Coeur Mining, Inc. (NYSE:CDE) Short Interest Update

Coeur Mining, Inc. (NYSE:CDE) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 33,840,000 shares, a drop of 9.8% from the November 15th total of 37,530,000 shares. Based on an average daily volume of 10,110,000 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. purchased a new position in Coeur Mining during the third quarter worth $423,000. Virtu Financial LLC purchased a new position in shares of Coeur Mining in the 3rd quarter worth about $119,000. Geode Capital Management LLC lifted its position in Coeur Mining by 1.0% during the third quarter. Geode Capital Management LLC now owns 9,146,107 shares of the basic materials company’s stock valued at $62,937,000 after buying an additional 89,863 shares in the last quarter. 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 valued at $6,624,000 after acquiring an additional 358,097 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Coeur Mining by 19.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 157,322 shares of the basic materials company’s stock worth $1,082,000 after buying an additional 25,878 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Cantor Fitzgerald upgraded Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on shares of Coeur Mining from $7.00 to $7.75 and gave the company a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets raised their target price on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, Raymond James boosted their price target on shares of Coeur Mining from $6.25 to $7.00 and gave the company a “market perform” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.81.

Coeur Mining Stock Performance

CDE traded up $0.01 during trading on Tuesday, reaching $6.32. The company’s stock had a trading volume of 6,495,841 shares, compared to its average volume of 8,032,272. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.39 and a current ratio of 1.09. Coeur Mining has a 52-week low of $2.42 and a 52-week high of $7.72. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -210.67 and a beta of 1.60. The company’s fifty day moving average price is $6.58 and its 200-day moving average price is $6.28.

Coeur Mining (NYSE:CDE) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. Coeur Mining had a negative net margin of 0.44% and a positive return on equity of 1.78%. The company had revenue of $313.50 million for the quarter, compared to analyst estimates of $289.19 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 61.1% compared to the same quarter last year. On average, equities analysts forecast that Coeur Mining will post 0.15 earnings per share for the current fiscal year.

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.