Sumitomo Mitsui Trust Group Inc. Takes $36.18 Million Position in Coeur Mining, Inc. $CDE

Key Points

• Sumitomo Mitsui Trust Group bought a new stake in Coeur Mining during the first quarter, acquiring 1.93 million shares worth about $36.2 million. The position represented roughly 0.30% of the company.
• Institutional ownership remains high, with 63.01% of Coeur Mining’s stock held by institutions. Several other investors also added new positions or increased existing holdings.
• Analysts are mostly constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $26.28. Coeur Mining also reported strong year-over-year revenue growth in its latest quarter, even though EPS slightly missed estimates.

Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,927,747 shares of the basic materials company's stock, valued at approximately $36,184,000. Sumitomo Mitsui Trust Group Inc. owned approximately 0.30% of Coeur Mining at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CDE. Resona Asset Management Co. Ltd. bought a new position in shares of Coeur Mining during the 1st quarter worth approximately $5,521,000. Cvfg LLC purchased a new stake in shares of Coeur Mining during the first quarter valued at approximately $2,320,000. Abel Hall LLC increased its position in shares of Coeur Mining by 32.8% during the first quarter. Abel Hall LLC now owns 51,445 shares of the basic materials company's stock valued at $966,000 after acquiring an additional 12,704 shares during the last quarter. Bogart Wealth LLC lifted its holdings in Coeur Mining by 206.9% during the first quarter. Bogart Wealth LLC now owns 9,804 shares of the basic materials company's stock worth $184,000 after acquiring an additional 6,609 shares during the period. Finally, DGS Capital Management LLC bought a new stake in Coeur Mining during the first quarter worth $334,000. 63.01% of the stock is owned by institutional investors.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of Coeur Mining stock in a transaction on Monday, June 1st. The stock was sold at an average price of $18.60, for a total value 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. The trade was a 33.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CDE. Scotiabank began coverage on Coeur Mining in a research note on Friday, June 12th. They issued a "sector outperform" rating and a $27.50 price objective for the company. 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. BMO Capital Markets started coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They set an "outperform" rating and a $27.00 price target for the company. Weiss Ratings restated a "hold (c+)" rating on shares of Coeur Mining in a report on Wednesday, June 24th. Finally, Canaccord Genuity Group raised shares of 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.28.

Coeur Mining Stock Performance

NYSE CDE opened at $15.61 on Tuesday. The company's 50 day moving average is $17.45 and its 200-day moving average is $19.70. Coeur Mining, Inc. has a 12-month low of $8.56 and a 12-month high of $27.77. The company has a quick ratio of 2.14, a current ratio of 3.73 and a debt-to-equity ratio of 0.07. The firm has a market cap of $16.14 billion, a P/E ratio of 13.45 and a beta of 1.29.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 EPS 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 during the quarter, compared to the consensus estimate of $815.59 million. During the same period last year, the business posted $0.11 earnings per share. The firm's quarterly revenue was up 137.8% on a year-over-year basis. Sell-side analysts predict that Coeur Mining, Inc. will post 1.39 earnings per share for the current year.

Coeur Mining Announces Dividend

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

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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