Coeur Mining Inc. (CDE) Sees Significant Decrease in Short Interest
Coeur Mining Inc. (NYSE:CDE) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 8,683,461 shares, a decline of 36.8% from the September 15th total of 13,738,316 shares. Based on an average daily volume of 8,053,504 shares, the short-interest ratio is currently 1.1 days. Approximately 5.4% of the company’s shares are short sold.
Shares of Coeur Mining (NYSE:CDE) opened at 10.84 on Tuesday. The company’s market capitalization is $1.76 billion. Coeur Mining has a 12-month low of $1.62 and a 12-month high of $16.41. The firm has a 50-day moving average price of $12.29 and a 200 day moving average price of $10.78.
Coeur Mining (NYSE:CDE) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. The business earned $182 million during the quarter, compared to analyst estimates of $173.92 million. Coeur Mining had a negative return on equity of 8.38% and a negative net margin of 49.17%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned ($0.11) EPS. On average, equities research analysts predict that Coeur Mining will post $0.35 earnings per share for the current year.
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Several research firms have recently issued reports on CDE. Vetr cut Coeur Mining from a “strong-buy” rating to a “buy” rating and set a $11.10 target price on the stock. in a research note on Monday. Roth Capital reissued a “buy” rating on shares of Coeur Mining in a research note on Monday, June 27th. Zacks Investment Research cut Coeur Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Deutsche Bank AG raised Coeur Mining from a “sell” rating to a “hold” rating and boosted their target price for the company from $7.50 to $11.00 in a research note on Monday, October 3rd. Finally, Barclays PLC boosted their target price on Coeur Mining and gave the company an “outperform” rating in a research note on Monday, June 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $8.83.
In other Coeur Mining news, CFO Peter C. Mitchell sold 16,157 shares of Coeur Mining stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $15.88, for a total value of $256,573.16. Following the transaction, the chief financial officer now directly owns 270,260 shares of the company’s stock, valued at approximately $4,291,728.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hans John Rasmussen sold 3,477 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $15.00, for a total value of $52,155.00. The disclosure for this sale can be found here. 1.53% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of CDE. Societe Generale bought a new stake in Coeur Mining during the second quarter valued at about $106,000. SG Americas Securities LLC acquired a new stake in shares of Coeur Mining during the second quarter valued at $106,000. Nuveen Asset Management LLC acquired a new stake in shares of Coeur Mining during the second quarter valued at $108,000. Ameritas Investment Partners Inc. increased its stake in shares of Coeur Mining by 13.5% in the second quarter. Ameritas Investment Partners Inc. now owns 11,907 shares of the company’s stock valued at $127,000 after buying an additional 1,415 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of Coeur Mining during the second quarter valued at $130,000. 69.43% of the stock is owned by institutional investors and hedge funds.
About Coeur Mining
Coeur Mining, Inc is a gold and silver producer. The Company’s segments include Palmarejo complex, Rochester, Kensington, Wharf and San Bartolome mines, and Coeur Capital. The Company also a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand.
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