Coeur Mining, Inc. (NYSE:CDE) Sees Significant Growth in Short Interest

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 growth in short interest during the month of August. As of August 15th, there was short interest totaling 26,100,000 shares, a growth of 38.2% from the July 31st total of 18,890,000 shares. Based on an average trading volume of 13,190,000 shares, the short-interest ratio is currently 2.0 days. Based on an average trading volume of 13,190,000 shares, the short-interest ratio is currently 2.0 days.

Coeur Mining Trading Up 1.1%

NYSE:CDE traded up $0.17 on Friday, reaching $15.54. The company's stock had a trading volume of 12,333,795 shares, compared to its average volume of 13,318,498. Coeur Mining has a 12-month low of $4.58 and a 12-month high of $15.75. The company has a quick ratio of 0.60, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 42.01 and a beta of 1.19. The stock has a 50 day moving average price of $11.19 and a 200 day moving average price of $8.41.

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

Insider Transactions at Coeur Mining

In related news, Director Pierre Beaudoin sold 48,362 shares of Coeur Mining stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.57, for a total transaction of $559,548.34. Following the transaction, the director owned 140,000 shares in the company, valued at approximately $1,619,800. This trade represents a 25.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Casey M. Nault sold 102,257 shares of Coeur Mining stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $12.00, for a total value of $1,227,084.00. Following the transaction, the senior vice president owned 568,623 shares in the company, valued at approximately $6,823,476. The trade was a 15.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 516,619 shares of company stock valued at $6,626,362. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Coeur Mining

Several institutional investors and hedge funds have recently modified their holdings of CDE. Vanguard Group Inc. raised its holdings in shares of Coeur Mining by 57.3% in the 1st quarter. Vanguard Group Inc. now owns 64,003,856 shares of the basic materials company's stock valued at $378,903,000 after buying an additional 23,303,638 shares during the period. Sprott Inc. raised its holdings in shares of Coeur Mining by 889.3% in the 1st quarter. Sprott Inc. now owns 11,324,856 shares of the basic materials company's stock valued at $66,963,000 after buying an additional 10,180,102 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Coeur Mining by 72.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,040,649 shares of the basic materials company's stock valued at $106,801,000 after buying an additional 7,579,901 shares during the period. Tidal Investments LLC raised its holdings in shares of Coeur Mining by 55.3% in the 2nd quarter. Tidal Investments LLC now owns 20,734,671 shares of the basic materials company's stock valued at $183,709,000 after buying an additional 7,382,955 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Coeur Mining by 212.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 10,321,169 shares of the basic materials company's stock valued at $91,446,000 after buying an additional 7,013,222 shares during the period. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

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

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.