| Renaissance Technologies Increases Its Stake in Coeur Mining | |
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Renaissance Technologies' Exposure to Coeur Mining Renaissance Technologies increases its stake in Coeur Mining
In 1Q15, around 23 hedge funds created a new position in Coeur Mining (CDE). Over 52 hedge funds added to their position in Coeur Mining—including Renaissance Technologies. The performance of silver mining stocks is impacted by the fluctuation in silver and gold prices. Stocks that are generally impacted by this fluctuation in prices are Newmont Mining (NEM), Hecla Mining (HL), and Pan American Silver (PAAS). These stocks account for 9.92% of the Market Vectors Gold Miners ETF (GDX).
Coeur Mining’s AISC (all-in sustaining cost) is benefiting from favorable foreign exchange movements. The Mexican peso depreciation and the fall in crude oil prices led to an improvement in its cost structure. Gold and silver prices are inversely related to the interest rate hike. If the Fed increases its rate in the next quarter, it will create a headwind for Coeur Mining because gold and silver prices will fall.
Hedge funds holding
It’s noted from aggregated 13F data, among the funds that added Coeur Mining to their portfolio in 1Q15 in terms of dollar value invested, Renaissance Technologies was ranked 11th. Van Eck Associates, Donald Smith & Company, Vanguard Group, and State Street occupied the first four slots, respectively.
In this series, we’ll take a look at Coeur Mining’s performance over the last quarter in order to better understand its current and longer-term drivers. We’ll also examine how the payoff has been on this position YTD (year-to-date). We’ll benchmark the stock’s performance against other modes of gaining exposure in the gold and silver mining sector.
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Coeur d'Alene Mines Corporation
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PRODUCTEUR |
CODE : CDE |
ISIN : US1921085049 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Coeur d'Alène est une société de production minière d'argent et d'or basée aux Etats-Unis D'Amerique. Coeur d'Alène est productrice d'argent, d'or, de cuivre, de plomb et de zinc en USA, au Mexique, en Australie, en Argentine et en Bolivie, en développement de projets d'argent et d'or en Argentine et en Bolivie, et détient divers projets d'exploration au Mexique. Ses principaux projets en production sont ROCHESTER MINE - NEVADA PACKARD en USA, ENDEAVOR et BROKEN HILL en Australie, PALMAREJO au Mexique, MARTHA MINE en Argentine et SAN BARTOLOME en Bolivie, ses principaux projets en développement sont ROCHESTER et KENSINGTON en Bolivie et JOAQUIN en Argentine et ses principaux projets en exploration sont KENSINGTON/JUALIN en Argentine, LAKE VICTORIA GOLD BELT en Tanzanie et EL REALITO, GUADALUPE et LA PATRIA au Mexique. Coeur d'Alène est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 893,8 millions US$ (835,1 millions €). La valeur de son action a atteint son plus haut niveau récent le 21 novembre 1997 à 99,38 US$, et son plus bas niveau récent le 22 janvier 2016 à 1,62 US$. Coeur d'Alène possède 185 442 526 actions en circulation. |