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

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

Coeur Mining Trading Up 3.5 %

Coeur Mining stock opened at $5.92 on Thursday. The stock has a 50-day simple moving average of $6.38 and a 200 day simple moving average of $6.29. The stock has a market capitalization of $2.36 billion, a P/E ratio of -197.27 and a beta of 1.60. 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 52 week low of $2.42 and a 52 week high of $7.72.

Coeur Mining (NYSE:CDE) last issued 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. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. The company had revenue of $313.50 million during the quarter, compared to the consensus estimate of $289.19 million. During the same period in the previous year, the company posted ($0.05) EPS. The firm’s revenue for the quarter was up 61.1% compared to the same quarter last year. Analysts expect that Coeur Mining will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Coeur Mining

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in Coeur Mining by 1.1% in the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after purchasing an additional 365,115 shares during the period. Geode Capital Management LLC boosted its position in shares of Coeur Mining by 1.0% in the third quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock valued at $62,937,000 after acquiring an additional 89,863 shares during the period. American Century Companies Inc. grew its stake in shares of Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock valued at $36,325,000 after acquiring an additional 4,606,711 shares in the last quarter. Millennium Management LLC increased its position in Coeur Mining by 2.6% during the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock worth $15,926,000 after acquiring an additional 72,423 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in Coeur Mining by 4.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,453,721 shares of the basic materials company’s stock worth $13,790,000 after purchasing an additional 93,500 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDE. Canaccord Genuity Group upped their price objective on Coeur Mining from $7.00 to $7.75 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets raised their price target on shares of Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Cantor Fitzgerald raised shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Roth Mkm reiterated a “buy” rating and issued a $8.50 price target (down from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. Finally, StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.81.

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.