Short Interest in Coeur Mining, Inc. (NYSE:CDE) Grows By 6.9%

Coeur Mining, Inc. (NYSE:CDE) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 18,790,000 shares, a growth of 6.9% from the June 30th total of 17,570,000 shares. Based on an average trading volume of 6,850,000 shares, the days-to-cover ratio is presently 2.7 days.

Analysts Set New Price Targets

CDE has been the topic of a number of recent research reports. Roth Mkm began coverage on shares of Coeur Mining in a report on Tuesday, April 9th. They issued a “buy” rating and a $5.40 target price on the stock. Roth Capital restated a “buy” rating on shares of Coeur Mining in a research report on Tuesday, April 9th. BMO Capital Markets boosted their price objective on Coeur Mining from $6.75 to $7.50 and gave the company an “outperform” rating in a research report on Friday, July 12th. Raymond James boosted their price objective on Coeur Mining from $5.00 to $5.75 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Finally, National Bank Financial restated an “outperform spec market weight” rating on shares of Coeur Mining in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.66.

Coeur Mining Stock Performance

Coeur Mining stock traded down $0.57 during mid-day trading on Thursday, hitting $5.92. 6,523,007 shares of the company’s stock traded hands, compared to its average volume of 7,172,436. The firm has a 50 day moving average price of $5.92 and a 200 day moving average price of $4.48. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.55. The company has a market cap of $2.36 billion, a PE ratio of -19.55 and a beta of 1.60. Coeur Mining has a one year low of $2.00 and a one year high of $6.82.

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

Insider Buying and Selling at Coeur Mining

In other news, 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 sale, the director now owns 103,100 shares in the company, valued at approximately $523,748. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coeur Mining news, CAO Kenneth J. Watkinson sold 44,000 shares of Coeur Mining 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 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 filing with the SEC, which is accessible through the SEC website. Also, Director Sebastian Edwards sold 20,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $5.08, for a total transaction of $101,600.00. Following the sale, the director now directly owns 103,100 shares in the company, valued at $523,748. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by insiders.

Institutional Trading of Coeur Mining

Several hedge funds have recently added to or reduced their stakes in CDE. Van ECK Associates Corp raised its stake 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 buying an additional 2,345,791 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Coeur Mining by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 35,854,316 shares of the basic materials company’s stock worth $116,885,000 after purchasing an additional 3,989,352 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Coeur Mining by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,087,106 shares of the basic materials company’s stock worth $52,445,000 after purchasing an additional 84,920 shares during the period. Tidal Investments LLC acquired a new stake in shares of Coeur Mining during the first quarter worth $41,587,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings 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 valued at $30,832,000 after buying an additional 1,702,840 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

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.