Rathbones Group PLC Reduces Stock Holdings in Coeur Mining, Inc. $CDE

Key Points

• Rathbones Group cut its Coeur Mining stake by 45.4% in the first quarter, selling 78,741 shares and retaining 94,608 shares valued at approximately $1.8 million. Other institutions, including Goldman Sachs and UBS Asset Management, increased their positions; institutional investors own 63.01% of the company.
• Coeur Mining reported quarterly revenue of $856.2 million, up 137.8% year over year and above analyst estimates, though earnings per share of $0.36 slightly missed expectations. The company also paid a $0.02-per-share dividend.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $26.39, despite some recent downgrades. Shares opened at $16.24, while an insider separately sold 39,000 shares at an average price of $18.60.

Rathbones Group PLC lowered its holdings in Coeur Mining, Inc. (NYSE:CDE - Free Report) by 45.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,608 shares of the basic materials company's stock after selling 78,741 shares during the quarter. Rathbones Group PLC's holdings in Coeur Mining were worth $1,776,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CDE. AQR Capital Management LLC grew its position in Coeur Mining by 60.2% during the 1st quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company's stock worth $4,434,000 after purchasing an additional 281,489 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Coeur Mining by 18.1% in the first quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company's stock worth $49,449,000 after buying an additional 1,278,110 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Coeur Mining by 122.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company's stock worth $14,393,000 after acquiring an additional 1,339,138 shares during the period. Focus Partners Wealth acquired a new stake in Coeur Mining during the first quarter worth about $60,000. Finally, Intech Investment Management LLC grew its holdings in Coeur Mining by 58.4% during the first quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company's stock worth $1,594,000 after acquiring an additional 99,256 shares during the period. Hedge funds and other institutional investors own 63.01% of the company's stock.

Insiders Place Their Bets

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

Coeur Mining Stock Up 4.4%

Shares of CDE opened at $16.24 on Wednesday. The firm has a market cap of $16.80 billion, a P/E ratio of 14.00 and a beta of 1.32. Coeur Mining, Inc. has a 12 month low of $9.11 and a 12 month high of $27.77. The stock's 50 day moving average is $16.47 and its two-hundred day moving average is $19.25. The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The business had revenue of $856.19 million for the quarter, compared to analyst estimates of $815.59 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company's quarterly revenue was up 137.8% compared to the same quarter last year. Analysts predict that Coeur Mining, Inc. will post 1.25 earnings per share for the current fiscal year.

Coeur Mining Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were issued a $0.02 dividend. This represents a yield of 23.0%. The ex-dividend date of this dividend was Friday, May 22nd. Coeur Mining's payout ratio is presently 3.45%.

Analysts Set New Price Targets

CDE has been the subject of a number of analyst reports. Scotiabank reissued an "outperform" rating and issued a $28.50 price target on shares of Coeur Mining in a report on Tuesday, July 14th. Cantor Fitzgerald cut shares of Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 price objective on the stock. in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Coeur Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Coeur Mining in a research note on Wednesday, June 24th. Finally, Canaccord Genuity Group upgraded shares of Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 target price for the company in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Coeur Mining has an average rating of "Moderate Buy" and a consensus target price of $26.39.

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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