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

Coeur Mining, Inc. (NYSE:CDEGet Rating) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 17,270,000 shares, an increase of 24.8% from the March 15th total of 13,840,000 shares. Based on an average daily trading volume, of 6,490,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 6.8% of the shares of the stock are sold short.

In other Coeur Mining news, COO Michael Routledge bought 11,760 shares of the firm’s stock in a transaction dated Friday, February 25th. The stock was bought at an average cost of $4.26 per share, with a total value of $50,097.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas S. Whelan acquired 10,000 shares of Coeur Mining stock in a transaction on Friday, February 25th. The stock was purchased at an average cost of $4.25 per share, with a total value of $42,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 27,760 shares of company stock worth $119,108. Insiders own 1.61% of the company’s stock.

Several large investors have recently modified their holdings of the company. Marotta Asset Management grew its holdings in shares of Coeur Mining by 52.2% during the 1st quarter. Marotta Asset Management now owns 35,000 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 12,000 shares during the last quarter. Byrne Asset Management LLC bought a new position in shares of Coeur Mining during the 1st quarter valued at $39,000. Norges Bank bought a new stake in Coeur Mining in the 4th quarter worth $7,969,000. Wells Fargo & Company MN grew its holdings in Coeur Mining by 15.7% in the 4th quarter. Wells Fargo & Company MN now owns 347,727 shares of the basic materials company’s stock worth $1,752,000 after acquiring an additional 47,069 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Coeur Mining in the 4th quarter worth $472,000. 62.94% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on CDE shares. Canaccord Genuity Group downgraded shares of Coeur Mining from a “buy” rating to a “hold” rating and set a $4.75 price objective for the company. in a research report on Thursday, February 17th. Zacks Investment Research cut shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 2nd. Raymond James dropped their target price on shares of Coeur Mining from $8.00 to $5.75 and set a “market perform” rating on the stock in a research note on Friday, February 18th. TheStreet cut shares of Coeur Mining from a “c-” rating to a “d+” rating in a research note on Wednesday, December 29th. Finally, StockNews.com assumed coverage on shares of Coeur Mining in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.75.

NYSE CDE traded down $0.13 on Tuesday, hitting $5.00. The stock had a trading volume of 112,113 shares, compared to its average volume of 6,365,283. Coeur Mining has a 52-week low of $4.12 and a 52-week high of $11.14. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.67 and a current ratio of 1.23. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -46.63 and a beta of 1.77. The firm has a 50-day moving average of $4.68 and a 200-day moving average of $5.33.

Coeur Mining (NYSE:CDEGet Rating) last issued its quarterly earnings results on Wednesday, February 16th. The basic materials company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.09). The company had revenue of $207.80 million during the quarter, compared to the consensus estimate of $206.73 million. Coeur Mining had a negative return on equity of 0.14% and a negative net margin of 3.75%. Coeur Mining’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. As a group, research analysts anticipate that Coeur Mining will post -0.03 earnings per share for the current fiscal year.

Coeur Mining Company Profile (Get Rating)

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 holds 100% interests in the Palmarejo gold and silver mine covering an area of approximately 67,296 net acres located in the State of Chihuahua in Northern Mexico; the Rochester silver and gold mine that covers an area of approximately 43,441net acres situated in northwestern Nevada; the Kensington gold mine comprising 3,972 net acres located to the north of Juneau, Alaska; the Wharf gold mine covering an area of approximately 3,243 net acres situated in the northern Black Hills of western South Dakota; and the Silvertip silver-zinc-lead mine comprising 97,298 net acres located in northern British Columbia, Canada.

Read More

Receive News & Ratings for Coeur Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coeur Mining and related companies with MarketBeat.com's FREE daily email newsletter.