Gold prices steady ahead of Fed decision; weekly weakness noted
Das Paramita, a director at Coeur Mining, Inc. (NYSE:CDE), recently acquired shares in the company, according to a filing with the Securities and Exchange Commission. On February 21, Paramita purchased 685 shares of Coeur Mining’s common stock at a price of $5.53 per share, totaling approximately $3,788. The stock, which has delivered a remarkable 96% return over the past year, currently trades at $5.09. According to InvestingPro analysis, Coeur Mining appears undervalued based on its Fair Value estimate.
Additionally, on February 24, Paramita received 17,160 shares as part of the company’s 2018 Long-Term Incentive Plan, which were issued as a portion of Paramita’s retainer fee. These shares were acquired at no cost, bringing Paramita’s total holdings to 75,685 shares following these transactions. With analysts maintaining a bullish stance and InvestingPro reporting a "Fair" overall financial health score, investors can access detailed analysis and 10+ additional ProTips through the comprehensive Pro Research Report.
In other recent news, Coeur Mining has disclosed a technical report summary for the Las Chispas Mine, filed as part of an 8-K with the U.S. Securities and Exchange Commission. This report provides investors with insights into the mine’s prospects. Additionally, BMO Capital Markets has resumed coverage on Coeur Mining, issuing an Outperform rating and setting a price target of $9.00, highlighting the strategic benefits of Coeur’s acquisition of SilverCrest Metals (NYSE:SILV). The acquisition is expected to significantly enhance Coeur’s production capabilities and financial position, with a projected increase in free cash flow by $74 million in 2025.
Furthermore, Coeur Mining announced an expansion of its board of directors, increasing from eight to ten members, with the appointment of N. Eric Fier and Pierre Beaudoin. This change is contingent upon the closing of the Arrangement with SilverCrest Metals. The company also received Mexican antitrust approval for the acquisition, clearing a major regulatory hurdle. However, legal actions have been initiated against Coeur Mining, alleging omissions in the proxy statement for an upcoming stockholder meeting. Coeur has countered these claims but has provided supplemental disclosures to address the issues raised. These developments indicate significant strategic moves by Coeur Mining, with potential implications for its operational and financial trajectory.
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