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

Coeur Mining, Inc. (NYSE:CDE) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 23,200,000 shares, an increase 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 days-to-cover ratio is currently 2.8 days.

Insider Activity at Coeur Mining

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CDE. Hsbc Holdings PLC boosted its position in Coeur Mining by 167.7% during the third quarter. Hsbc Holdings PLC now owns 142,772 shares of the basic materials company’s stock valued at $314,000 after purchasing an additional 89,435 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Coeur Mining in the third quarter valued at approximately $167,000. PEAK6 Investments LLC lifted its position in shares of Coeur Mining by 109.6% in the third quarter. PEAK6 Investments LLC now owns 43,708 shares of the basic materials company’s stock valued at $97,000 after buying an additional 22,854 shares during the last quarter. Scotia Capital Inc. lifted its position in shares of Coeur Mining by 9.0% in the third quarter. Scotia Capital Inc. now owns 120,791 shares of the basic materials company’s stock valued at $268,000 after buying an additional 10,000 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Coeur Mining by 818.1% in the third quarter. GSA Capital Partners LLP now owns 433,357 shares of the basic materials company’s stock valued at $962,000 after buying an additional 386,153 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Coeur Mining Stock Up 4.2 %

Shares of NYSE CDE opened at $5.63 on Wednesday. The stock has a 50 day moving average price of $5.40 and a 200 day moving average price of $4.01. Coeur Mining has a 52 week low of $2.00 and a 52 week high of $6.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.99 and a quick ratio of 0.43.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported ($0.05) EPS for the quarter, beating 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 firm had revenue of $213.10 million during the quarter, compared to analysts’ expectations of $203.43 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts forecast that Coeur Mining will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.