Oxbow Advisors LLC Acquires New Position in Coeur Mining, Inc. $CDE

Key Points

• Oxbow Advisors LLC opened a new stake in Coeur Mining during the first quarter, buying 141,497 shares worth about $2.66 million.
• Institutional interest in Coeur Mining remains strong, with 63.01% of the stock owned by institutions and hedge funds, and several firms recently increasing their positions.
• Analysts are broadly positive on CDE, with a consensus rating of “Moderate Buy” and an average price target of $26.28, while the stock recently traded around $17.28.

Oxbow Advisors LLC acquired a new position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 141,497 shares of the basic materials company's stock, valued at approximately $2,656,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in Coeur Mining by 55.8% in 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 purchasing an additional 23,646,265 shares in the last quarter. Algert Global LLC grew its holdings in Coeur Mining by 65.1% in the third quarter. Algert Global LLC now owns 526,860 shares of the basic materials company's stock valued at $9,884,000 after purchasing an additional 207,670 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Coeur Mining by 36.3% in the third 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 buying an additional 6,352,828 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Coeur Mining by 498.8% during the 3rd quarter. Victory Capital Management Inc. now owns 664,840 shares of the basic materials company's stock worth $12,472,000 after buying an additional 553,814 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Coeur Mining by 145.6% in the 4th quarter. SG Americas Securities LLC now owns 186,664 shares of the basic materials company's stock worth $3,328,000 after buying an additional 110,660 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CDE. ATB Cormark Capital Markets upgraded shares of Coeur Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, March 24th. Scotiabank initiated coverage on shares of Coeur Mining in a research note on Friday, June 12th. They set a "sector outperform" rating and a $27.50 price objective for the company. Weiss Ratings restated a "hold (c+)" rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Cantor Fitzgerald lowered Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 target price on the stock. in a research note on Thursday, May 7th. Finally, BMO Capital Markets assumed coverage on Coeur Mining in a research note on Wednesday, March 25th. They issued an "outperform" rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Coeur Mining presently has a consensus rating of "Moderate Buy" and an average target price of $26.28.

Coeur Mining Trading Down 0.1%

Shares of CDE stock opened at $17.28 on Friday. 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 has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $17.74 and a 200 day moving average price of $19.76. Coeur Mining, Inc. has a twelve month low of $8.56 and a twelve month high of $27.77.

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

Coeur Mining Announces Dividend

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

Insider Buying and Selling

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.60, for a total value of $725,400.00. Following the completion of the sale, the chief accounting officer directly owned 77,204 shares of the company's stock, valued at approximately $1,435,994.40. The trade was a 33.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

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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