Coeur Mining Inc (CDE) Sees Significant Increase in Short Interest

Coeur Mining Inc (NYSE:CDE) was the target of a large increase in short interest in March. As of March 29th, there was short interest totalling 14,433,072 shares, an increase of 22.2% from the March 15th total of 11,808,483 shares. Currently, 7.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,853,421 shares, the days-to-cover ratio is currently 5.1 days.

In related news, SVP Hans John Rasmussen sold 7,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $4.78, for a total value of $35,850.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.88% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp raised its position in Coeur Mining by 14.5% in the 4th quarter. Van ECK Associates Corp now owns 24,967,902 shares of the basic materials company’s stock valued at $111,607,000 after purchasing an additional 3,153,734 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Coeur Mining by 2.5% during the third quarter. Vanguard Group Inc. now owns 16,704,201 shares of the basic materials company’s stock worth $89,033,000 after acquiring an additional 404,798 shares during the last quarter. Vanguard Group Inc raised its position in shares of Coeur Mining by 2.5% during the third quarter. Vanguard Group Inc now owns 16,704,201 shares of the basic materials company’s stock worth $89,033,000 after acquiring an additional 404,798 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Coeur Mining by 11.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,719,591 shares of the basic materials company’s stock worth $70,266,000 after acquiring an additional 1,559,563 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Coeur Mining by 7.1% during the fourth quarter. BlackRock Inc. now owns 13,712,933 shares of the basic materials company’s stock worth $61,297,000 after acquiring an additional 914,807 shares during the last quarter. Hedge funds and other institutional investors own 67.22% of the company’s stock.

Several analysts recently commented on CDE shares. Zacks Investment Research raised Coeur Mining from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 21st. BMO Capital Markets lowered Coeur Mining from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $6.50 to $6.00 in a research note on Friday, February 22nd. Noble Financial set a $7.00 price target on Coeur Mining and gave the company a “buy” rating in a research note on Friday, February 22nd. Raymond James reaffirmed an “outperform” rating and issued a $6.50 price target on shares of Coeur Mining in a research note on Friday, February 22nd. Finally, B. Riley started coverage on Coeur Mining in a research note on Friday, March 1st. They issued a “buy” rating and a $6.25 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Coeur Mining has an average rating of “Buy” and an average target price of $7.58.

Shares of CDE opened at $3.90 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.85 and a debt-to-equity ratio of 0.51. Coeur Mining has a 52-week low of $3.76 and a 52-week high of $8.89. The firm has a market capitalization of $808.53 million, a price-to-earnings ratio of -390.00 and a beta of 0.42.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, February 20th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.20. Coeur Mining had a negative return on equity of 0.22% and a negative net margin of 7.74%. The firm had revenue of $143.80 million during the quarter, compared to the consensus estimate of $152.25 million. During the same quarter in the previous year, the company posted $0.08 EPS. The business’s revenue for the quarter was down 33.0% compared to the same quarter last year. On average, equities research analysts forecast that Coeur Mining will post 0.11 earnings per share for the current year.

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About Coeur Mining

Coeur Mining, Inc explores for, develops, and produces gold, silver, zinc, and lead properties. It holds interests in the Palmarejo gold and silver complex located in Mexico; the Rochester silver and gold mine situated in Nevada; the Kensington gold mine located in Alaska; the Wharf gold mine situated in South Dakota; and the Silvertip silver-zinc-lead mine located in Canada.

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