Meeder Asset Management Inc. Boosts Position in Coeur Mining, Inc. $CDE

Meeder Asset Management Inc. raised its holdings in shares of Coeur Mining, Inc. (NYSE:CDE) by 2,741.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,253 shares of the basic materials company’s stock after acquiring an additional 66,816 shares during the period. Meeder Asset Management Inc.’s holdings in Coeur Mining were worth $1,300,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings 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 worth $3,328,000 after purchasing an additional 110,660 shares during the last quarter. Rathbones Group PLC boosted its holdings in Coeur Mining by 146.0% in the fourth quarter. Rathbones Group PLC now owns 173,349 shares of the basic materials company’s stock valued at $3,091,000 after purchasing an additional 102,869 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Coeur Mining by 92.6% in the fourth 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. Electrum Group LLC acquired a new stake in Coeur Mining during the 4th quarter worth about $8,582,000. Finally, Norges Bank acquired a new stake in Coeur Mining during the 4th quarter worth about $128,389,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coeur Mining

In other 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 transaction of $725,400.00. Following the completion of the transaction, the chief accounting officer directly owned 77,204 shares of the company’s stock, valued at $1,435,994.40. This represents a 33.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Coeur Mining Stock Down 1.3%

CDE stock opened at $14.17 on Tuesday. Coeur Mining, Inc. has a one year low of $8.56 and a one year high of $27.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73. The firm’s fifty day moving average is $17.11 and its 200 day moving average is $19.57. The firm has a market cap of $14.66 billion, a PE ratio of 12.21 and a beta of 1.29.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data 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). Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The firm had revenue of $856.19 million during the quarter, compared to analyst estimates of $815.59 million. During the same quarter last year, the company posted $0.11 EPS. The company’s revenue was up 137.8% on a year-over-year basis. On average, research analysts forecast that Coeur Mining, Inc. will post 1.38 EPS for the current year.

Coeur Mining Announces Dividend

The firm also recently declared 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 of this dividend was Friday, May 22nd. This represents a yield of 23.0%. Coeur Mining’s dividend payout ratio is presently 3.45%.

Wall Street Analysts Forecast Growth

CDE has been the subject of several analyst reports. Canaccord Genuity Group raised Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, April 29th. BMO Capital Markets assumed coverage on Coeur Mining in a report on Wednesday, March 25th. They set an “outperform” rating and a $27.00 target price on the stock. Scotiabank reiterated an “outperform” rating and set a $28.50 price target on shares of Coeur Mining in a research report on Tuesday, July 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Finally, Zacks Research downgraded Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.39.

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.