Coeur Mining (NYSE:CDE) Releases Earnings Results, Misses Estimates By $0.14 EPS

Coeur Mining (NYSE:CDE) released its earnings results on Wednesday. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.14), FiscalAI reports. Coeur Mining had a net margin of 26.82% and a return on equity of 13.39%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company earned $0.20 earnings per share. Coeur Mining’s revenue for the quarter was up 125.8% compared to the same quarter last year.

Coeur Mining Stock Up 9.6%

Coeur Mining stock traded up $1.51 during mid-day trading on Friday, hitting $17.16. The company had a trading volume of 36,877,087 shares, compared to its average volume of 29,450,932. The company has a market capitalization of $17.75 billion, a PE ratio of 14.67 and a beta of 1.32. The company has a current ratio of 3.73, a quick ratio of 2.14 and a debt-to-equity ratio of 0.07. Coeur Mining has a 12 month low of $10.92 and a 12 month high of $27.77. The stock’s 50 day moving average price is $16.41 and its two-hundred day moving average price is $19.18.

Coeur Mining Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, May 22nd. This represents a dividend yield of 23.0%. Coeur Mining’s payout ratio is presently 3.42%.

Analysts Set New Price Targets

Several analysts recently commented on CDE shares. Roth Capital set a $19.00 target price on shares of Coeur Mining in a report on Friday. Wall Street Zen cut Coeur Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Cantor Fitzgerald cut shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research report on Thursday, May 7th. Scotiabank reiterated an “outperform” rating and set a $26.50 price target on shares of Coeur Mining in a report on Friday. Finally, Zacks Research cut Coeur Mining from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.50.

Insider Activity

In other news, CAO Kenneth J. Watkinson sold 39,000 shares of the business’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 sale, the chief accounting officer directly owned 77,204 shares in the company, valued at $1,435,994.40. The trade was a 33.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coeur Mining

Large investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in Coeur Mining by 6.7% in the 4th quarter. State Street Corp now owns 24,250,702 shares of the basic materials company’s stock worth $432,390,000 after buying an additional 1,529,394 shares during the last quarter. Tidal Investments LLC lifted its stake 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 acquiring an additional 7,382,955 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of 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 purchasing an additional 3,982,085 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Coeur Mining by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock worth $49,449,000 after purchasing an additional 1,278,110 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Coeur Mining by 38.6% in the fourth quarter. Invesco Ltd. now owns 4,831,743 shares of the basic materials company’s stock valued at $86,150,000 after acquiring an additional 1,346,322 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.