Parvin Asset Management LLC Boosts Stake in Coeur Mining, Inc. $CDE

Key Points

• Parvin Asset Management increased its Coeur Mining stake by 89% in the first quarter, bringing its holdings to 205,252 shares valued at $3.85 million. Institutional investors collectively own 63.01% of the company.
• Coeur Mining reported quarterly revenue of $856.19 million, up 137.8% year over year and above expectations, though earnings per share of $0.36 narrowly missed consensus by $0.01.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $26.39, compared with shares opening at $14.90; recommendations range from Strong Buy to Sell.

Parvin Asset Management LLC boosted its position in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 89.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,252 shares of the basic materials company's stock after purchasing an additional 96,646 shares during the quarter. Coeur Mining comprises 2.8% of Parvin Asset Management LLC's investment portfolio, making the stock its 4th biggest position. Parvin Asset Management LLC's holdings in Coeur Mining were worth $3,853,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Coeur Mining by 92.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company's stock worth $524,669,000 after purchasing an additional 13,418,041 shares during the period. Tidal Investments LLC boosted its stake in Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company's stock valued at $183,709,000 after buying an additional 7,382,955 shares during the period. Norges Bank bought a new stake in Coeur Mining during the fourth quarter valued at $128,389,000. Renaissance Technologies LLC grew its position in Coeur Mining by 889.6% during the first quarter. Renaissance Technologies LLC now owns 6,870,813 shares of the basic materials company's stock worth $128,965,000 after buying an additional 6,176,524 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Coeur Mining by 92.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company's stock worth $222,922,000 after buying an additional 6,012,718 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Coeur Mining Price Performance

Shares of Coeur Mining stock opened at $14.90 on Wednesday. Coeur Mining, Inc. has a 52-week low of $8.56 and a 52-week high of $27.77. The stock has a market capitalization of $15.42 billion, a price-to-earnings ratio of 12.85 and a beta of 1.29. The company has a fifty day moving average of $16.72 and a 200-day moving average of $19.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73.

Coeur Mining (NYSE:CDE - Get Free Report) last issued 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 business had revenue of $856.19 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. Equities research analysts expect that Coeur Mining, Inc. will post 1.25 EPS for the current year.

Coeur Mining Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.02 per share. This represents a dividend yield of 23.0%. The ex-dividend date of this dividend was Friday, May 22nd. Coeur Mining's dividend payout ratio (DPR) is 3.45%.

Insider Activity

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining 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 transaction, the chief accounting officer owned 77,204 shares in the company, valued at approximately $1,435,994.40. The trade was a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Scotiabank reaffirmed an "outperform" rating and issued a $28.50 price target on shares of Coeur Mining in a report on Tuesday, July 14th. Canaccord Genuity Group raised Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price objective for the company in a report on Wednesday, April 29th. Roth Capital restated a "buy" rating and issued a $25.00 price objective on shares of Coeur Mining in a research report on Friday, May 8th. Cantor Fitzgerald downgraded shares of 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, Zacks Research downgraded shares of Coeur Mining from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Coeur Mining presently has a consensus rating of "Moderate Buy" and an average target price of $26.39.

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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