Caxton Associates LLP Cuts Holdings in Coeur Mining, Inc. $CDE

Caxton Associates LLP decreased its stake in Coeur Mining, Inc. (NYSE:CDE) by 86.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 15,238 shares of the basic materials company’s stock after selling 96,964 shares during the quarter. Caxton Associates LLP’s holdings in Coeur Mining were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CDE. State Street Corp grew its position in Coeur Mining by 6.7% in the fourth quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock worth $432,390,000 after acquiring an additional 1,529,394 shares in the last quarter. Tidal Investments LLC raised its position in Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company’s stock valued at $183,709,000 after purchasing an additional 7,382,955 shares in the last quarter. Geode Capital Management LLC raised its position in Coeur Mining by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,586,550 shares of the basic materials company’s stock valued at $277,953,000 after purchasing an additional 524,646 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Coeur Mining by 1.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 14,563,232 shares of the basic materials company’s stock valued at $259,662,000 after purchasing an additional 259,978 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Coeur Mining by 34.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,872,677 shares of the basic materials company’s stock worth $241,484,000 after purchasing an additional 3,291,431 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group upgraded 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Coeur Mining in a report on Wednesday, June 24th. Scotiabank restated an “outperform” rating and issued a $28.50 target price on shares of Coeur Mining in a research report on Tuesday, July 14th. Roth Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Coeur Mining in a research note on Friday, May 8th. Finally, Wall Street Zen cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.39.

Insiders Place Their Bets

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the firm’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 transaction, the chief accounting officer directly owned 77,204 shares in the company, valued at $1,435,994.40. This trade represents a 33.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

Coeur Mining Stock Performance

Coeur Mining stock opened at $14.90 on Wednesday. The firm has a fifty day simple moving average of $16.72 and a two-hundred day simple moving average of $19.44. The company has a quick ratio of 2.14, a current ratio of 3.73 and a debt-to-equity ratio of 0.07. Coeur Mining, Inc. has a twelve month low of $8.56 and a twelve month high of $27.77. The company has a market capitalization of $15.42 billion, a PE ratio of 12.85 and a beta of 1.29.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 31.15% and a return on equity of 15.38%. The firm’s quarterly revenue was up 137.8% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. Research analysts expect that Coeur Mining, Inc. will post 1.25 EPS for the current year.

Coeur Mining Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were issued 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 dividend payout ratio is currently 3.45%.

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.