National Bank of Canada FI sold its interest in Coeur Mining, Inc. increased by 25.1% in the first quarter, according to the latest filing with the Securities and Exchange Commission (SEC). The institutional investor now owns 622,650 shares of Coeur Mining’s stock after acquiring an additional 124,966 shares during the period. This represents a significant investment for National Bank of Canada FI, accounting for 0.19% of Coeur Mining’s total value at the end of the reporting period.
The recent announcement of Coeur Mining’s quarterly results has caught the attention of investors and analysts alike. On May 10, the company reported EPS (earnings per share) of ($0.11) for the quarter, missing the consensus estimate by ($0.02). In addition, Coeur Mining had revenues of $187.30 million during this period, surpassing analyst estimates of $175.13 million.
Coeur Mining is primarily engaged in the search for precious metals in North America. Exploration activities span the United States, Canada and Mexico, with an emphasis on gold, silver, zinc and lead. The company has 100% interests in several mines, including the Palmarejo gold and silver mine in Mexico’s Chihuahua state; Rochester silver and gold mine in northwestern Nevada; Kensington Gold Mine in Alaska; Wharf Gold Mine in South Dakota’s Black Hills; and Silvertip silver-zinc-lead mine in northern British Columbia.
This increase in National Bank of Canada FI’s stake reflects growing confidence in Coeur Mining’s prospects within the mining industry. With a diversified portfolio of precious metals in three countries, Coeur Mining is well positioned to benefit from fluctuations in commodity prices and market trends.
Despite the lack of earnings guidance for the previous quarter, analysts on the sell side are predicting Coeur Mining to post -0.14 earnings per share this year. This forecast suggests a possible improvement in the company’s financial performance and underscores the positive sentiment surrounding the long-term outlook.
As Coeur Mining continues to develop and expand its mining operations, investors will closely monitor progress. The increased importance of National Bank of Canada FI shows their commitment to be part of this growth trajectory. With a solid foundation and an ambitious vision, Coeur Mining will play an important role in shaping the future of the precious metals industry.
Coeur Mining, Inc.
Updated on: 01/07/2023
1:00 AM IN THE MORNING (UTC)
Date:July 01, 2023
Reviews from analysts
|Analyst / firm||Judgement|
|BMO Capital||To buy|
Coeur Mining’s Institutional Appeal: Promising outlook and market performance attract investors
Coeur Mining’s market performance and promising prospects attract institutional investors
Coeur Mining, Inc., an exploration company specializing in precious metals, has attracted the interest of many institutional investors due to its recent success and potential for future growth. Notable entities such as Verition Fund Management LLC, Point72 Middle East FZE, CI Private Wealth LLC, Townsquare Capital LLC, and Destiny Wealth Partners LLC have all made significant investments in Coeur Mining. This wave of institutional investment suggests that Coeur Mining’s prospects are bright and deserve the attention of individual investors.
Interest from institutional investors:
Verition Fund Management LLC joined Coeur Mining shareholders in the third quarter by acquiring a position worth approximately $36,000. Similarly, Point72 Middle East FZE made a purchase worth approximately $36,000 in the fourth quarter. CI Private Wealth LLC and Townsquare Capital LLC followed with investments worth approximately $39,000 and $45,000 respectively.
An astonishing 4,672.8% increase in their position was observed for Destiny Wealth Partners LLC over the same period. Currently with 14,414 shares worth $48,000 – an addition of 14,112 shares since their initial purchase – it is clear that Destiny Wealth Partners has shown tremendous confidence in Coeur Mining.
Importance of Institutional Investments:
The fact that more than 62% of Coeur Mining’s shares are held by institutional investors speaks volumes about its market credentials. These companies employ seasoned analysts who conduct extensive research to determine the viability of investments. Their endorsement strengthens investor confidence and demonstrates belief in the company’s growth potential.
On Friday [Insert Date], Coeur Mining opened at $2.87 with a market cap of a whopping $954.16 million. The company has a below-average price-to-earnings ratio (PE) of -7.16, indicating undervaluation relative to earnings. With a beta of 1.57, Coeur Mining is positioned to provide investors with above-average returns given market volatility.
Coeur Mining’s current ratio of 1.27 and quick ratio of 0.59 reflect Coeur Mining’s healthy liquidity position, indicating the company’s ability to meet short-term obligations quickly. This is further reinforced by the reasonable debt-to-equity ratio of 0.49.
In addition, the share price has shown considerable resilience in the face of market fluctuations. Coeur Mining’s share value had a year-over-year low of $2.54 and peaked at $4.55, highlighting the trend towards growth and stability.
Coeur Mining operates in several regions of North America, including the United States, Canada and Mexico. The company mainly focuses on exploring properties rich in gold, silver, zinc and lead.
Well-known examples include the gold and silver mine of Palmarejo with an area of approximately 67,279 hectares in northern Mexico; the Rochester silver and gold mine which covers approximately 43,441 net acres in Nevada; the 3,972 net acre Kensington Gold Mine near Juneau, Alaska; the approximately 3,243 net acre Wharf Gold Mine in western South Dakota; and finally the Silvertip silver-zinc-lead mine which spans approximately 97,298 net acres in northern British Columbia.
Several research analysts have closely monitored Coeur Mining’s performance to guide investment decisions. National Bank Financial recently started reporting on Coeur Mining with an “outperform” rating along with a price target of $4.25 per share.
Meanwhile, StockNews.com issued a “sell” rating on Coeur Mining stock, while Raymond James lowered their price target from $4.25 to $4.00, classifying the stock as “market performance.” These divergent opinions among analysts demonstrate a healthy debate about Coeur Mining’s future trajectory.
As institutional investors enthusiastically embrace Coeur Mining, the company’s market potential continues to grow. Not only has Coeur Mining secured significant investment from institutions, but it has also shown strong financial results, positive analyst fears and an extensive exploration footprint. This collective evidence suggests that Coeur Mining is poised for growth and represents an attractive opportunity for individual investors looking to capitalize on the precious metals sector.