TSP Capital Dumps 220K Coeur Mining (CDE) Shares Worth $2.7 Million
Key Points
TSP Capital sold 220,000 shares of Coeur Mining; estimated transaction value of approximately $2.69 million based on the average price for the quarter
Represents a 0.72% reduction of TSP Capital's reportable assets under management (AUM)
Post-trade holding: 436,125 shares, valued at $8.18 million
The position now makes up 2.19% of the fund’s AUM, placing it outside the fund's top five holdings
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What happened
According to a filing with the U.S. Securities and Exchange Commission dated October 22, 2025, TSP Capital Management Group, LLC sold 220,000 shares of Coeur Mining (NYSE:CDE) during the quarter. The estimated value of the shares sold was $2.69 million. Following the trade, the fund reported holding 436,125 shares valued at $8.18 million as of September 30, 2025 (position value per SEC Form 13F filing).
What else to know
This reduction in the Coeur Mining stake now accounts for 2.19% of TSP Capital’s 13F reportable AUM.
Top holdings after the filing:
UNK: NGD: $28.55 million (7.6% of AUM) as of 2025-09-30
NYSE: BVN: $24.37 million (6.5% of AUM) as of 2025-09-30
NYSE: MLP: $20.50 million (5.5% of AUM) as of 2025-09-30
NYSE: SBSW: $20.45 million (5.5% of AUM) as of Q3 2025
NYSE: CIG: $19.26 million (5.2% of AUM) as of 2025-09-30
As of October 21, 2025, shares of Coeur Mining were priced at $18.48, up 156.3% in the year to October 21, 2025, outperforming the S&P 500 by 145.44 percentage points over the past year
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.46 billion |
| Net Income (TTM) | $190.67 million |
| Price (as of market close 2025-10-21) | $18.48 |
| One-Year Price Change | 156.31% |
Company Snapshot
Coeur Mining produces and sells gold, silver, zinc, and lead concentrates from wholly owned mining operations in the United States, Canada, and Mexico.
Generates revenue primarily through the extraction and sale of precious and base metals, with sales to third-party customers and smelters under off-take agreements.
Serves a diverse customer base including industrial buyers, commodity traders, and smelters seeking precious and base metals for further processing and distribution.
Coeur Mining, Inc. operates across North America, focusing on gold and silver extraction. The company holds wholly owned mining assets and has achieved a five-year revenue CAGR of 8.18%.
Foolish take
It looks like TSP Capital was eager to take some profits off the table during the third quarter. Shares of the gold miner are up by about 157% over the past 12 months.
Although TSP Capital reduced the number of Coeur Mining shares it held, the stock's performance means it's responsible for a larger portion of the overall portfolio. At the end of September, the firm's Coeur Mining position was equal to 2.2% of the overall portfolio. At the end of June, it was responsible for just 1.8% of total holdings.
Gold prices that have soared over the past couple of years have been pushing sales through the roof at Coeur Mining. The company reported second-quarter revenue that more than doubled year over year to reach $323 million.
Coeur’s soaring topline sales are reaching the bottom line. The second quarter of 2025 was the fourth consecutive quarter that the company reported positive free cash flow.
Glossary
AUM (Assets Under Management): The total market value of investments managed by a fund or investment firm.
13F filing: A quarterly report filed by institutional investment managers disclosing their equity holdings to the SEC.
Wholly owned: Refers to assets or subsidiaries entirely owned by a parent company, with no outside ownership.
Off-take agreement: A contract where a buyer agrees to purchase a portion or all of a producer’s future output.
Reportable assets: Investments that must be disclosed in regulatory filings, such as those required by the SEC.
CAGR (Compound Annual Growth Rate): The annualized rate of return for an investment over a specified period, assuming profits are reinvested.
TTM: The 12-month period ending with the most recent quarterly report.
Base metals: Common industrial metals, such as zinc and lead, that are not considered precious metals.
Smelters: Facilities where mined ore is heated and processed to extract pure metals.
Third-party customers: Buyers who are not directly affiliated with the producer or seller.
Position: The amount of a particular security or asset held by an investor or fund.
Stake: The ownership interest or share held in a company or asset.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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