer & Close LLC cut its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 69.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,986 shares of the basic materials company's stock after selling 164,184 shares during the period. Coeur Mining makes up 0.9% of Oppenheimer & Close LLC's investment portfolio, making the stock its 29th biggest holding. Oppenheimer & Close LLC's holdings in Coeur Mining were worth $1,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDE. Van ECK Associates Corp raised 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 worth $1,238,201,000 after buying an additional 23,646,265 shares in the last quarter. Tidal Investments LLC raised 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 worth $183,709,000 after buying an additional 7,382,955 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 worth $447,567,000 after buying an additional 6,352,828 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Coeur Mining by 38.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,303,254 shares of the basic materials company's stock worth $268,329,000 after buying an additional 3,982,085 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Coeur Mining by 38.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 8,537,254 shares of the basic materials company's stock worth $152,219,000 after buying an additional 2,366,413 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Coeur Mining from $22.00 to $26.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. Canaccord Genuity Group raised Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 target price for the company in a research note on Wednesday, April 29th. Weiss Ratings downgraded Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 27th. Cantor Fitzgerald downgraded Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 target price for the company. in a research note on Thursday, May 7th. Finally, ATB Cormark Capital Markets raised Coeur Mining from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.56.

Coeur Mining Stock Performance

NYSE CDE opened at $19.30 on Friday. Coeur Mining, Inc. has a 1-year low of $7.87 and a 1-year high of $27.77. The company has a market capitalization of $19.96 billion, a P/E ratio of 16.63 and a beta of 1.24. The business has a 50 day moving average price of $18.60 and a 200 day moving average price of $19.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.73 and a quick ratio of 2.14.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings data 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 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 analysts' expectations of $815.59 million. During the same period in the previous year, the business earned $0.11 earnings per share. The business's revenue for the quarter was up 137.8% on a year-over-year basis. Sell-side analysts expect that Coeur Mining, Inc. will post 1.46 EPS for the current fiscal year.

Coeur Mining Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be paid a $0.02 dividend. This represents a yield of 23.0%. The ex-dividend date of this dividend is Friday, May 22nd. Coeur Mining's dividend payout ratio (DPR) is presently 3.45%.

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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