Short Interest in Coeur Mining, Inc. (NYSE:CDE) Declines By 6.3%

Coeur Mining, Inc. (NYSE:CDE) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 17,610,000 shares, a decrease of 6.3% from the July 15th total of 18,790,000 shares. Based on an average daily trading volume, of 6,710,000 shares, the short-interest ratio is presently 2.6 days.

Institutional Investors Weigh In On Coeur Mining

A number of institutional investors have recently made changes to their positions in CDE. The Manufacturers Life Insurance Company lifted its stake in Coeur Mining by 29.4% during the second quarter. The Manufacturers Life Insurance Company now owns 226,406 shares of the basic materials company’s stock worth $1,272,000 after purchasing an additional 51,474 shares during the last quarter. Millennium Management LLC lifted its position in shares of Coeur Mining by 2.6% in the 2nd quarter. Millennium Management LLC now owns 2,833,850 shares of the basic materials company’s stock worth $15,926,000 after buying an additional 72,423 shares during the last quarter. Dark Forest Capital Management LP boosted its holdings in shares of Coeur Mining by 31.1% in the 2nd quarter. Dark Forest Capital Management LP now owns 49,091 shares of the basic materials company’s stock valued at $276,000 after buying an additional 11,651 shares during the period. AQR Capital Management LLC grew its position in shares of Coeur Mining by 84.6% during the 2nd quarter. AQR Capital Management LLC now owns 487,609 shares of the basic materials company’s stock valued at $2,740,000 after buying an additional 223,529 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Coeur Mining during the second quarter worth about $49,000. 63.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James raised their target price on Coeur Mining from $5.75 to $6.25 and gave the company a “market perform” rating in a report on Friday, August 9th. Roth Mkm reiterated a “buy” rating and set a $8.00 price objective (up previously from $7.25) on shares of Coeur Mining in a research note on Friday, August 9th. Cantor Fitzgerald cut shares of Coeur Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets raised their price target on shares of Coeur Mining from $6.75 to $7.50 and gave the company an “outperform” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.44.

Coeur Mining Trading Up 1.4 %

CDE opened at $6.39 on Wednesday. Coeur Mining has a 12-month low of $2.00 and a 12-month high of $6.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.99 and a quick ratio of 0.43. The stock has a market capitalization of $2.55 billion, a PE ratio of -20.61 and a beta of 1.60. The firm’s fifty day moving average price is $5.95 and its 200 day moving average price is $4.78.

Coeur Mining (NYSE:CDE) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $222.03 million for the quarter, compared to analysts’ expectations of $242.18 million. Coeur Mining had a negative net margin of 12.77% and a negative return on equity of 6.28%. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.06) earnings per share. As a group, research analysts expect that Coeur Mining will post 0.08 EPS for the current fiscal year.

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.