Short Interest in Coeur Mining, Inc. (NYSE:CDE) Declines By 57.3%

Coeur Mining, Inc. (NYSE:CDE) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 21,880,000 shares, a decrease of 57.3% from the February 13th total of 51,250,000 shares. Currently, 5.6% of the company’s stock are sold short. Based on an average trading volume of 15,890,000 shares, the days-to-cover ratio is presently 1.4 days.

Insider Buying and Selling at Coeur Mining

In related news, CFO Thomas S. Whelan bought 10,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $5.25 per share, for a total transaction of $52,500.00. Following the purchase, the chief financial officer now owns 668,450 shares in the company, valued at $3,509,362.50. This trade represents a 1.52 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coeur Mining

Institutional investors have recently bought and sold shares of the stock. Merit Financial Group LLC boosted its holdings in Coeur Mining by 5.4% in the fourth quarter. Merit Financial Group LLC now owns 31,574 shares of the basic materials company’s stock worth $181,000 after purchasing an additional 1,607 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Coeur Mining by 0.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 315,190 shares of the basic materials company’s stock worth $1,803,000 after acquiring an additional 2,323 shares during the period. Summit Investment Advisors Inc. raised its position in Coeur Mining by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 41,333 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 2,624 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Coeur Mining by 10.9% during the fourth quarter. Xponance Inc. now owns 28,712 shares of the basic materials company’s stock valued at $164,000 after acquiring an additional 2,811 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Coeur Mining by 139.8% in the 4th quarter. GAMMA Investing LLC now owns 5,761 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 3,359 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Performance

NYSE CDE traded up $0.11 on Thursday, hitting $5.82. The stock had a trading volume of 19,070,995 shares, compared to its average volume of 10,195,393. The company’s 50-day moving average is $6.16 and its two-hundred day moving average is $6.35. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 48.46 and a beta of 1.51. The company has a quick ratio of 0.39, a current ratio of 0.83 and a debt-to-equity ratio of 0.50. Coeur Mining has a one year low of $2.98 and a one year high of $7.72.

Coeur Mining (NYSE:CDE) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. Coeur Mining had a return on equity of 6.59% and a net margin of 5.59%. The firm had revenue of $305.40 million for the quarter, compared to analysts’ expectations of $314.32 million. On average, analysts expect that Coeur Mining will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on CDE shares. TD Cowen upgraded Coeur Mining to a “strong-buy” rating in a research report on Tuesday. Cormark raised shares of Coeur Mining to a “moderate buy” rating in a report on Thursday, February 20th. BMO Capital Markets started coverage on shares of Coeur Mining in a report on Tuesday, February 18th. They set an “outperform” rating and a $9.00 target price on the stock. TD Securities started coverage on shares of Coeur Mining in a research report on Tuesday. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Roth Mkm lowered their price objective on shares of Coeur Mining from $8.50 to $8.25 and set a “buy” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $8.05.

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.