Coeur Mining, Inc. (NYSE:CDE) Sees Large Drop in Short Interest

Coeur Mining, Inc. (NYSE:CDE) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 33,840,000 shares, a decline of 9.8% from the November 15th total of 37,530,000 shares. Based on an average daily volume of 10,110,000 shares, the days-to-cover ratio is currently 3.3 days.

Analyst Ratings Changes

Several equities research analysts have issued reports on CDE shares. BMO Capital Markets lifted their price target on 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 upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Roth Mkm reaffirmed 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, Canaccord Genuity Group increased their price objective on Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Stock Up 0.2 %

CDE traded up $0.01 during midday trading on Tuesday, reaching $6.32. The company’s stock had a trading volume of 6,495,841 shares, compared to its average volume of 8,032,272. Coeur Mining has a 1 year low of $2.42 and a 1 year high of $7.72. The stock’s 50-day moving average is $6.58 and its 200-day moving average is $6.28. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -210.67 and a beta of 1.60. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53.

Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $289.19 million. During the same quarter last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 61.1% on a year-over-year basis. As a group, research analysts expect that Coeur Mining will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Coeur Mining

A number of hedge funds have recently bought and sold shares of the company. CWM LLC increased its stake in Coeur Mining by 831.5% during the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 4,490 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased 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 valued at approximately $57,000. WINTON GROUP Ltd purchased a new stake in Coeur Mining during the 2nd quarter valued at $57,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Coeur Mining in the 2nd quarter worth $59,000. 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.