Published On: Mon, Sep 19th, 2016

Short Interest in Coeur Mining Inc. (CDE) Drops By 21.7%

Coeur Mining Inc. (NYSE:CDE) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 12,498,294 shares, a decline of 21.7% from the August 15th total of 15,959,279 shares. Currently, 7.8% of the company’s stock are short sold. Based on an average daily volume of 6,312,324 shares, the days-to-cover ratio is currently 2.0 days.
In other Coeur Mining news, SVP Hans John Rasmussen sold 3,477 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $15.00, for a total transaction of $52,155.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J Kenneth Thompson sold 7,500 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $15.52, for a total transaction of $116,400.00. Following the sale, the director now directly owns 85,788 shares in the company, valued at $1,331,429.76. The disclosure for this sale can be found here. Company insiders own 1.53% of the company’s stock.
Large investors have recently modified their holdings of the company. Societe Generale bought a new stake in shares of Coeur Mining during the second quarter worth approximately $106,000. SG Americas Securities LLC acquired a new position in Coeur Mining during the second quarter worth $106,000. Nuveen Asset Management LLC acquired a new position in Coeur Mining during the second quarter worth $108,000. Ameritas Investment Partners Inc. increased its position in Coeur Mining by 13.5% in the second quarter. Ameritas Investment Partners Inc. now owns 11,907 shares of the company’s stock worth $127,000 after buying an additional 1,415 shares during the period. Finally, Zacks Investment Management acquired a new position in Coeur Mining during the second quarter worth $130,000. Institutional investors and hedge funds own 69.47% of the company’s stock.

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CDE has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Coeur Mining from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a research note on Thursday, June 9th. Royal Bank Of Canada began coverage on shares of Coeur Mining in a report on Tuesday, June 21st. They set a “sector perform” rating and a $9.00 price target on the stock. Raymond James Financial Inc. upgraded shares of Coeur Mining from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. Roth Capital restated a “buy” rating on shares of Coeur Mining in a report on Monday, June 27th. Finally, Barclays PLC boosted their price target on shares of Coeur Mining and gave the company an “outperform” rating in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $6.05.
Shares of Coeur Mining (NYSE:CDE) opened at 12.43 on Monday. Coeur Mining has a one year low of $1.62 and a one year high of $16.41. The company has a 50-day moving average of $14.59 and a 200-day moving average of $9.66. The company’s market capitalization is $2.02 billion.
Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Coeur Mining had a negative net margin of 49.17% and a negative return on equity of 8.38%. The business had revenue of $182 million for the quarter, compared to analyst estimates of $173.92 million. During the same period last year, the business posted ($0.11) earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts anticipate that Coeur Mining will post $0.27 earnings per share for the current year.
Coeur Mining Company Profile
Coeur Mining, Inc is a gold and silver producer. The Company’s segments include Palmarejo complex, Rochester, Kensington, Wharf and San Bartolome mines, and Coeur Capital. The Company also a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand.

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