Goldman Sachs Group Inc. Buys 6,012,718 Shares of Coeur Mining, Inc. $CDE

Goldman Sachs Group Inc. grew its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 92.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,502,645 shares of the basic materials company’s stock after buying an additional 6,012,718 shares during the period. Goldman Sachs Group Inc.’s holdings in Coeur Mining were worth $222,922,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC increased its position in shares of Coeur Mining by 60.2% in the first quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock worth $4,434,000 after purchasing an additional 281,489 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Coeur Mining by 122.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock worth $14,393,000 after purchasing an additional 1,339,138 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Coeur Mining in the first quarter worth approximately $60,000. Intech Investment Management LLC increased its position in shares of Coeur Mining by 58.4% in the first quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock worth $1,594,000 after purchasing an additional 99,256 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Coeur Mining by 208.2% in the second quarter. Cetera Investment Advisers now owns 70,749 shares of the basic materials company’s stock worth $627,000 after purchasing an additional 47,793 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CDE shares. Canaccord Genuity Group upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, April 29th. ATB Cormark Capital Markets upgraded shares of Coeur Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, March 24th. Weiss Ratings cut shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 27th. Royal Bank Of Canada upped their price objective on shares of Coeur Mining from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, BMO Capital Markets started coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They issued an “outperform” rating and a $27.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Coeur Mining currently has an average rating of “Moderate Buy” and a consensus 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 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 completion of the sale, the chief accounting officer owned 77,204 shares of the company’s stock, valued at $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 available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Coeur Mining Stock Down 12.0%

Shares of CDE opened at $16.27 on Friday. The firm has a market cap of $16.83 billion, a P/E ratio of 14.03 and a beta of 1.25. The stock has a 50 day simple moving average of $18.63 and a two-hundred day simple moving average of $19.60. 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, Inc. has a 1 year low of $8.46 and a 1 year high of $27.77.

Coeur Mining (NYSE:CDE) 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 firm had revenue of $856.19 million during 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 firm’s quarterly revenue was up 137.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. On average, analysts forecast that Coeur Mining, Inc. will post 1.46 earnings per share for the current fiscal year.

Coeur Mining Dividend Announcement

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

Coeur Mining Company 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.