Short Interest in Coeur Mining, Inc. (NYSE:CDE) Declines By 9.8%

Coeur Mining, Inc. (NYSE:CDE) was the recipient of a large drop in short interest in 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.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Coeur Mining

Several institutional investors have recently added to or reduced their stakes in CDE. Ballentine Partners LLC raised its stake in shares of Coeur Mining by 18.3% during the second quarter. Ballentine Partners LLC now owns 14,435 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 2,232 shares during the last quarter. CWM LLC lifted its stake in shares of Coeur Mining by 831.5% in the 2nd quarter. CWM LLC now owns 5,030 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 4,490 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Coeur Mining by 59.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,024 shares of the basic materials company’s stock valued at $90,000 after acquiring an additional 5,993 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Coeur Mining by 6.1% during the second quarter. Arizona State Retirement System now owns 111,585 shares of the basic materials company’s stock worth $627,000 after acquiring an additional 6,435 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Coeur Mining in the second quarter valued at about $49,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Coeur Mining Stock Up 0.2 %

NYSE:CDE traded up $0.01 during trading hours on Tuesday, hitting $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 stock has a market capitalization of $2.52 billion, a P/E ratio of -210.67 and a beta of 1.60. Coeur Mining has a 52-week low of $2.42 and a 52-week high of $7.72. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $6.58 and a 200-day moving average of $6.28.

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

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.