Coeur Mining, Inc. (NYSE:CDE) Short Interest Update

Coeur Mining, Inc. (NYSE:CDE) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 23,200,000 shares, a growth of 15.9% from the May 31st total of 20,010,000 shares. Based on an average daily trading volume, of 8,310,000 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. BMO Capital Markets raised shares of Coeur Mining from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $4.25 to $5.50 in a research note on Friday, May 3rd. Roth Mkm initiated coverage on shares of Coeur Mining in a research note on Tuesday, April 9th. They issued a “buy” rating and a $5.40 price target on the stock. Raymond James upped their price objective on shares of Coeur Mining from $3.75 to $4.00 and gave the company a “market perform” rating in a research note on Monday, April 8th. Roth Capital restated a “buy” rating on shares of Coeur Mining in a report on Tuesday, April 9th. Finally, National Bank Financial reissued an “outperform spec market weight” rating on shares of Coeur Mining in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.40.

Coeur Mining Stock Performance

CDE stock opened at $5.62 on Monday. Coeur Mining has a one year low of $2.00 and a one year high of $6.05. The firm’s 50 day moving average price is $5.36 and its 200-day moving average price is $3.98. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.55.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, May 1st. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. Coeur Mining had a negative return on equity of 6.28% and a negative net margin of 12.77%. The company had revenue of $213.10 million during the quarter, compared to analysts’ expectations of $203.43 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts forecast that Coeur Mining will post 0.08 EPS for the current year.

Insider Activity

In related news, CAO Kenneth J. Watkinson sold 44,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $4.86, for a total value of $213,840.00. Following the completion of the sale, the chief accounting officer now owns 140,719 shares of the company’s stock, valued at approximately $683,894.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Kenneth J. Watkinson sold 44,000 shares of Coeur Mining stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $4.86, for a total value of $213,840.00. Following the sale, the chief accounting officer now directly owns 140,719 shares in the company, valued at approximately $683,894.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sebastian Edwards sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $5.08, for a total value of $101,600.00. Following the sale, the director now owns 103,100 shares of the company’s stock, valued at $523,748. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CDE. Van ECK Associates Corp lifted its holdings in shares of Coeur Mining by 6.5% in the 1st quarter. Van ECK Associates Corp now owns 38,624,849 shares of the basic materials company’s stock worth $145,616,000 after acquiring an additional 2,345,791 shares during the last quarter. Vanguard Group Inc. raised its position in Coeur Mining by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock valued at $116,885,000 after purchasing an additional 3,989,352 shares during the period. Dimensional Fund Advisors LP raised its position in Coeur Mining by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,087,106 shares of the basic materials company’s stock valued at $52,445,000 after purchasing an additional 84,920 shares during the period. Tidal Investments LLC acquired a new position in Coeur Mining during the first quarter worth $41,587,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Coeur Mining by 22.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,457,720 shares of the basic materials company’s stock worth $30,832,000 after buying an additional 1,702,840 shares during the period. 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.