Electrum Group LLC Acquires New Stake in Coeur Mining, Inc. $CDE

Electrum Group LLC acquired a new stake in shares of Coeur Mining, Inc. (NYSE:CDE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 481,315 shares of the basic materials company’s stock, valued at approximately $8,582,000. Coeur Mining comprises 0.7% of Electrum Group LLC’s portfolio, making the stock its 8th biggest holding.

Other hedge funds also recently bought and sold shares of the company. Kingdom Financial Group LLC. purchased a new stake in Coeur Mining during the fourth quarter valued at $32,000. JPL Wealth Management LLC bought a new stake in Coeur Mining during the third quarter valued at about $35,000. Lodestone Wealth Management LLC bought a new stake in Coeur Mining during the fourth quarter valued at about $36,000. Sound Income Strategies LLC grew its holdings in Coeur Mining by 99.2% during the fourth quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 996 shares during the period. Finally, Comerica Bank grew its holdings in Coeur Mining by 121.6% during the fourth quarter. Comerica Bank now owns 2,473 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,357 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

CDE has been the subject of several recent research reports. Canaccord Genuity Group raised Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, April 29th. Canadian Imperial Bank of Commerce initiated coverage on Coeur Mining in a report on Tuesday, March 10th. They set an “outperform” rating and a $40.00 price target for the company. ATB Cormark Capital Markets raised Coeur Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, March 24th. Weiss Ratings lowered Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 27th. Finally, Cantor Fitzgerald lowered Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a report on Thursday, May 7th. Two equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.56.

Insider Transactions at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were 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 directly owned 77,204 shares of the company’s stock, valued at $1,435,994.40. This trade represents a 33.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Coeur Mining Stock Performance

NYSE:CDE opened at $16.10 on Wednesday. The firm has a market capitalization of $16.65 billion, a PE ratio of 13.88 and a beta of 1.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73. The stock has a 50-day simple moving average of $18.62 and a two-hundred day simple moving average of $19.67. Coeur Mining, Inc. has a 52-week low of $8.46 and a 52-week high of $27.77.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $856.19 million during the quarter, compared to the consensus estimate of $815.59 million. Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The business’s revenue was up 137.8% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. Analysts forecast that Coeur Mining, Inc. will post 1.46 EPS for the current 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 dividend payout ratio (DPR) is 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.