Electrum Group LLC Makes New $3.27 Billion Investment in Coeur Mining, Inc. $CDE

Electrum Group LLC acquired a new position in shares of Coeur Mining, Inc. (NYSE:CDE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 200,315 shares of the basic materials company’s stock, valued at approximately $3,269,141,000. Coeur Mining makes up about 0.1% of Electrum Group LLC’s investment portfolio, making the stock its 10th biggest position.

A number of other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in Coeur Mining during the 2nd quarter worth approximately $104,760,000. Steadtrust LLC grew its position in Coeur Mining by 11.1% in the second quarter. Steadtrust LLC now owns 182,709 shares of the basic materials company’s stock valued at $2,982,000 after acquiring an additional 18,200 shares in the last quarter. Polianta Ltd raised its stake in shares of Coeur Mining by 30.5% during the second quarter. Polianta Ltd now owns 114,200 shares of the basic materials company’s stock valued at $1,863,000 after purchasing an additional 26,700 shares during the period. GK Wealth Management LLC purchased a new stake in shares of Coeur Mining during the second quarter valued at approximately $663,000. Finally, GAMMA Investing LLC lifted its position in shares of Coeur Mining by 87.4% during the second quarter. GAMMA Investing LLC now owns 17,160 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 8,003 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Stock Down 4.1%

NYSE:CDE opened at $18.52 on Wednesday. The company has a market capitalization of $19.04 billion, a price-to-earnings ratio of 15.83 and a beta of 1.32. Coeur Mining, Inc. has a one year low of $11.23 and a one year high of $27.77. The stock has a 50-day simple moving average of $16.50 and a 200 day simple moving average of $18.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.44 and a current ratio of 3.65.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company earned $0.20 EPS. The company’s quarterly revenue was up 125.8% compared to the same quarter last year. Sell-side analysts predict that Coeur Mining, Inc. will post 0.95 EPS for the current fiscal year.

Insider Buying and Selling at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the business’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 directly owned 77,204 shares in the company, valued at approximately $1,435,994.40. The trade was a 33.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CDE. Roth Capital set a $19.00 target price on shares of Coeur Mining in a research note on Friday, August 7th. Wall Street Zen cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank dropped their target price on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Zacks Research downgraded Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research note on Wednesday, June 24th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

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.