Van ECK Associates Corp Has $1.10 Billion Position in Coeur Mining, Inc. $CDE

Key Points

• Van ECK Associates remains the largest highlighted holder of Coeur Mining, even after cutting its stake by 6.9% in the fourth quarter. It still owned 61.46 million shares worth about $1.10 billion, representing 9.57% of the company.
• Coeur Mining reported mixed quarterly results: EPS of $0.36 slightly missed estimates, while revenue of $856.19 million beat expectations and jumped 137.8% from a year earlier. Analysts currently expect the company to earn 1.46 EPS for the full year.
• Wall Street sentiment is generally positive, with the stock carrying a consensus rating of “Moderate Buy” and an average price target of $26.28. Several firms recently reiterated or upgraded bullish ratings, although one insider sale by the CAO was also disclosed.

Van ECK Associates Corp reduced its position in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,459,916 shares of the basic materials company's stock after selling 4,542,277 shares during the period. Coeur Mining comprises about 0.9% of Van ECK Associates Corp's investment portfolio, making the stock its 27th largest holding. Van ECK Associates Corp owned 9.57% of Coeur Mining worth $1,095,830,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Triumph Capital Management raised its holdings in Coeur Mining by 300.0% during the fourth quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company's stock worth $29,000 after acquiring an additional 1,200 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Coeur Mining by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company's stock valued at $30,000 after buying an additional 1,435 shares during the period. Kingdom Financial Group LLC. bought a new stake in Coeur Mining in the fourth quarter valued at approximately $32,000. JPL Wealth Management LLC bought a new position in shares of Coeur Mining during the third quarter worth approximately $35,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Coeur Mining during the fourth quarter worth approximately $36,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Stock Up 4.9%

Shares of CDE opened at $17.20 on Friday. The company has a market capitalization of $17.80 billion, a PE ratio of 14.83 and a beta of 1.25. Coeur Mining, Inc. has a 12 month low of $8.46 and a 12 month high of $27.77. The stock's 50-day moving average price is $18.52 and its two-hundred day moving average price is $19.68. 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 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $856.19 million for the quarter, compared to analyst estimates of $815.59 million. Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The firm's quarterly revenue was up 137.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, analysts anticipate that Coeur Mining, Inc. will post 1.46 EPS for the current year.

Coeur Mining Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were paid 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 payout ratio is currently 3.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CDE. Roth Mkm reissued a "buy" rating and set a $25.00 price target on shares of Coeur Mining in a research report on Friday, May 8th. Canaccord Genuity Group raised Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 target price on the stock in a report on Wednesday, April 29th. Scotiabank began coverage on Coeur Mining in a report on Friday. They issued a "sector outperform" rating and a $27.50 target price on the stock. Canadian Imperial Bank of Commerce began coverage on Coeur Mining in a report on Tuesday, March 10th. They issued an "outperform" rating and a $40.00 target price on the stock. Finally, Weiss Ratings downgraded Coeur Mining from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 27th. One equities 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 currently has a consensus rating of "Moderate Buy" and an average price target of $26.28.

Insider Activity

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was 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 of the company's stock, valued at $1,435,994.40. The trade was a 33.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by corporate insiders.

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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