Parvin Asset Management LLC Makes New Investment in Coeur Mining, Inc. $CDE

Parvin Asset Management LLC bought a new stake in Coeur Mining, Inc. (NYSE:CDE) during the 2nd quarter, Holdings Channel reports. The firm bought 92,100 shares of the basic materials company’s stock, valued at approximately $1,503,000. Coeur Mining accounts for about 1.2% of Parvin Asset Management LLC’s portfolio, making the stock its 16th largest holding.

Several other large investors have also modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Coeur Mining by 92.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock worth $524,669,000 after purchasing an additional 13,418,041 shares during the period. State Street Corp increased its stake in Coeur Mining by 6.7% in the 4th quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock valued at $432,390,000 after buying an additional 1,529,394 shares during the period. Tidal Investments LLC increased its stake in Coeur Mining by 55.3% in the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock valued at $183,709,000 after buying an additional 7,382,955 shares during the period. Geode Capital Management LLC raised its position in Coeur Mining by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock worth $277,953,000 after buying an additional 524,646 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in 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 worth $241,484,000 after buying an additional 3,291,431 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Down 0.7%

CDE opened at $21.43 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.44 and a current ratio of 3.65. The company has a market cap of $22.03 billion, a price-to-earnings ratio of 18.32 and a beta of 1.32. Coeur Mining, Inc. has a one year low of $12.05 and a one year high of $27.77. The business’s fifty day moving average is $16.96 and its two-hundred day moving average is $18.84.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.14). The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Coeur Mining had a return on equity of 11.03% and a net margin of 26.82%.Coeur Mining’s quarterly revenue was up 125.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Analysts anticipate that Coeur Mining, Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDE has been the topic of a number of recent analyst reports. Roth Capital set a $19.00 price target on shares of Coeur Mining in a research note on Friday, August 7th. Cantor Fitzgerald downgraded Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research note on Thursday, May 7th. Zacks Research raised Coeur Mining from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research note on Wednesday, June 24th. Finally, Scotiabank cut their price objective on Coeur Mining from $28.50 to $26.50 and set an “outperform” rating for the company in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.50.

Insider Buying and Selling at Coeur Mining

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of the stock in a transaction 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 sale, the chief accounting officer owned 77,204 shares in the company, valued at approximately $1,435,994.40. This represents a 33.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Kenneth Thompson sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.77, for a total value of $519,250.00. Following the completion of the transaction, the director directly owned 257,333 shares of the company’s stock, valued at approximately $5,344,806.41. This trade represents a 8.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 80,000 shares of company stock valued at $1,569,870 over the last three months. Company insiders own 0.90% of the company’s stock.

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.