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

Coeur Mining, Inc. (NYSE:CDE) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 23,200,000 shares, a growth of 15.9% from the May 31st total of 20,010,000 shares. Based on an average daily volume of 8,310,000 shares, the short-interest ratio is currently 2.8 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CDE shares. BMO Capital Markets raised Coeur Mining from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $4.25 to $5.50 in a research note on Friday, May 3rd. Raymond James boosted their target price on shares of Coeur Mining from $3.75 to $4.00 and gave the stock a “market perform” rating in a report on Monday, April 8th. Roth Mkm started coverage on shares of Coeur Mining in a research note on Tuesday, April 9th. They set a “buy” rating and a $5.40 price target for the company. Roth Capital reissued a “buy” rating on shares of Coeur Mining in a research note on Tuesday, April 9th. Finally, National Bank Financial restated an “outperform spec market weight” rating on shares of Coeur Mining in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4.40.

Coeur Mining Price Performance

Shares of CDE opened at $5.62 on Monday. 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. The business’s 50 day moving average price is $5.36 and its two-hundred day moving average price is $3.98.

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

Insiders Place Their Bets

In other news, Director Sebastian Edwards sold 20,000 shares of Coeur Mining stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $5.08, for a total value of $101,600.00. Following the transaction, the director now owns 103,100 shares in the company, valued at approximately $523,748. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Sebastian Edwards sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 103,100 shares of the company’s stock, valued at approximately $523,748. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief accounting officer now directly owns 140,719 shares in the company, valued at approximately $683,894.34. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.

Institutional Trading of Coeur Mining

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Coeur Mining by 5.7% in the third quarter. Vanguard Group Inc. now owns 31,864,964 shares of the basic materials company’s stock worth $70,740,000 after acquiring an additional 1,716,929 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Coeur Mining by 253.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 872,659 shares of the basic materials company’s stock valued at $3,290,000 after purchasing an additional 625,490 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Coeur Mining by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,087,106 shares of the basic materials company’s stock valued at $52,445,000 after purchasing an additional 84,920 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Coeur Mining by 15.2% during the 4th quarter. First Eagle Investment Management LLC now owns 2,140,221 shares of the basic materials company’s stock worth $6,977,000 after purchasing an additional 282,708 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Coeur Mining by 22.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,457,720 shares of the basic materials company’s stock worth $30,832,000 after purchasing an additional 1,702,840 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.