Coeur Mining, Inc. $CDE Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Coeur Mining, Inc. (NYSE:CDE) by 28.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 648,304 shares of the basic materials company’s stock after selling 259,271 shares during the quarter. Principal Financial Group Inc. owned about 0.10% of Coeur Mining worth $12,169,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDE. Teachers Retirement System of The State of Kentucky grew its stake in shares of Coeur Mining by 34.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 79,595 shares of the basic materials company’s stock valued at $1,494,000 after buying an additional 20,271 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Coeur Mining during the 1st quarter worth $745,000. Arlington Capital Management Inc. purchased a new position in shares of Coeur Mining in the 1st quarter worth $242,000. Midwest Trust Co purchased a new position in shares of Coeur Mining in the 1st quarter worth $653,000. Finally, Fifth Third Bancorp acquired a new position in Coeur Mining in the first quarter valued at $124,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

CDE has been the subject of a number of research reports. Cantor Fitzgerald downgraded Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research report on Thursday, May 7th. Zacks Research downgraded Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Wall Street Zen lowered Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Canaccord Genuity Group upgraded Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday, April 29th. Finally, Roth Capital reiterated a “buy” rating and set a $25.00 target price on shares of Coeur Mining in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.39.

Coeur Mining Stock Performance

Shares of CDE stock opened at $15.14 on Friday. The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07. The company has a market cap of $15.67 billion, a PE ratio of 13.06 and a beta of 1.29. The company’s fifty day simple moving average is $16.80 and its 200-day simple moving average is $19.49. Coeur Mining, Inc. has a 52 week low of $8.56 and a 52 week high of $27.77.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results 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 business had revenue of $856.19 million for the quarter, compared to analysts’ expectations of $815.59 million. During the same period last year, the company posted $0.11 earnings per share. The firm’s revenue for the quarter was up 137.8% on a year-over-year basis. As a group, equities research analysts anticipate that Coeur Mining, Inc. will post 1.25 EPS for the current year.

Coeur Mining Dividend Announcement

The business also recently disclosed 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. This represents a dividend yield of 23.0%. The ex-dividend date was Friday, May 22nd. Coeur Mining’s payout ratio is currently 3.45%.

Insider Activity at Coeur Mining

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.60, for a total value of $725,400.00. Following the completion of the sale, the chief accounting officer owned 77,204 shares of the company’s stock, valued at $1,435,994.40. This represents a 33.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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.