TSP Capital Management Group LLC Has $32.65 Million Stake in Coeur Mining, Inc. $CDE

Key Points

• TSP Capital Management Group increased its stake in Coeur Mining by 311.3% in the first quarter, making CDE its largest holding. The fund now owns 1.74 million shares valued at about $32.65 million.
• Institutional interest in Coeur Mining remains strong, with several large funds adding to positions and 63.01% of the stock held by institutional investors overall. Other major holders include Van ECK Associates, Tidal Investments, and Norges Bank.
• Analysts are mostly bullish on Coeur Mining, with an average rating of “Moderate Buy” and an average price target of $26.28. The company recently missed EPS estimates by a penny but beat revenue expectations and reported year-over-year revenue growth of 137.8%.

TSP Capital Management Group LLC grew its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 311.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,739,411 shares of the basic materials company's stock after acquiring an additional 1,316,536 shares during the quarter. Coeur Mining accounts for 8.0% of TSP Capital Management Group LLC's holdings, making the stock its biggest position. TSP Capital Management Group LLC owned approximately 0.27% of Coeur Mining worth $32,649,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CDE. Van ECK Associates Corp lifted its position in Coeur Mining by 55.8% during the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company's stock worth $1,238,201,000 after buying an additional 23,646,265 shares in the last quarter. Tidal Investments LLC raised its holdings in Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company's stock worth $183,709,000 after acquiring an additional 7,382,955 shares in the last quarter. Norges Bank bought a new position in Coeur Mining in the fourth quarter valued at approximately $128,389,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Coeur Mining by 36.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company's stock worth $447,567,000 after purchasing an additional 6,352,828 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 worth $222,922,000 after purchasing an additional 6,012,718 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CDE. Canadian Imperial Bank of Commerce assumed coverage on shares of Coeur Mining in a research note on Tuesday, March 10th. They issued an "outperform" rating and a $40.00 target price for the company. BMO Capital Markets assumed coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They issued an "outperform" rating and a $27.00 price objective for the company. Roth Mkm reaffirmed a "buy" rating and issued a $25.00 target price on shares of Coeur Mining in a report on Friday, May 8th. Wall Street Zen downgraded shares of Coeur Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Coeur Mining in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Coeur Mining currently has an average rating of "Moderate Buy" and an average price target of $26.28.

Coeur Mining Price Performance

Shares of CDE opened at $16.53 on Thursday. The company's 50-day moving average is $17.80 and its 200-day moving average is $19.78. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.73 and a quick ratio of 2.14. The firm has a market capitalization of $17.10 billion, a PE ratio of 14.25 and a beta of 1.29. Coeur Mining, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $27.77.

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

Coeur Mining Announces Dividend

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

Insider Buying and Selling

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 transaction of $725,400.00. Following the completion of the sale, the chief accounting officer owned 77,204 shares of the company's stock, valued at approximately $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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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