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

Coeur Mining, Inc. (NYSE:CDE) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 66,576,252 shares, a growth of 20.5% from the December 15th total of 55,243,409 shares. Approximately 10.5% of the company’s shares are sold short. Based on an average daily volume of 19,554,348 shares, the short-interest ratio is currently 3.4 days. Based on an average daily volume of 19,554,348 shares, the short-interest ratio is currently 3.4 days. Approximately 10.5% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. TD Securities raised their price objective on Coeur Mining from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Zacks Research raised Coeur Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Cormark downgraded Coeur Mining from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Coeur Mining in a research note on Monday, December 29th. Finally, Raymond James Financial set a $21.00 target price on shares of Coeur Mining in a report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $16.75.

Institutional Investors Weigh In On Coeur Mining

Several institutional investors and hedge funds have recently modified their holdings of CDE. AQR Capital Management LLC increased its position in shares of Coeur Mining by 60.2% during the first quarter. AQR Capital Management LLC now owns 748,907 shares of the basic materials company’s stock valued at $4,434,000 after buying an additional 281,489 shares during the period. Goldman Sachs Group Inc. boosted its position in Coeur Mining by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,352,940 shares of the basic materials company’s stock valued at $49,449,000 after acquiring an additional 1,278,110 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Coeur Mining by 122.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,431,244 shares of the basic materials company’s stock valued at $14,393,000 after acquiring an additional 1,339,138 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Coeur Mining during the 1st quarter worth approximately $60,000. Finally, Intech Investment Management LLC grew its holdings in shares of Coeur Mining by 58.4% during the 1st quarter. Intech Investment Management LLC now owns 269,203 shares of the basic materials company’s stock worth $1,594,000 after acquiring an additional 99,256 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Trading Up 6.3%

CDE traded up $1.33 during midday trading on Monday, reaching $22.55. 29,373,037 shares of the company’s stock traded hands, compared to its average volume of 19,077,222. Coeur Mining has a 52 week low of $4.58 and a 52 week high of $23.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.00 and a quick ratio of 1.10. The firm has a fifty day moving average of $17.46 and a two-hundred day moving average of $15.41. The stock has a market capitalization of $14.48 billion, a price-to-earnings ratio of 34.17 and a beta of 1.24.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, October 29th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $554.57 million for the quarter, compared to analysts’ expectations of $511.20 million. Coeur Mining had a net margin of 24.03% and a return on equity of 15.52%. Coeur Mining’s quarterly revenue was up 76.9% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. On average, equities analysts anticipate that Coeur Mining will post 0.58 earnings per share for the current fiscal year.

About Coeur Mining

Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.

Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.