Lazard Asset Management LLC Has $5.26 Million Stake in Coeur Mining, Inc. $CDE

Lazard Asset Management LLC grew its holdings in Coeur Mining, Inc. (NYSE:CDE) by 137.8% in the 1st quarter, Holdings Channel reports. The fund owned 280,489 shares of the basic materials company’s stock after purchasing an additional 162,545 shares during the quarter. Lazard Asset Management LLC’s holdings in Coeur Mining were worth $5,264,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CDE. SG Americas Securities LLC increased its position in shares of Coeur Mining by 145.6% during the fourth quarter. SG Americas Securities LLC now owns 186,664 shares of the basic materials company’s stock valued at $3,328,000 after acquiring an additional 110,660 shares in the last quarter. Rathbones Group PLC lifted its position in Coeur Mining by 146.0% in the 4th quarter. Rathbones Group PLC now owns 173,349 shares of the basic materials company’s stock valued at $3,091,000 after acquiring an additional 102,869 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in 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 valued at $222,922,000 after purchasing an additional 6,012,718 shares during the last quarter. Norges Bank purchased a new stake in Coeur Mining during the 4th quarter valued at $128,389,000. Finally, Electrum Group LLC bought a new stake in shares of Coeur Mining in the 4th quarter worth $8,582,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDE. Wall Street Zen cut Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coeur Mining in a report on Wednesday, June 24th. Scotiabank reissued an “outperform” rating and issued a $28.50 target price on shares of Coeur Mining in a research report on Tuesday, July 14th. Roth Capital restated a “buy” rating and set a $25.00 target price on shares of Coeur Mining in a research note on Friday, May 8th. Finally, Cantor Fitzgerald downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.39.

Insider Transactions at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of the company’s 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 approximately $1,435,994.40. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

Coeur Mining Stock Up 5.3%

Coeur Mining stock opened at $15.41 on Friday. The stock has a market cap of $15.94 billion, a PE ratio of 13.28 and a beta of 1.29. 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, Inc. has a one year low of $8.56 and a one year high of $27.77. The stock has a fifty day moving average of $16.61 and a 200 day moving average of $19.37.

Coeur Mining (NYSE:CDE) last posted its earnings results 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 firm had revenue of $856.19 million during the quarter, compared to the consensus estimate of $815.59 million. Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The firm’s revenue was up 137.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. As a group, sell-side analysts predict that Coeur Mining, Inc. will post 1.25 EPS for the current year.

Coeur Mining Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, June 10th. Investors 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 was Friday, May 22nd. Coeur Mining’s payout ratio is 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.