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

Coeur Mining, Inc. (NYSE:CDE) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 36,000,000 shares, an increase of 6.4% from the November 30th total of 33,840,000 shares. Based on an average trading volume of 9,920,000 shares, the days-to-cover ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CDE shares. Roth Mkm reissued 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 increased their target price on shares of 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. Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Raymond James raised 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 analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.81.

Hedge Funds Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDE. Point72 Asia Singapore Pte. Ltd. acquired a new position in Coeur Mining during the 2nd quarter worth $49,000. CWM LLC raised its stake in shares of Coeur Mining by 93.2% during the third quarter. CWM LLC now owns 9,716 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 4,686 shares in the last quarter. Hohimer Wealth Management LLC acquired a new stake in Coeur Mining in the second quarter worth about $57,000. WINTON GROUP Ltd bought a new position in Coeur Mining in the 2nd quarter valued at about $57,000. Finally, CIBC Asset Management Inc acquired a new position in Coeur Mining during the 2nd quarter valued at about $59,000. 63.01% of the stock is owned by institutional investors.

Coeur Mining Stock Up 2.0 %

Coeur Mining stock opened at $5.72 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09. Coeur Mining has a one year low of $2.42 and a one year high of $7.72. The company has a 50-day simple moving average of $6.38 and a 200-day simple moving average of $6.29. The firm has a market capitalization of $2.28 billion, a P/E ratio of -190.60 and a beta of 1.60.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 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 analysts’ expectations of $289.19 million. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. Coeur Mining’s quarterly revenue was up 61.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, equities analysts expect that Coeur Mining will post 0.15 earnings per share for the current year.

About Coeur Mining

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.