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

Coeur Mining, Inc. (NYSE:CDE) saw a significant growth in short interest during the month of 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 short-interest ratio is currently 3.7 days.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Coeur Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and set a $8.50 price objective (down previously from $9.00) on shares of Coeur Mining in a research report on Friday, November 8th. BMO Capital Markets assumed coverage on shares of Coeur Mining in a research report on Tuesday. They set an “outperform” rating and a $9.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded shares of Coeur Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coeur Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.06.

Institutional Trading of Coeur Mining

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Coeur Mining by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 40,700,218 shares of the basic materials company’s stock worth $232,805,000 after acquiring an additional 3,178,785 shares during the period. Van ECK Associates Corp lifted its stake in Coeur Mining by 1.1% in the third quarter. Van ECK Associates Corp now owns 34,469,783 shares of the basic materials company’s stock worth $251,629,000 after acquiring an additional 365,115 shares during the period. Dimensional Fund Advisors LP lifted its stake in Coeur Mining by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,157,325 shares of the basic materials company’s stock worth $98,137,000 after acquiring an additional 282,885 shares during the period. Tidal Investments LLC lifted its stake in Coeur Mining by 11.1% in the fourth quarter. Tidal Investments LLC now owns 13,343,775 shares of the basic materials company’s stock worth $76,326,000 after acquiring an additional 1,332,684 shares during the period. Finally, Geode Capital Management LLC lifted its stake in 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 worth $62,937,000 after acquiring an additional 89,863 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Coeur Mining Trading Down 2.8 %

Shares of CDE traded down $0.19 during trading hours on Tuesday, reaching $6.43. 23,992,085 shares of the company traded hands, compared to its average volume of 16,063,738. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -214.10 and a beta of 1.59. Coeur Mining has a 12-month low of $2.42 and a 12-month high of $7.72. The company has a current ratio of 1.09, a quick ratio of 0.39 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average price is $6.38 and its 200 day moving average price is $6.39.

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.