Coeur Mining, Inc. (NYSE:CDE) Short Interest Up 22.4% in October

Coeur Mining, Inc. (NYSE:CDE) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 29,000,000 shares, an increase of 22.4% from the October 15th total of 23,700,000 shares. Based on an average daily volume of 9,420,000 shares, the days-to-cover ratio is currently 3.1 days.

Analysts Set New Price Targets

A number of brokerages have commented on CDE. Raymond James boosted their price objective 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. BMO Capital Markets boosted their price target on Coeur Mining from $7.50 to $8.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. StockNews.com upgraded Coeur Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Canaccord Genuity Group boosted 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, Roth Mkm reiterated a “buy” rating and issued a $8.50 price target (down previously from $9.00) on shares of Coeur Mining in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.81.

Coeur Mining Stock Down 1.4 %

NYSE CDE traded down $0.09 on Friday, hitting $6.14. 12,511,997 shares of the stock traded hands, compared to its average volume of 11,339,526. The stock has a 50-day moving average of $6.63 and a 200 day moving average of $6.08. Coeur Mining has a twelve month low of $2.39 and a twelve month high of $7.72. The company has a market capitalization of $2.45 billion, a P/E ratio of -204.60 and a beta of 1.65. 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 (NYSE:CDE) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.12 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $289.19 million. During the same period in the prior year, the company earned ($0.05) earnings per share. The business’s revenue was up 61.1% compared to the same quarter last year. As a group, analysts expect that Coeur Mining will post 0.15 earnings per share 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 company. Van ECK Associates Corp lifted its position in shares of Coeur Mining by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after acquiring an additional 365,115 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Coeur Mining in the first quarter valued at $41,587,000. Geode Capital Management LLC lifted its holdings in shares of Coeur Mining by 1.0% in 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 purchasing an additional 89,863 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Coeur Mining by 248.1% in the second quarter. American Century Companies Inc. now owns 6,463,587 shares of the basic materials company’s stock valued at $36,325,000 after purchasing an additional 4,606,711 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Coeur Mining by 2.6% in the second quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock worth $15,926,000 after acquiring an additional 72,423 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

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.