PKO Investment Management Joint Stock Co Boosts Stock Position in Coeur Mining, Inc. $CDE

Key Points

• PKO Investment Management increased its Coeur Mining stake by 73.3% in the first quarter, buying 166,773 additional shares to bring its total to 394,192 shares worth about $7.4 million.
• Other institutional investors were also active in the stock, and hedge funds and other institutions now own 63.01% of Coeur Mining, while corporate insiders hold just 0.90%.
• Coeur Mining recently reported quarterly EPS of $0.36, slightly below estimates, but revenue topped expectations at $856.19 million and jumped 137.8% year over year; analysts currently rate the stock a Moderate Buy with a $26.28 target price.

PKO Investment Management Joint Stock Co boosted its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 73.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 394,192 shares of the basic materials company's stock after buying an additional 166,773 shares during the period. PKO Investment Management Joint Stock Co owned approximately 0.06% of Coeur Mining worth $7,399,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in shares of Coeur Mining by 64.0% during the first quarter. SG Americas Securities LLC now owns 306,141 shares of the basic materials company's stock valued at $5,746,000 after acquiring an additional 119,477 shares in the last quarter. Sheets Smith Wealth Management bought a new position in Coeur Mining in the 1st quarter worth about $1,497,000. Polianta Ltd bought a new position in Coeur Mining in the 1st quarter worth about $1,642,000. E. Ohman J or Asset Management AB purchased a new stake in Coeur Mining during the 1st quarter valued at about $601,000. Finally, Diversified Trust Co grew its position in Coeur Mining by 30.0% during the 1st quarter. Diversified Trust Co now owns 125,692 shares of the basic materials company's stock valued at $2,359,000 after purchasing an additional 29,028 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Insider Buying and Selling

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.60, for a total transaction 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. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company's stock.

Coeur Mining Stock Performance

Shares of CDE opened at $17.45 on Tuesday. The firm has a market capitalization of $18.05 billion, a P/E ratio of 15.04 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. Coeur Mining, Inc. has a one year low of $8.46 and a one year high of $27.77. The business has a fifty day moving average of $18.37 and a 200 day moving average of $19.78.

Coeur Mining (NYSE:CDE - Get Free Report) last posted 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 firm had revenue of $856.19 million during the quarter, compared to the consensus estimate of $815.59 million. During the same period in the prior year, the company posted $0.11 EPS. The firm's revenue was up 137.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coeur Mining, Inc. will post 1.46 EPS for the current year.

Coeur Mining Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. ATB Cormark Capital Markets raised shares of Coeur Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, March 24th. Zacks Research upgraded shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce began coverage on shares of Coeur Mining in a research report on Tuesday, March 10th. They set an "outperform" rating and a $40.00 price target for the company. Wall Street Zen lowered shares of Coeur Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Canaccord Genuity Group raised Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price objective on the stock in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Coeur Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.28.

Coeur Mining 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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