Polianta Ltd Makes New $1.64 Million Investment in Coeur Mining, Inc. $CDE

Key Points

• Polianta Ltd opened a new position in Coeur Mining during the first quarter, buying 87,500 shares valued at about $1.64 million. The stake represents 0.2% of Polianta’s portfolio and is its 23rd-largest holding.
• Wall Street sentiment on Coeur Mining is mostly positive, with multiple brokerages issuing or maintaining buy/outperform ratings and a consensus Moderate Buy rating. The average price target stands at $26.28.
• Despite recent revenue growth, Coeur Mining’s latest earnings slightly missed EPS expectations at $0.36 versus $0.37 expected. The company also announced a $0.02 per-share dividend, and an insider sale by CAO Kenneth J. Watkinson reduced his holdings by 33.56%.

Polianta Ltd acquired a new stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 87,500 shares of the basic materials company's stock, valued at approximately $1,642,000. Coeur Mining makes up 0.2% of Polianta Ltd's investment portfolio, making the stock its 23rd biggest position.

Several other large investors also recently modified their holdings of CDE. Sprott Inc. grew its position in Coeur Mining by 2.0% in the third quarter. Sprott Inc. now owns 9,208,046 shares of the basic materials company's stock valued at $172,743,000 after acquiring an additional 176,388 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Coeur Mining by 55.8% during the third 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 acquiring an additional 23,646,265 shares during the period. Algert Global LLC boosted its stake in shares of Coeur Mining by 65.1% in the 3rd 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Coeur Mining by 36.3% in the 3rd 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 purchasing an additional 6,352,828 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Coeur Mining by 498.8% in the 3rd quarter. Victory Capital Management Inc. now owns 664,840 shares of the basic materials company's stock worth $12,472,000 after purchasing an additional 553,814 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDE. ATB Cormark Capital Markets upgraded shares of Coeur Mining from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, March 24th. BMO Capital Markets initiated coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They issued an "outperform" rating and a $27.00 price target on the stock. Scotiabank assumed 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 on the stock. Roth Mkm reaffirmed a "buy" rating and set a $25.00 price objective on shares of Coeur Mining in a report on Friday, May 8th. Finally, Weiss Ratings cut shares of Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.28.

Insiders Place Their Bets

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the 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 transaction, the chief accounting officer directly owned 77,204 shares in the company, valued at $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 SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company's stock.

Coeur Mining Stock Up 0.1%

Shares of CDE opened at $17.53 on Friday. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 15.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73. The business's fifty day moving average price is $18.41 and its two-hundred day moving average price is $19.75. Coeur Mining, Inc. has a 52 week low of $8.46 and a 52 week high of $27.77.

Coeur Mining (NYSE:CDE - Get Free Report) last released 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 return on equity of 15.38% and a net margin of 31.15%.The firm had revenue of $856.19 million for the quarter, compared to the consensus estimate of $815.59 million. During the same quarter in the previous year, the firm earned $0.11 EPS. The company's revenue was up 137.8% compared to the same quarter last year. On average, analysts predict that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Dividend Announcement

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