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

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

Institutional Trading of Coeur Mining

A number of hedge funds have recently bought and sold shares of CDE. EverSource Wealth Advisors LLC increased its position in shares of Coeur Mining by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,368 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 1,435 shares during the last quarter. Covestor Ltd grew its position in Coeur Mining by 7,011.5% during the third quarter. Covestor Ltd now owns 1,849 shares of the basic materials company’s stock valued at $35,000 after buying an additional 1,823 shares during the period. JPL Wealth Management LLC bought a new position in Coeur Mining during the third quarter valued at about $35,000. Lodestone Wealth Management LLC purchased a new stake in Coeur Mining during the fourth quarter worth about $36,000. Finally, Luminist Capital LLC bought a new stake in Coeur Mining in the second quarter worth about $40,000. 63.01% of the stock is currently owned by institutional investors.

Coeur Mining Stock Up 1.2%

CDE opened at $22.86 on Wednesday. Coeur Mining has a fifty-two week low of $4.58 and a fifty-two week high of $23.61. The firm has a market capitalization of $14.68 billion, a P/E ratio of 34.63 and a beta of 1.24. The company’s 50-day moving average is $17.61 and its 200 day moving average is $15.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.00 and a quick ratio of 1.10.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on CDE shares. Weiss Ratings restated a “buy (b-)” rating on shares of Coeur Mining in a report on Monday, December 29th. TD Cowen upgraded shares of Coeur Mining to a “strong-buy” rating in a research note on Monday, December 1st. Roth Capital upped their price objective on shares of Coeur Mining from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Raymond James Financial set a $21.00 price objective on shares of Coeur Mining in a report on Thursday, October 30th. Finally, Cantor Fitzgerald downgraded shares of Coeur Mining from an “overweight” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $16.75.

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.