NewGen Asset Management Ltd Makes New $12.80 Million Investment in Coeur Mining, Inc. $CDE

NewGen Asset Management Ltd purchased a new position in shares of Coeur Mining, Inc. (NYSE:CDE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 717,800 shares of the basic materials company’s stock, valued at approximately $12,798,000. Coeur Mining makes up 7.9% of NewGen Asset Management Ltd’s holdings, making the stock its 3rd largest holding.

Other large investors also recently modified their holdings of the company. Triumph Capital Management boosted its holdings in shares of Coeur Mining by 300.0% during the 4th quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 1,200 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Coeur Mining by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 1,435 shares in the last quarter. Kingdom Financial Group LLC. bought a new position in Coeur Mining in the fourth quarter valued at about $32,000. Transamerica Financial Advisors LLC bought a new position in Coeur Mining in the fourth quarter valued at about $34,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Coeur Mining during the third quarter valued at about $35,000. 63.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm’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 transaction, the chief accounting officer owned 77,204 shares in the company, valued at approximately $1,435,994.40. This trade represents a 33.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

Coeur Mining Stock Up 8.4%

Shares of CDE opened at $18.64 on Tuesday. The stock’s 50-day moving average price is $18.51 and its two-hundred day moving average price is $19.74. Coeur Mining, Inc. has a 12 month low of $8.46 and a 12 month high of $27.77. The company has a market capitalization of $19.28 billion, a PE ratio of 16.07 and a beta of 1.25. The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The company had revenue of $856.19 million during the quarter, compared to analyst estimates of $815.59 million. During the same period in the previous year, the company posted $0.11 EPS. The company’s quarterly revenue was up 137.8% on a year-over-year basis. On average, analysts anticipate that Coeur Mining, Inc. will post 1.46 EPS for the current year.

Coeur Mining Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were issued a $0.02 dividend. 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%.

Analysts Set New Price Targets

CDE has been the topic of several research reports. Zacks Research upgraded Coeur Mining from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce started coverage on shares of Coeur Mining in a report on Tuesday, March 10th. They issued an “outperform” rating and a $40.00 price objective for the company. BMO Capital Markets started coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They set an “outperform” rating and a $27.00 target price on the stock. Weiss Ratings lowered shares of Coeur Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 27th. Finally, Wall Street Zen cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.28.

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.