Coeur Mining Sees Large Growth in Short Interest (CDE)
Coeur Mining (NYSE:CDE) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 24,565,120 shares, an increase of 40.6% from the April 15th total of 17,467,131 shares, ARN reports. Approximately 24.0% of the shares of the company are sold short. Based on an average daily volume of 1,256,379 shares, the days-to-cover ratio is presently 19.6 days.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Coeur Mining in a research note on Wednesday, May 14th. They now have a $10.00 price target on the stock, down previously from $11.00. Separately, analysts at BMO Capital Markets reiterated an “underperform” rating on shares of Coeur Mining in a research note on Thursday, May 8th. They now have a $7.00 price target on the stock, down previously from $10.00. Finally, analysts at Ned Davis Research upgraded shares of Coeur Mining from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Coeur Mining has an average rating of “Hold” and an average target price of $11.14.
Shares of Coeur Mining (NYSE:CDE) opened at 7.80 on Wednesday. Coeur Mining has a 52 week low of $7.71 and a 52 week high of $16.95. The stock’s 50-day moving average is $8.58 and its 200-day moving average is $10.21. The company’s market cap is $807.5 million.
Coeur Mining (NYSE:CDE) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.31) by $0.12. The company had revenue of $159.60 million for the quarter, compared to the consensus estimate of $164.45 million. During the same quarter last year, the company posted $0.08 earnings per share. Coeur Mining’s revenue was down 7.0% compared to the same quarter last year. On average, analysts predict that Coeur Mining will post $-1.09 earnings per share for the current fiscal year.
Coeur Mining, Inc, formerly Coeur d’Alene Mines Corporation, is a silver producer with gold production and has assets located in the United States, Mexico, Bolivia, Argentina and Australia.
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