Bank of Nova Scotia Takes Position in Coeur Mining, Inc. $CDE

Bank of Nova Scotia purchased a new stake in Coeur Mining, Inc. (NYSE:CDE) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 58,668 shares of the basic materials company’s stock, valued at approximately $1,101,000.

A number of other hedge funds have also recently added to or reduced their stakes in CDE. Triumph Capital Management raised its position in Coeur Mining by 300.0% during the fourth quarter. Triumph Capital Management now owns 1,600 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 1,200 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Coeur Mining by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 1,435 shares in the last quarter. Kingdom Financial Group LLC. bought a new stake in Coeur Mining in the fourth quarter worth approximately $32,000. Kemnay Advisory Services Inc. acquired a new position in shares of Coeur Mining during the 4th quarter worth $33,000. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of Coeur Mining during the 4th quarter worth $34,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insider Buying and Selling at Coeur Mining

In related news, CAO Kenneth J. Watkinson sold 39,000 shares of the 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 completion of the sale, the chief accounting officer owned 77,204 shares in the company, valued at $1,435,994.40. This represents a 33.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Coeur Mining Stock Performance

NYSE:CDE opened at $14.59 on Thursday. The firm has a market capitalization of $15.09 billion, a PE ratio of 12.58 and a beta of 1.29. Coeur Mining, Inc. has a 1 year low of $8.56 and a 1 year high of $27.77. 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 firm’s fifty day simple moving average is $16.66 and its 200 day simple moving average is $19.40.

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). Coeur Mining had a return on equity of 15.38% and a net margin of 31.15%.The firm had revenue of $856.19 million for the quarter, compared to analyst estimates of $815.59 million. During the same period in the prior year, the firm earned $0.11 EPS. The firm’s revenue was up 137.8% on a year-over-year basis. On average, sell-side analysts anticipate that Coeur Mining, Inc. will post 1.25 EPS for the current year.

Coeur Mining Announces Dividend

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

Analyst Upgrades and Downgrades

CDE has been the subject of several analyst reports. Cantor Fitzgerald lowered shares of 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. Wall Street Zen downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank reaffirmed an “outperform” rating and issued a $28.50 price target on shares of Coeur Mining in a research report on Tuesday, July 14th. Roth Capital reiterated a “buy” rating and set a $25.00 price target on shares of Coeur Mining in a research note on Friday, May 8th. Finally, Canaccord Genuity Group raised Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.39.

Coeur Mining 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.