Short Interest in Coeur Mining, Inc. (NYSE:CDE) Declines By 20.5%

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 20,730,000 shares, a decline of 20.5% from the April 30th total of 26,080,000 shares. Based on an average trading volume of 19,110,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 5.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CDE. TD Securities initiated coverage on Coeur Mining in a report on Tuesday, March 11th. They set a "buy" rating and a $7.00 price objective for the company. National Bank Financial upgraded shares of Coeur Mining to a "strong-buy" rating in a research report on Friday, March 21st. TD Cowen raised shares of Coeur Mining to a "strong-buy" rating in a report on Tuesday, March 11th. Raymond James reiterated an "outperform" rating and issued a $8.50 target price on shares of Coeur Mining in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets assumed coverage on Coeur Mining in a report on Tuesday, February 18th. They set an "outperform" rating and a $9.00 price target for the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $8.10.

Coeur Mining Stock Performance

NYSE CDE traded up $0.20 during trading on Tuesday, reaching $8.83. The company's stock had a trading volume of 16,503,113 shares, compared to its average volume of 12,578,987. The firm has a 50 day moving average price of $6.42 and a 200 day moving average price of $6.31. Coeur Mining has a 12 month low of $4.57 and a 12 month high of $8.89. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 73.55 and a beta of 1.24. The company has a current ratio of 0.83, a quick ratio of 0.39 and a debt-to-equity ratio of 0.50.

Coeur Mining (NYSE:CDE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.12. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. The firm's revenue for the quarter was up 69.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. As a group, equities analysts anticipate that Coeur Mining will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Pierre Beaudoin sold 60,551 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $7.30, for a total transaction of $442,022.30. Following the transaction, the director now owns 188,362 shares in the company, valued at approximately $1,375,042.60. The trade was a 24.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Luna sold 17,160 shares of Coeur Mining stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $7.83, for a total transaction of $134,362.80. Following the sale, the director now owns 101,841 shares in the company, valued at approximately $797,415.03. This trade represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,061 shares of company stock valued at $667,775. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CDE. Barclays PLC lifted its holdings in shares of Coeur Mining by 59.2% during the 3rd quarter. Barclays PLC now owns 962,652 shares of the basic materials company's stock worth $6,624,000 after acquiring an additional 358,097 shares during the period. KBC Group NV boosted its holdings in shares of Coeur Mining by 45.4% in the 4th quarter. KBC Group NV now owns 18,919 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 5,908 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Coeur Mining in the 4th quarter valued at $192,000. Empowered Funds LLC acquired a new position in shares of Coeur Mining during the 4th quarter worth $66,000. Finally, Savant Capital LLC bought a new stake in shares of Coeur Mining during the 4th quarter worth $255,000. Institutional investors and hedge funds 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.