Coeur Mining, Inc. (NYSE:CDE) reported that its Vice President, Corporate Controller & Chief Accounting Officer, Kenneth J. Watkinson, sold 44,000 shares of company stock on May 3, 2024. The transaction totaled over $213,620, with shares sold at prices ranging from $4.845 to $4.890, reflecting a weighted average sale price of $4.855.
The sale was conducted in multiple trades and represents a significant transaction by a key executive of the precious metals mining company. Following the sale, Watkinson's remaining holdings in Coeur Mining include 140,719 shares, which accounts for both direct ownership and 97,950 unvested shares of restricted stock.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. The sale by Watkinson comes amidst the fluctuating market conditions that typically impact stocks within the gold and silver mining sector.
The details of the transaction, including the range of sale prices, were disclosed in accordance with regulatory requirements. Coeur Mining, headquartered in Chicago, Illinois, is known for its operations in the exploration, development, and production of precious metals. The company's stock is publicly traded, and such disclosures are a routine part of compliance with securities regulations.
Investors and analysts following Coeur Mining will likely consider this recent insider transaction as they evaluate their positions and expectations for the company's performance.
InvestingPro Insights
Amidst the news of insider transactions at Coeur Mining, Inc. (NYSE:CDE), current market data and analysis from InvestingPro provide a broader context for investors. With a market capitalization of approximately $2.05 billion, the company has shown a strong return over the last three months, with a 75.54% price total return. This performance is particularly notable given the stock's volatility, as highlighted by an InvestingPro Tip that points to the stock's price movements being quite volatile.
While the company has not been profitable over the last twelve months, analysts predict that Coeur Mining will turn a profit this year, which could be a driving factor behind the recent price uptick. In fact, the stock is trading near its 52-week high, with prices at 94.49% of this peak. Additionally, the company has experienced a revenue growth of 7.96% over the last twelve months as of Q1 2024, indicating a positive trajectory in its financial performance.
For investors seeking more detailed analysis, there are additional InvestingPro Tips available, including insights into the company's EBITDA valuation multiple and dividend policies. To access these insights and more, investors can visit https://www.investing.com/pro/CDE. Moreover, by using the coupon code PRONEWS24, new subscribers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable investment information.
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