Q4 ETF Managers Group LLC sells 3.8% of Coeur Mining, Inc 2023

ETF Managers Group LLC decreased its holdings in shares of Coeur Mining, Inc. (NYSE:CDE) by 3.8% during the fourth quarter. According to SEC filings, the institutional investor sold 127,836 Coeur Mining shares, bringing its total number of shares to 3,209,595 and reducing its stake in the mining company to 1.09%.

The four business segments of Coeur Mining are Palmarejo, Rochester, Kensington, and Wharf. Its silver-gold mining properties and deposits are located in the United States, Canada, and Mexico. The Palmarejo segment comprises a gold-silver complex, whereas the Rochester segment operates an open pit heap leach silver-gold mine in northwest Nevada.

As a result of the news that ETF Managers Group has reduced their holdings of Coeur Mining shares, the price of each share fell by $0.10 during midday trading on Friday, to $4.12 per share. This value is close to its 52-week high of $5.39 and its 52-week low of $2.54.

Despite the COVID-19 epidemic, Coeur Mining has a current ratio of 1.37 and a fast ratio of 0.71.

Investors should continue to monitor any changes/investments made by ETF Manager Group LLC or other investors that may have a direct or indirect impact on Coeur Mining’s performance in the future, despite the fact that signs point to encouraging prospects, particularly given the company’s relatively strong financial position amidst ongoing global economic turbulence caused by the pandemic crisis afflicting industries worldwide, including those within essential commodities. Companies like Coeur Miniing Inc..

Despite mixed ratings, institutional investors demonstrate renewed interest in Coeur Mining.

Large investors have recently increased their activity in Coeur Mining, indicating renewed interest in the basic materials company. Moneta Group Investment Advisors LLC’s stake increased by an astounding 99,607.1% during the fourth quarter, and it now holds over 170 million shares worth $574 million. Other significant investors, such as State Street Corp, Jupiter Asset Management Ltd., and Vanguard Group Inc., have also increased their stakes in the company. This news follows Coeur Mining’s earnings report, which was published on February 22 and showed a 1.1% increase in revenue year-over-year and EPS that exceeded analyst expectations by $0.01.

Not all research firms are bullish on the stock despite these positive developments. Concerns such as decreased price targets and negative net margins have prompted some to downgrade or maintain a hold rating for CDE. However, company insiders appear confident, with Director Randy Gress purchasing 20,000 shares of stock at the end of February.

Significant holdings in silver and gold mining properties are held by Coeur Mining’s Palmarejo and Rochester segments, which operate an open pit heap leach mine in Nevada. With increased interest from institutional investors and recent positive earnings reports, it will be intriguing to see how Coeur Mining develops in the future.

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