Norges Bank Makes New Investment in Coeur Mining, Inc. $CDE

Norges Bank purchased a new stake in shares of Coeur Mining, Inc. (NYSE:CDE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 7,200,721 shares of the basic materials company’s stock, valued at approximately $128,389,000.

A number of other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp grew its stake in Coeur Mining by 55.8% in the 3rd quarter. Van ECK Associates Corp now owns 66,002,193 shares of the basic materials company’s stock valued at $1,238,201,000 after buying an additional 23,646,265 shares during the last quarter. Tidal Investments LLC lifted its position in Coeur Mining by 55.3% during the 2nd 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Coeur Mining by 36.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,857,511 shares of the basic materials company’s stock valued at $447,567,000 after acquiring an additional 6,352,828 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Coeur Mining by 38.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 14,303,254 shares of the basic materials company’s stock valued at $268,329,000 after acquiring an additional 3,982,085 shares during the period. Finally, Jupiter Asset Management Ltd. grew its position in shares of Coeur Mining by 38.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 8,537,254 shares of the basic materials company’s stock valued at $152,219,000 after purchasing an additional 2,366,413 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Coeur Mining Trading Up 2.1%

Shares of CDE stock opened at $18.53 on Friday. The firm has a fifty day moving average of $18.66 and a 200-day moving average of $19.63. The stock has a market cap of $19.17 billion, a price-to-earnings ratio of 15.97 and a beta of 1.25. Coeur Mining, Inc. has a 52-week low of $8.46 and a 52-week high of $27.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73.

Coeur Mining (NYSE:CDE) last issued its 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). The business had revenue of $856.19 million for 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%. Coeur Mining’s revenue was up 137.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. On average, equities research analysts forecast that Coeur Mining, Inc. will post 1.46 earnings per share for the current fiscal year.

Coeur Mining Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.02 per share. This represents a yield of 23.0%. The ex-dividend date of this dividend is Friday, May 22nd. Coeur Mining’s payout ratio is presently 3.45%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Cantor Fitzgerald lowered Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research note on Thursday, May 7th. 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. BMO Capital Markets initiated 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. Roth Mkm reiterated a “buy” rating and set a $25.00 price target on shares of Coeur Mining in a report on Friday, May 8th. Finally, Canaccord Genuity Group raised Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.56.

Insiders Place Their Bets

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

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.