Parvin Asset Management LLC Acquires Shares of 92,100 Coeur Mining, Inc. $CDE

Parvin Asset Management LLC purchased a new stake in Coeur Mining, Inc. (NYSE:CDE) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 92,100 shares of the basic materials company’s stock, valued at approximately $1,503,000. Coeur Mining makes up approximately 1.2% of Parvin Asset Management LLC’s holdings, making the stock its 16th biggest holding.

Several other large investors also recently bought and sold shares of CDE. Bank of America Corp DE raised its position in Coeur Mining by 83.2% in the first quarter. Bank of America Corp DE now owns 5,429,896 shares of the basic materials company’s stock valued at $101,919,000 after purchasing an additional 2,466,122 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Coeur Mining by 92.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company’s stock worth $222,922,000 after purchasing an additional 6,012,718 shares during the period. Norges Bank acquired a new stake in shares of Coeur Mining during the 4th quarter worth about $128,389,000. Allspring Global Investments Holdings LLC raised its holdings in Coeur Mining by 81.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,681,172 shares of the basic materials company’s stock valued at $69,896,000 after buying an additional 1,653,323 shares during the period. Finally, California Public Employees Retirement System lifted its position in Coeur Mining by 40.9% in the first quarter. California Public Employees Retirement System now owns 1,562,257 shares of the basic materials company’s stock valued at $29,324,000 after buying an additional 453,156 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CDE shares. Scotiabank reduced their price target on shares of Coeur Mining from $28.50 to $26.50 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Zacks Research upgraded Coeur Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Cantor Fitzgerald cut Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.50.

Insider Activity at Coeur Mining

In other Coeur Mining news, CFO Thomas S. Whelan sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $20.87, for a total transaction of $125,220.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Kenneth J. Watkinson sold 39,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $18.60, for a total transaction of $725,400.00. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 80,000 shares of company stock valued at $1,569,870. Company insiders own 0.90% of the company’s stock.

Coeur Mining Stock Down 0.7%

Coeur Mining stock opened at $21.43 on Thursday. The stock has a market cap of $22.03 billion, a PE ratio of 18.32 and a beta of 1.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 2.44. The stock’s fifty day moving average is $16.96 and its two-hundred day moving average is $18.84. Coeur Mining, Inc. has a 1-year low of $12.05 and a 1-year high of $27.77.

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 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 quarter in the previous year, the company posted $0.20 EPS. The company’s revenue was up 125.8% compared to the same quarter last year. On average, sell-side analysts expect that Coeur Mining, Inc. will post 0.86 EPS for the current fiscal year.

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.