Coeur Mining, Inc. (NYSE:CDE) Short Interest Up 6.4% in December

Coeur Mining, Inc. (NYSE:CDE) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 36,000,000 shares, a growth of 6.4% from the November 30th total of 33,840,000 shares. Based on an average daily volume of 9,920,000 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

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

Coeur Mining Price Performance

Coeur Mining stock opened at $5.72 on Thursday. The stock has a market cap of $2.28 billion, a P/E ratio of -190.60 and a beta of 1.60. The company has a fifty day simple moving average of $6.38 and a 200-day simple moving average of $6.29. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53. Coeur Mining has a 12-month low of $2.42 and a 12-month high of $7.72.

Coeur Mining (NYSE:CDE) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Coeur Mining had a positive return on equity of 1.78% and a negative net margin of 0.44%. The company had revenue of $313.50 million during the quarter, compared to the consensus estimate of $289.19 million. During the same period in the previous year, the business earned ($0.05) EPS. Coeur Mining’s revenue for the quarter was up 61.1% on a year-over-year basis. Equities analysts expect that Coeur Mining will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Coeur Mining during the 2nd quarter worth approximately $49,000. CWM LLC lifted its position in Coeur Mining by 93.2% in the third quarter. CWM LLC now owns 9,716 shares of the basic materials company’s stock valued at $67,000 after acquiring an additional 4,686 shares during the last quarter. Hohimer Wealth Management LLC acquired a new position in Coeur Mining in the second quarter valued at $57,000. WINTON GROUP Ltd purchased a new position in shares of Coeur Mining during the second quarter worth about $57,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Coeur Mining during the second quarter worth about $59,000. 63.01% of the stock is owned by institutional investors and hedge funds.

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.