Allspring Global Investments Holdings LLC Buys 1,653,323 Shares of Coeur Mining, Inc. $CDE

Allspring Global Investments Holdings LLC grew its stake in shares of Coeur Mining, Inc. (NYSE:CDE) by 81.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,681,172 shares of the basic materials company’s stock after acquiring an additional 1,653,323 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.57% of Coeur Mining worth $69,896,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CDE. SG Americas Securities LLC lifted its stake in Coeur Mining by 145.6% in the 4th quarter. SG Americas Securities LLC now owns 186,664 shares of the basic materials company’s stock worth $3,328,000 after purchasing an additional 110,660 shares in the last quarter. Rathbones Group PLC grew its position in shares of Coeur Mining by 146.0% during the fourth quarter. Rathbones Group PLC now owns 173,349 shares of the basic materials company’s stock valued at $3,091,000 after purchasing an additional 102,869 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 valued at $222,922,000 after purchasing an additional 6,012,718 shares in the last quarter. Electrum Group LLC bought a new stake in shares of Coeur Mining in the fourth quarter worth about $8,582,000. Finally, Norges Bank bought a new stake in shares of Coeur Mining in the fourth quarter worth about $128,389,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Price Performance

NYSE:CDE opened at $14.36 on Friday. The firm’s fifty day moving average is $17.22 and its two-hundred day moving average is $19.59. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 12.38 and a beta of 1.29. 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 one year low of $8.56 and a one year 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 the consensus estimate of $0.37 by ($0.01). The company had revenue of $856.19 million for the quarter, compared to analysts’ expectations 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 was up 137.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. Research analysts expect that Coeur Mining, Inc. will post 1.38 EPS for the current year.

Coeur Mining Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CDE shares. BMO Capital Markets began coverage on shares of Coeur Mining in a research report on Wednesday, March 25th. They set an “outperform” rating and a $27.00 target price on the stock. Cantor Fitzgerald lowered 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. Weiss Ratings restated a “hold (c+)” rating on shares of Coeur Mining in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Roth Capital restated a “buy” rating and issued a $25.00 target price on shares of Coeur Mining in a report on Friday, May 8th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.39.

Insider Activity

In other Coeur Mining news, CAO Kenneth J. Watkinson sold 39,000 shares of the 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 transaction, the chief accounting officer directly owned 77,204 shares of the company’s stock, valued at $1,435,994.40. This trade represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by company 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.