Coeur Mining, Inc. (NYSE:CDE) Sees Significant Growth in Short Interest

Coeur Mining, Inc. (NYSE:CDE) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 41,330,000 shares, a growth of 7.5% from the January 15th total of 38,440,000 shares. Based on an average daily volume of 11,130,000 shares, the days-to-cover ratio is currently 3.7 days.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Coeur Mining in a research report on Tuesday. They issued an “outperform” rating and a $9.00 target price on the stock. Cantor Fitzgerald raised shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com raised shares of Coeur Mining from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Roth Mkm reiterated a “buy” rating and issued a $8.50 price objective (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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coeur Mining has an average rating of “Moderate Buy” and a consensus price target of $8.06.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Coeur Mining by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock valued at $232,805,000 after buying an additional 3,178,785 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Coeur Mining by 1.1% during the third quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock valued at $251,629,000 after buying an additional 365,115 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Coeur Mining by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,157,325 shares of the basic materials company’s stock valued at $98,137,000 after buying an additional 282,885 shares during the last quarter. Tidal Investments LLC raised its position in shares of Coeur Mining by 11.1% during the fourth quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company’s stock valued at $76,326,000 after buying an additional 1,332,684 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Coeur Mining by 1.0% during 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 buying an additional 89,863 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Coeur Mining Stock Performance

NYSE CDE traded down $0.19 on Tuesday, reaching $6.43. 23,992,085 shares of the stock were exchanged, compared to its average volume of 16,063,738. Coeur Mining has a one year low of $2.42 and a one year high of $7.72. The firm has a market capitalization of $2.57 billion, a PE ratio of -214.10 and a beta of 1.59. The company’s 50-day simple moving average is $6.38 and its two-hundred day simple moving average is $6.39. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53.

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.