Coeur Mining, Inc. (NYSE:CDE) Sees Large Increase in Short Interest

Coeur Mining, Inc. (NYSE:CDE) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 29,000,000 shares, a growth of 22.4% from the October 15th total of 23,700,000 shares. Based on an average daily volume of 9,420,000 shares, the short-interest ratio is presently 3.1 days.

Coeur Mining Stock Performance

Coeur Mining stock traded down $0.09 on Friday, hitting $6.14. The company’s stock had a trading volume of 12,511,997 shares, compared to its average volume of 11,339,526. The company has a fifty day moving average price of $6.63 and a 200-day moving average price of $6.08. The firm has a market cap of $2.45 billion, a P/E ratio of -204.60 and a beta of 1.65. Coeur Mining has a one year low of $2.39 and a one year high of $7.72. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 0.53.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. The firm had revenue of $313.50 million during the quarter, compared to analyst estimates of $289.19 million. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The company’s quarterly revenue was up 61.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) earnings per share. On average, equities analysts anticipate that Coeur Mining will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Raymond James raised their target price on Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a report on Friday, September 20th. BMO Capital Markets raised their price objective on shares of Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Roth Mkm reiterated a “buy” rating and set a $8.50 target price (down from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Canaccord Genuity Group upped their price objective on shares of Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.81.

Institutional Trading of Coeur Mining

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Coeur Mining by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock valued at $62,937,000 after purchasing an additional 89,863 shares during the last quarter. Barclays PLC increased its holdings in shares of Coeur Mining by 59.2% during the third quarter. Barclays PLC now owns 962,652 shares of the basic materials company’s stock worth $6,624,000 after buying an additional 358,097 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Coeur Mining by 19.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 157,322 shares of the basic materials company’s stock valued at $1,082,000 after acquiring an additional 25,878 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Coeur Mining in the 3rd quarter worth approximately $1,311,000. Finally, Wellington Management Group LLP grew its position in Coeur Mining by 14.1% during the 3rd quarter. Wellington Management Group LLP now owns 932,074 shares of the basic materials company’s stock worth $6,413,000 after acquiring an additional 114,870 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.