Van Eck Associates Corp. recently announced the acquisition of new stake in Coeur Mining Inc (NYSE:CDE). The institutional investor has increased its shareholding in the Basic Materials company by 5.42% to 32.72 million shares with purchase of 1.68 million shares. This fresh investment now brings its stake to 8.55% valued currently at $106.67 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.7 million to 31.32 million shares. And BlackRock Fund Advisors has lifted its position by 4.15% or 0.98 million shares – to 24.69 million shares.
Currently, there are 382.61M common shares owned by the public and among those 377.24M shares have been available to trade.
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Insiders at the company have transacted a total of 81 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 42 of these insider trades were purchases, accounting for 1,639,869 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 442,773 shares.
The top 3 mutual fund holders in Coeur Mining Inc are VanEck Gold Miners ETF, SPDR S&P Metals & Mining ETF, and VanEck Junior Gold Miners ETF. VanEck Gold Miners ETF owns 20.15 million shares of the company’s stock, all valued at over $65.7 million. The company sold -0.19 million shares recently to bring their total holdings to about 5.27% of the shares outstanding. SPDR S&P Metals & Mining ETF bought 94352.0 shares to see its total holdings expand to 15.96 million shares valued at over $52.03 million and representing 4.17% of the shares outstanding. VanEck Junior Gold Miners ETF sold 10788.0 shares to bring its total holdings to over 12.46 million shares at a value of $40.63 million. VanEck Junior Gold Miners ETF now owns shares totaling to 3.26% of the shares outstanding.
The company’s stock has a 5-day price change of 5.73% and 19.43% over the past three months. CDE shares are trading -9.51% year to date (YTD), with the 12-month market performance down to -28.40% lower. It has a 12-month low price of $2.00 and touched a high of $4.55 over the same period. CDE has an average intraday trading volume of 6.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.50%, -0.26%, and 3.17% respectively.
Institutional ownership of Coeur Mining Inc (NYSE: CDE) shares accounts for 71.21% of the company’s 382.61M shares outstanding. Mutual fund holders own 18.63%, while other institutional holders and individual stakeholders account for 53.65% and 1.93% respectively.
It has a market capitalization of $1.13B and a beta (3y monthly) value of 1.77. The earnings-per-share (ttm) stands at -$0.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.02% over the week and 5.73% over the month.
Analysts forecast that Coeur Mining Inc (CDE) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0.1 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was -$0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 32.14%, and 149.34% over the next financial year.
Looking at the support for the CDE, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on November 03, 2023, with the firm’s price target at $2.75.
