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

Coeur Mining, Inc. (NYSE:CDE) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 36,000,000 shares, a growth of 6.4% from the November 30th total of 33,840,000 shares. Based on an average daily volume of 9,920,000 shares, the short-interest ratio is presently 3.6 days.

Coeur Mining Stock Performance

Shares of CDE stock opened at $5.72 on Thursday. The stock’s fifty day simple moving average is $6.38 and its 200-day simple moving average is $6.29. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -190.60 and a beta of 1.60. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53. Coeur Mining has a 1-year low of $2.42 and a 1-year high of $7.72.

Coeur Mining (NYSE:CDE) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.05. The firm had revenue of $313.50 million for 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 revenue for the quarter was up 61.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. On average, sell-side analysts predict that Coeur Mining will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Coeur Mining

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in Coeur Mining by 248.1% in the 2nd quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock worth $36,325,000 after purchasing an additional 4,606,711 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Coeur Mining in the 2nd quarter valued at $4,822,000. JPMorgan Chase & Co. raised its holdings in Coeur Mining by 88.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,418,716 shares of the basic materials company’s stock worth $9,761,000 after acquiring an additional 665,452 shares during the period. Cubist Systematic Strategies LLC bought a new position in Coeur Mining in the 2nd quarter worth $2,382,000. Finally, Van ECK Associates Corp lifted its position in Coeur Mining by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after acquiring an additional 365,115 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.