California State Teachers Retirement System Increases Stock Position in Coeur Mining, Inc. $CDE

California State Teachers Retirement System increased its holdings in Coeur Mining, Inc. (NYSE:CDE) by 96.8% during the first quarter, HoldingsChannel.com reports. The fund owned 1,199,329 shares of the basic materials company’s stock after buying an additional 590,001 shares during the period. California State Teachers Retirement System’s holdings in Coeur Mining were worth $22,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its stake in Coeur Mining by 92.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 27,981,273 shares of the basic materials company’s stock worth $524,669,000 after purchasing an additional 13,418,041 shares during the period. Tidal Investments LLC increased its stake in Coeur Mining by 55.3% in 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 during the period. Norges Bank acquired a new position in Coeur Mining in the fourth quarter valued at $128,389,000. Renaissance Technologies LLC raised its holdings in shares of Coeur Mining by 889.6% in the first quarter. Renaissance Technologies LLC now owns 6,870,813 shares of the basic materials company’s stock valued at $128,965,000 after buying an additional 6,176,524 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of 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 buying an additional 6,012,718 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

CDE has been the topic of a number of research reports. Zacks Research lowered Coeur Mining from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Canaccord Genuity Group raised Coeur Mining from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, April 29th. Scotiabank reaffirmed an “outperform” rating and set a $28.50 price objective on shares of Coeur Mining in a research note on Tuesday, July 14th. 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 report on Thursday, May 7th. Finally, Roth Capital reiterated a “buy” rating and issued a $25.00 target price on shares of Coeur Mining in a research note on Friday, May 8th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.39.

Coeur Mining Trading Down 3.1%

Shares of Coeur Mining stock opened at $14.91 on Friday. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 12.86 and a beta of 1.29. Coeur Mining, Inc. has a 52-week low of $8.56 and a 52-week high of $27.77. The company’s 50-day simple moving average is $16.55 and its 200-day simple moving average is $19.34. 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 (NYSE:CDE) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Coeur Mining had a net margin of 31.15% and a return on equity of 15.38%. The firm had revenue of $856.19 million during the quarter, compared to analyst estimates of $815.59 million. During the same quarter in the previous year, the business earned $0.11 EPS. Coeur Mining’s revenue for the quarter was up 137.8% on a year-over-year basis. As a group, equities research analysts anticipate that Coeur Mining, Inc. will post 1.25 earnings per share for the current year.

Coeur Mining Announces Dividend

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

Insider Activity at Coeur Mining

In other 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 value of $725,400.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by corporate 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.