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

Coeur Mining, Inc. (NYSE:CDE) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 21,880,000 shares, a drop of 57.3% from the February 13th total of 51,250,000 shares. Currently, 5.6% of the shares of the stock are sold short. Based on an average daily volume of 15,890,000 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analyst Weigh In

Several brokerages have commented on CDE. Roth Mkm decreased their target price on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a report on Friday, February 21st. TD Securities began coverage on shares of Coeur Mining in a report on Tuesday. They issued a “buy” rating and a $7.00 target price for the company. BMO Capital Markets began coverage on shares of Coeur Mining in a report on Tuesday, February 18th. They issued an “outperform” rating and a $9.00 target price for the company. Cormark raised shares of Coeur Mining to a “moderate buy” rating in a research report on Thursday, February 20th. Finally, TD Cowen raised shares of Coeur Mining to a “strong-buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Coeur Mining has an average rating of “Buy” and an average target price of $8.05.

Coeur Mining Price Performance

Shares of CDE opened at $6.05 on Friday. The firm has a market cap of $3.86 billion, a PE ratio of 50.38 and a beta of 1.51. The firm’s 50 day moving average price is $6.16 and its 200 day moving average price is $6.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.39 and a current ratio of 0.83. Coeur Mining has a twelve month low of $2.98 and a twelve month high of $7.72.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.32 million. Coeur Mining had a net margin of 5.59% and a return on equity of 6.59%. As a group, research analysts expect that Coeur Mining will post 0.58 EPS for the current fiscal year.

Insider Activity

In other news, CFO Thomas S. Whelan bought 10,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $5.25 per share, for a total transaction of $52,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 668,450 shares in the company, valued at $3,509,362.50. This represents a 1.52 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.56% of the company’s stock.

Hedge Funds Weigh In On Coeur Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDE. Two Sigma Advisers LP grew its holdings in Coeur Mining by 404.6% during the fourth quarter. Two Sigma Advisers LP now owns 5,089,100 shares of the basic materials company’s stock valued at $29,110,000 after purchasing an additional 4,080,600 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Coeur Mining in the fourth quarter worth $21,224,000. Vanguard Group Inc. grew its stake in shares of Coeur Mining by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock worth $232,805,000 after acquiring an additional 3,178,785 shares during the last quarter. Marshall Wace LLP boosted its stake in Coeur Mining by 12,934.3% during the fourth quarter. Marshall Wace LLP now owns 2,971,679 shares of the basic materials company’s stock worth $16,998,000 after buying an additional 2,948,880 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Coeur Mining by 57.8% during the fourth quarter. Two Sigma Investments LP now owns 7,210,595 shares of the basic materials company’s stock worth $41,245,000 after buying an additional 2,641,310 shares in the last quarter. Institutional investors 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.