Short Interest in Coeur Mining, Inc. (NYSE:CDE) Grows By 38.2%

Key Points

• Coeur Mining, Inc. saw a significant increase in short interest of 38.2% in August, bringing the total to 26,100,000 shares.
• The company reported earnings of $0.20 per share for the last quarter, exceeding analysts' expectations and marking a 116.5% increase in revenue year-over-year.
• Analysts have a consensus rating of "Buy" for Coeur Mining, with price targets ranging from $12.00 to $13.00 based on recent recommendations.

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totaling 26,100,000 shares, anincreaseof38.2% from the July 31st total of 18,890,000 shares. Based on an average daily volume of 13,190,000 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 13,190,000 shares, the days-to-cover ratio is currently 2.0 days.

Coeur Mining Trading Down 0.9%

CDE stock traded down $0.14 during trading on Monday, reaching $14.54. 16,198,046 shares of the stock traded hands, compared to its average volume of 13,556,102. The business's 50 day moving average price is $10.70 and its 200-day moving average price is $8.18. Coeur Mining has a 52-week low of $4.58 and a 52-week high of $14.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.60. The firm has a market capitalization of $9.34 billion, a PE ratio of 39.28 and a beta of 1.19.

Coeur Mining (NYSE:CDE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. Coeur Mining had a return on equity of 14.38% and a net margin of 13.06%.The firm had revenue of $480.65 million during the quarter, compared to the consensus estimate of $438.40 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm's quarterly revenue was up 116.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Coeur Mining will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. Roth Capital reissued a "buy" rating and set a $13.00 price target on shares of Coeur Mining in a research report on Thursday, August 7th. National Bankshares set a $12.00 price target on Coeur Mining in a research report on Friday, June 13th. BMO Capital Markets lifted their price objective on Coeur Mining from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Zacks Research raised Coeur Mining to a "hold" rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Coeur Mining presently has a consensus rating of "Buy" and a consensus price target of $9.79.

Insider Activity

In related news, CAO Kenneth J. Watkinson sold 8,000 shares of Coeur Mining stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.62, for a total transaction of $92,960.00. Following the completion of the transaction, the chief accounting officer directly owned 143,007 shares of the company's stock, valued at approximately $1,661,741.34. The trade was a 5.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.57, for a total value of $559,548.34. Following the transaction, the director directly owned 140,000 shares of the company's stock, valued at approximately $1,619,800. This represents a 25.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 516,619 shares of company stock valued at $6,626,362 in the last 90 days. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Coeur Mining by 57.3% during the first quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock valued at $378,903,000 after acquiring an additional 23,303,638 shares during the period. Dimensional Fund Advisors LP grew its position in Coeur Mining by 26.8% during the first quarter. Dimensional Fund Advisors LP now owns 21,751,422 shares of the basic materials company's stock valued at $128,774,000 after acquiring an additional 4,594,097 shares during the period. Tidal Investments LLC grew its position in Coeur Mining by 55.3% during the second quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company's stock valued at $183,709,000 after acquiring an additional 7,382,955 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Coeur Mining by 72.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,040,649 shares of the basic materials company's stock worth $106,801,000 after purchasing an additional 7,579,901 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Coeur Mining by 2.0% during the second quarter. Geode Capital Management LLC now owns 14,979,134 shares of the basic materials company's stock worth $132,732,000 after purchasing an additional 288,626 shares in the last quarter. Hedge funds and other 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.

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