Bank of New York Mellon Corp Purchases 1,972,264 Shares of Coeur Mining, Inc. $CDE

Bank of New York Mellon Corp raised its holdings in Coeur Mining, Inc. (NYSE:CDE) by 86.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,244,553 shares of the basic materials company’s stock after acquiring an additional 1,972,264 shares during the quarter. Bank of New York Mellon Corp owned about 0.66% of Coeur Mining worth $79,670,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC boosted its position in shares of 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 worth $183,709,000 after purchasing an additional 7,382,955 shares during the last quarter. Norges Bank bought a new stake in Coeur Mining in the fourth quarter valued at about $128,389,000. Goldman Sachs Group Inc. increased its holdings in Coeur Mining by 92.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 12,502,645 shares of the basic materials company’s stock valued at $222,922,000 after purchasing an additional 6,012,718 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Coeur Mining by 38.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 14,303,254 shares of the basic materials company’s stock valued at $268,329,000 after buying an additional 3,982,085 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its stake in Coeur Mining by 38.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 8,537,254 shares of the basic materials company’s stock valued at $152,219,000 after buying an additional 2,366,413 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Roth Capital restated a “buy” rating and set a $25.00 price objective on shares of Coeur Mining in a report on Friday, May 8th. Wall Street Zen lowered shares of Coeur Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. ATB Cormark Capital Markets raised shares of Coeur Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, March 24th. BMO Capital Markets initiated coverage on shares of Coeur Mining in a report on Wednesday, March 25th. They issued an “outperform” rating and a $27.00 price target for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Coeur Mining currently has an average rating of “Moderate Buy” and an average price target of $26.39.

Coeur Mining Trading Up 8.0%

NYSE CDE opened at $15.29 on Wednesday. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 13.18 and a beta of 1.29. The stock’s 50 day moving average price is $17.01 and its two-hundred day moving average price is $19.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.14 and a current ratio of 3.73. Coeur Mining, Inc. has a 52 week low of $8.56 and a 52 week high of $27.77.

Coeur Mining (NYSE:CDE) last released its 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). The business had revenue of $856.19 million during 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 revenue for the quarter was up 137.8% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. As a group, analysts anticipate that Coeur Mining, Inc. will post 1.25 earnings per share for the current fiscal year.

Coeur Mining Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a $0.02 dividend. This represents a dividend yield of 23.0%. The ex-dividend date of this dividend was Friday, May 22nd. Coeur Mining’s dividend payout ratio is presently 3.45%.

Insiders Place Their Bets

In related 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.