Coeur Mining, Inc. $CDE Shares Sold by NewGen Asset Management Ltd

NewGen Asset Management Ltd cut its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 625,000 shares of the basic materials company’s stock after selling 92,800 shares during the quarter. Coeur Mining makes up 4.5% of NewGen Asset Management Ltd’s portfolio, making the stock its 5th largest holding. NewGen Asset Management Ltd owned about 0.10% of Coeur Mining worth $11,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Convergence Investment Partners LLC increased its stake in shares of Coeur Mining by 13.3% in the first quarter. Convergence Investment Partners LLC now owns 77,170 shares of the basic materials company’s stock valued at $1,448,000 after purchasing an additional 9,070 shares during the period. Meeder Asset Management Inc. lifted its holdings in Coeur Mining by 2,741.7% in the 1st quarter. Meeder Asset Management Inc. now owns 69,253 shares of the basic materials company’s stock valued at $1,300,000 after acquiring an additional 66,816 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Coeur Mining by 34.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company’s stock valued at $241,484,000 after purchasing an additional 3,291,431 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Coeur Mining by 181.8% in the 1st quarter. Parallel Advisors LLC now owns 3,260 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 2,103 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Coeur Mining in the 1st quarter worth approximately $95,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Stock Performance

NYSE:CDE opened at $14.17 on Tuesday. Coeur Mining, Inc. has a 12-month low of $8.56 and a 12-month high of $27.77. The company has a quick ratio of 2.14, a current ratio of 3.73 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $17.11 and a 200 day moving average price of $19.57. The firm has a market capitalization of $14.66 billion, a PE ratio of 12.21 and a beta of 1.29.

Coeur Mining (NYSE:CDE) last posted its 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%.Coeur Mining’s quarterly revenue was up 137.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 EPS. Research analysts anticipate that Coeur Mining, Inc. will post 1.38 earnings per share for the current fiscal year.

Coeur Mining Announces Dividend

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

Insider Transactions at Coeur Mining

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CDE. Roth Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of Coeur Mining in a report on Friday, May 8th. Canaccord Genuity Group upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, April 29th. Wall Street Zen downgraded Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Scotiabank reissued an “outperform” rating and issued a $28.50 target price on shares of Coeur Mining in a research report on Tuesday, July 14th. Finally, Zacks Research lowered 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 assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.39.

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.