Coeur Mining, Inc. (NYSE:CDE) Short Interest Update
by Mitch Edgeman · The Markets DailyCoeur Mining, Inc. (NYSE:CDE – Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 42,148,644 shares, a decrease of 41.0% from the March 15th total of 71,442,627 shares. Currently, 6.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 48,086,793 shares, the days-to-cover ratio is presently 0.9 days.
Wall Street Analysts Forecast Growth
CDE has been the topic of several research analyst reports. ATB Cormark Capital Markets raised shares of Coeur Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, March 24th. BMO Capital Markets initiated coverage on shares of Coeur Mining in a research note on Wednesday, March 25th. They set an “outperform” rating and a $27.00 price objective on the stock. Royal Bank Of Canada upped their target price on shares of Coeur Mining from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Wall Street Zen upgraded shares of Coeur Mining from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Finally, Zacks Research lowered shares of Coeur Mining from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.67.
Check Out Our Latest Analysis on CDE
Hedge Funds Weigh In On Coeur Mining
Several large investors have recently bought and sold shares of the business. Allworth Financial LP lifted its holdings in Coeur Mining by 20.9% in the fourth quarter. Allworth Financial LP now owns 2,994 shares of the basic materials company’s stock valued at $53,000 after buying an additional 517 shares during the period. Baader Bank Aktiengesellschaft lifted its holdings in Coeur Mining by 2.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 34,090 shares of the basic materials company’s stock valued at $608,000 after buying an additional 935 shares during the period. Sound Income Strategies LLC lifted its holdings in Coeur Mining by 99.2% in the fourth quarter. Sound Income Strategies LLC now owns 2,000 shares of the basic materials company’s stock valued at $36,000 after buying an additional 996 shares during the period. Savant Capital LLC lifted its holdings in Coeur Mining by 2.3% in the third quarter. Savant Capital LLC now owns 46,551 shares of the basic materials company’s stock valued at $873,000 after buying an additional 1,066 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in Coeur Mining by 0.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 122,722 shares of the basic materials company’s stock valued at $2,188,000 after buying an additional 1,142 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.
Coeur Mining Price Performance
Shares of CDE stock traded down $0.41 during trading hours on Monday, reaching $19.84. 2,404,956 shares of the company were exchanged, compared to its average volume of 28,394,461. Coeur Mining has a fifty-two week low of $5.21 and a fifty-two week high of $27.77. The stock’s fifty day moving average is $21.26 and its two-hundred day moving average is $19.48. The company has a market cap of $12.73 billion, a price-to-earnings ratio of 22.80 and a beta of 1.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.47 and a quick ratio of 1.66.
Coeur Mining (NYSE:CDE – Get Free Report) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Coeur Mining had a return on equity of 18.75% and a net margin of 28.31%.The company had revenue of $674.85 million for the quarter, compared to analyst estimates of $668.70 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. Coeur Mining’s revenue for the quarter was up 120.9% on a year-over-year basis. Sell-side analysts forecast that Coeur Mining will post 0.58 earnings per share for the current fiscal year.
Coeur Mining Company Profile
Coeur Mining, Inc is a publicly traded precious metals mining company headquartered in Chicago, Illinois. The company specializes in the exploration, development and production of silver and gold deposits, with a focus on high-grade underground and open-pit operations. Through a combination of operating mines and advanced exploration projects, Coeur Mining seeks to deliver consistent production of silver and gold bullion while maintaining industry standards for safety, environmental stewardship and cost management.
Coeur Mining’s portfolio includes five principal operating mines and several exploration projects across North America and Australia.