Principal Financial Group Inc. Reduces Holdings in Coeur Mining, Inc. $CDE

Principal Financial Group Inc. reduced its position in shares of Coeur Mining, Inc. (NYSE:CDE) by 28.6% during the first quarter, HoldingsChannel reports. The firm owned 648,304 shares of the basic materials company’s stock after selling 259,271 shares during the quarter. Principal Financial Group Inc.’s holdings in Coeur Mining were worth $12,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its holdings in Coeur Mining by 34.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 79,595 shares of the basic materials company’s stock valued at $1,494,000 after purchasing an additional 20,271 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Coeur Mining during the 1st quarter worth $745,000. Arlington Capital Management Inc. purchased a new stake in Coeur Mining during the 1st quarter worth $242,000. Midwest Trust Co acquired a new position in Coeur Mining in the 1st quarter worth $653,000. Finally, Fifth Third Bancorp acquired a new position in Coeur Mining in the 1st quarter worth $124,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Coeur Mining Price Performance

CDE opened at $15.14 on Friday. The company has a market capitalization of $15.67 billion, a P/E ratio of 13.06 and a beta of 1.29. The company has a 50-day moving average of $16.80 and a 200-day moving average of $19.49. 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 1-year low of $8.56 and a 1-year high of $27.77.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $856.19 million for 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 for the quarter was up 137.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. Equities analysts expect that Coeur Mining, Inc. will post 1.25 EPS for the current fiscal year.

Coeur Mining Announces Dividend

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

Analyst Upgrades and Downgrades

CDE has been the subject of several recent analyst reports. Canaccord Genuity Group upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, April 29th. Cantor Fitzgerald lowered Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Thursday, May 7th. Wall Street Zen cut Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Capital reissued a “buy” rating and issued a $25.00 price target on shares of Coeur Mining in a report on Friday, May 8th. Finally, Zacks Research lowered Coeur Mining from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.39.

Insider Buying and Selling

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 stock was sold at an average price of $18.60, for a total transaction of $725,400.00. Following the transaction, the chief accounting officer 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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.