Short Interest in Coeur Mining, Inc. (NYSE:CDE) Rises By 23.4%

Coeur Mining, Inc. (NYSE:CDE - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 25,590,000 shares, an increase of 23.4% from the May 15th total of 20,730,000 shares. Approximately 6.5% of the shares of the stock are sold short. Based on an average trading volume of 18,340,000 shares, the days-to-cover ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CDE shares. National Bankshares set a $12.00 target price on shares of Coeur Mining in a research report on Friday, June 13th. Roth Mkm cut their price objective on Coeur Mining from $8.50 to $8.25 and set a "buy" rating on the stock in a report on Friday, February 21st. National Bank Financial raised Coeur Mining to a "strong-buy" rating in a report on Thursday, June 12th. TD Securities started coverage on Coeur Mining in a research report on Tuesday, March 11th. They issued a "buy" rating and a $7.00 target price for the company. Finally, Cormark upgraded Coeur Mining to a "moderate buy" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $8.75.

Coeur Mining Trading Down 2.0%

Shares of CDE stock traded down $0.19 on Thursday, hitting $9.04. The company had a trading volume of 11,385,627 shares, compared to its average volume of 12,983,840. Coeur Mining has a twelve month low of $4.57 and a twelve month high of $9.69. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.62 and a current ratio of 1.93. The firm has a market cap of $5.78 billion, a P/E ratio of 34.75 and a beta of 1.31. The stock's 50-day moving average is $7.32 and its two-hundred day moving average is $6.53.

Coeur Mining (NYSE:CDE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.12. Coeur Mining had a net margin of 10.11% and a return on equity of 9.96%. During the same quarter last year, the business posted ($0.05) earnings per share. The company's revenue for the quarter was up 69.0% compared to the same quarter last year. On average, equities research analysts anticipate that Coeur Mining will post 0.58 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Coeur Mining

Large investors have recently modified their holdings of the stock. MAI Capital Management bought a new position in Coeur Mining during the first quarter worth $25,000. Summer Road LLC acquired a new position in shares of Coeur Mining during the first quarter valued at about $28,000. City State Bank boosted its position in shares of Coeur Mining by 56.9% during the 1st quarter. City State Bank now owns 6,274 shares of the basic materials company's stock worth $37,000 after purchasing an additional 2,274 shares in the last quarter. Quarry LP grew its stake in shares of Coeur Mining by 853.8% in the 4th quarter. Quarry LP now owns 6,667 shares of the basic materials company's stock valued at $38,000 after buying an additional 5,968 shares during the period. Finally, Optiver Holding B.V. increased its position in Coeur Mining by 150.5% in the 4th quarter. Optiver Holding B.V. now owns 8,160 shares of the basic materials company's stock valued at $47,000 after buying an additional 4,903 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

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.

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