Public Employees Retirement System of Ohio Invests $4.83 Million in Coeur Mining, Inc. $CDE

Key Points

• Public Employees Retirement System of Ohio acquired 296,183 Coeur Mining shares worth approximately $4.83 million in the second quarter. Institutional investors collectively own 63.01% of the company.
• Coeur Mining reported quarterly revenue of $1.09 billion, up 125.8% year over year, but missed analyst expectations on both revenue and earnings, posting $0.12 EPS versus a $0.26 consensus.
• Analysts maintain a “Moderate Buy” consensus rating with a $25.50 target price, while insiders sold 41,000 shares worth $844,470 over the past three months.

Public Employees Retirement System of Ohio acquired a new stake in Coeur Mining, Inc. (NYSE:CDE - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 296,183 shares of the basic materials company's stock, valued at approximately $4,834,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of Coeur Mining by 83.2% in the first quarter. Bank of America Corp DE now owns 5,429,896 shares of the basic materials company's stock worth $101,919,000 after buying an additional 2,466,122 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Coeur Mining by 92.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company's stock valued at $222,922,000 after acquiring an additional 6,012,718 shares during the period. Norges Bank bought a new position in Coeur Mining during the 4th quarter worth approximately $128,389,000. Quantinno Capital Management LP grew its position in Coeur Mining by 529.7% during the 1st quarter. Quantinno Capital Management LP now owns 224,300 shares of the basic materials company's stock worth $4,210,000 after acquiring an additional 188,682 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Coeur Mining by 81.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,681,172 shares of the basic materials company's stock worth $69,896,000 after purchasing an additional 1,653,323 shares during the period. Institutional investors own 63.01% of the company's stock.

Coeur Mining Stock Performance

Shares of CDE stock opened at $21.42 on Thursday. The stock has a fifty day moving average of $17.39 and a 200 day moving average of $18.80. Coeur Mining, Inc. has a 52 week low of $13.55 and a 52 week high of $27.77. The firm has a market capitalization of $22.02 billion, a price-to-earnings ratio of 18.31 and a beta of 1.39. The company has a quick ratio of 2.44, a current ratio of 3.65 and a debt-to-equity ratio of 0.07.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.14). The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.24 billion. Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.The firm's revenue for the quarter was up 125.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. As a group, research analysts expect that Coeur Mining, Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CDE. Wall Street Zen downgraded Coeur Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Zacks Research upgraded shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Roth Capital set a $19.00 target price on shares of Coeur Mining in a research note on Friday, August 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Coeur Mining in a report on Wednesday, June 24th. Finally, Cantor Fitzgerald lowered shares of Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price target for the company. in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Coeur Mining presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.50.

Insiders Place Their Bets

In other news, CFO Thomas S. Whelan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.87, for a total value of $125,220.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Casey M. Nault sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the executive vice president directly owned 540,086 shares of the company's stock, valued at $10,801,720. This represents a 1.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,000 shares of company stock worth $844,470 over the last three months. Company insiders own 0.90% of the company's stock.

About Coeur Mining

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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