Quantinno Capital Management LP Boosts Stake in Coeur Mining, Inc. $CDE

Quantinno Capital Management LP lifted its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 529.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 224,300 shares of the basic materials company’s stock after acquiring an additional 188,682 shares during the period. Quantinno Capital Management LP’s holdings in Coeur Mining were worth $4,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in Coeur Mining by 92.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company’s stock worth $222,922,000 after buying an additional 6,012,718 shares during the period. Norges Bank acquired a new position in shares of Coeur Mining during the 4th quarter valued at about $128,389,000. Electrum Group LLC acquired a new position in shares of Coeur Mining during the 4th quarter valued at about $8,582,000. Eschler Asset Management LLP purchased a new position in shares of Coeur Mining during the 4th quarter worth about $2,295,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Coeur Mining by 81.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,681,172 shares of the basic materials company’s stock worth $69,896,000 after acquiring an additional 1,653,323 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

CDE has been the topic of several research reports. Canaccord Genuity Group raised Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, April 29th. Scotiabank restated an “outperform” rating and set a $26.50 price target on shares of Coeur Mining in a research note on Friday. Wall Street Zen lowered Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Capital set a $19.00 target price on Coeur Mining in a report on Friday. Finally, Zacks Research lowered shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Insiders Place Their Bets

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $18.60, for a total value of $725,400.00. Following the transaction, the chief accounting officer directly 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 filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

Coeur Mining Price Performance

Shares of CDE stock opened at $17.41 on Friday. The firm has a fifty day simple moving average of $16.37 and a 200-day simple moving average of $19.17. The company has a market capitalization of $17.90 billion, a PE ratio of 14.88 and a beta of 1.32. Coeur Mining, Inc. has a twelve month low of $10.92 and a twelve month high of $27.77. The company has a current ratio of 3.65, 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, August 5th. The basic materials company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.14). Coeur Mining had a net margin of 26.82% and a return on equity of 11.03%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the company posted $0.20 EPS. The company’s revenue for the quarter was up 125.8% on a year-over-year basis. Equities research analysts anticipate that Coeur Mining, Inc. will post 1.25 earnings per share for the current fiscal year.

Coeur Mining Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.02 per share. The ex-dividend date was Friday, May 22nd. This represents a yield of 23.0%. Coeur Mining’s payout ratio is presently 3.42%.

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.