Coeur Mining, Inc. (NYSE:CDE) Short Interest Up 22.4% in October

Coeur Mining, Inc. (NYSE:CDE) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 29,000,000 shares, a growth of 22.4% from the October 15th total of 23,700,000 shares. Based on an average trading volume of 9,420,000 shares, the days-to-cover ratio is presently 3.1 days.

Coeur Mining Stock Performance

Shares of NYSE:CDE traded down $0.09 during midday trading on Friday, hitting $6.14. The company’s stock had a trading volume of 12,511,997 shares, compared to its average volume of 11,339,526. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -204.60 and a beta of 1.65. The stock’s 50 day simple moving average is $6.63 and its 200 day simple moving average is $6.08. Coeur Mining has a fifty-two week low of $2.39 and a fifty-two week high of $7.72. 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 (NYSE:CDE) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $289.19 million. During the same period last year, the business posted ($0.05) earnings per share. The firm’s revenue was up 61.1% compared to the same quarter last year. As a group, research analysts anticipate that Coeur Mining will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on CDE shares. BMO Capital Markets increased their target price on shares of Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Roth Mkm reissued a “buy” rating and set a $8.50 target price (down from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. Cantor Fitzgerald raised shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Raymond James increased their target price on shares of Coeur Mining from $6.25 to $7.00 and gave the stock a “market perform” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.81.

Institutional Investors Weigh In On Coeur Mining

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in shares of Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 4,490 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Coeur Mining in the 2nd quarter worth approximately $49,000. Hohimer Wealth Management LLC bought a new position in Coeur Mining in the 2nd quarter worth approximately $57,000. WINTON GROUP Ltd bought a new position in Coeur Mining in the 2nd quarter worth approximately $57,000. Finally, CIBC Asset Management Inc bought a new position in Coeur Mining in the 2nd quarter worth approximately $59,000. 63.01% of the stock is owned by institutional investors and hedge funds.

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.