Strs Ohio Has $2.88 Million Stake in Coeur Mining, Inc. $CDE

Key Points

• Strs Ohio increased its Coeur Mining stake by 86.5% in the first quarter, ending with 153,500 shares valued at about $2.88 million.
• Several other institutional investors also boosted their positions, and hedge funds and institutions now own 63.01% of Coeur Mining’s stock.
• Coeur Mining reported quarterly EPS of $0.36, slightly below estimates, but revenue came in above expectations at $856.19 million; analysts currently rate the stock Moderate Buy with a consensus target price of $26.28.

Strs Ohio raised its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 86.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,500 shares of the basic materials company's stock after buying an additional 71,200 shares during the period. Strs Ohio's holdings in Coeur Mining were worth $2,881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in shares of 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 acquiring an additional 281,489 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Coeur Mining by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company's stock valued at $49,449,000 after acquiring an additional 1,278,110 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Coeur Mining by 122.6% in the 1st 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 purchasing an additional 1,339,138 shares during the last quarter. Focus Partners Wealth acquired a new stake in Coeur Mining in the 1st quarter worth approximately $60,000. Finally, Intech Investment Management LLC boosted its position 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 purchasing an additional 99,256 shares during the period. Institutional investors and hedge funds 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 business's stock in a transaction dated 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. 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 available at this hyperlink. 0.90% of the stock is currently owned by company insiders.

Coeur Mining Stock Performance

CDE stock traded down $0.98 during trading on Tuesday, reaching $16.01. 1,814,942 shares of the stock were exchanged, compared to its average volume of 28,966,385. Coeur Mining, Inc. has a twelve month low of $8.56 and a twelve month high of $27.77. The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $16.56 billion, a P/E ratio of 13.83 and a beta of 1.29. The stock has a 50 day simple moving average of $17.70 and a 200-day simple moving average of $19.78.

Coeur Mining (NYSE:CDE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share (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 analyst estimates of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The company's quarterly revenue was up 137.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 EPS. As a group, sell-side analysts anticipate that Coeur Mining, Inc. will post 1.46 earnings per share for the current year.

Coeur Mining Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, June 10th. Investors 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 dividend payout ratio (DPR) is currently 3.45%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CDE. ATB Cormark Capital Markets upgraded Coeur Mining from a "hold" rating to a "moderate buy" rating in a report on Tuesday, March 24th. Canaccord Genuity Group upgraded shares of Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 target price on the stock in a research note on Wednesday, April 29th. Scotiabank initiated coverage on shares of Coeur Mining in a report on Friday, June 12th. They issued a "sector outperform" rating and a $27.50 target price on the stock. Zacks Research raised shares of Coeur Mining from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets assumed coverage on Coeur Mining in a research report on Wednesday, March 25th. They issued an "outperform" rating and a $27.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.28.

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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