Weiss Asset Management LP Buys 237,690 Shares of Coeur Mining, Inc. $CDE

Key Points

• Weiss Asset Management significantly increased its Coeur Mining stake by purchasing 237,690 shares in the first quarter, bringing its holdings to 251,651 shares valued at approximately $4.7 million. Institutional investors collectively own 63.01% of the company.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $26.39, although ratings range from Strong Buy to Strong Sell.
• Coeur Mining reported quarterly revenue of $856.19 million, up 137.8% year over year, but slightly missed EPS expectations. The stock opened at $15.14, compared with a 12-month range of $8.56 to $27.77.

Weiss Asset Management LP boosted its stake in shares of Coeur Mining, Inc. (NYSE:CDE - Free Report) by 1,702.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,651 shares of the basic materials company's stock after purchasing an additional 237,690 shares during the quarter. Weiss Asset Management LP's holdings in Coeur Mining were worth $4,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Coeur Mining by 20.9% in the 4th quarter. Allworth Financial LP now owns 2,994 shares of the basic materials company's stock valued at $53,000 after buying an additional 517 shares in the last quarter. Grand Central Investment Group raised its stake in shares of Coeur Mining by 1.5% during the 1st quarter. Grand Central Investment Group now owns 40,514 shares of the basic materials company's stock worth $760,000 after acquiring an additional 612 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Coeur Mining by 7.5% during the 1st quarter. Sanctuary Advisors LLC now owns 11,809 shares of the basic materials company's stock worth $222,000 after acquiring an additional 820 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its position in Coeur Mining by 2.8% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 34,090 shares of the basic materials company's stock valued at $608,000 after acquiring an additional 935 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Coeur Mining by 32.6% during the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the basic materials company's stock valued at $73,000 after acquiring an additional 957 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CDE shares. Canaccord Genuity Group raised shares of Coeur Mining from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a report on Wednesday, April 29th. Scotiabank reiterated an "outperform" rating and set a $28.50 price objective on shares of Coeur Mining in a report on Tuesday, July 14th. Zacks Research cut Coeur Mining from a "hold" rating to a "strong sell" rating in a research report on Friday, July 10th. Cantor Fitzgerald downgraded Coeur Mining from a "buy" rating to a "hold" rating and set a $19.00 target price on the stock. in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Coeur Mining in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Insider Buying and Selling at Coeur Mining

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

Coeur Mining Stock Up 0.1%

CDE stock opened at $15.14 on Monday. The company has a market capitalization of $15.67 billion, a P/E ratio of 13.06 and a beta of 1.29. Coeur Mining, Inc. has a 12 month low of $8.56 and a 12 month high of $27.77. The firm's fifty day simple moving average is $16.80 and its 200-day simple moving average is $19.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.73 and a quick ratio of 2.14.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $856.19 million for the quarter, compared to analysts' expectations of $815.59 million. Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The company's revenue for the quarter was up 137.8% on a year-over-year basis. During the same period last year, the business earned $0.11 EPS. As a group, equities research analysts forecast that Coeur Mining, Inc. will post 1.25 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. Shareholders of record on Friday, May 22nd were given 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%.

About Coeur Mining

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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