Buying Buzz: Coeur Mining Inc. [CDE] Chairman (non-executive) MELLOR ROBERT E acquires 1,000 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Coeur Mining Inc. shares valued at $4,507 were purchased by MELLOR ROBERT E on Mar 01. At $4.51 per share, MELLOR ROBERT E acquired 1,000 shares. The insider’s holdings grew to 206,019 shares worth approximately $0.65 million following the completion of this transaction.


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Also, Routledge Michael purchased 11,760 shares, netting a total of over 50,086 in proceeds. Following the buying of shares at $4.26 each, the insider now holds 189,128 shares.

Before that, Whelan Thomas S had added 10,000 shares to its account. In a trade valued at $42,490, the SVP & CFO bought Coeur Mining Inc. shares for $4.25 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $1.29 million.

As published in a research note from Canaccord Genuity on February 17, 2022, Coeur Mining Inc. [CDE] has been rated down from a Buy to a Hold and the price target has been revised to $4.75. This represents a 33.26% premium over Thursday’s closing price. Analysts at Noble Capital Markets upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in late January. Earlier on April 30, 2021, Canaccord Genuity upgraded its rating. Their new recommendation was “a Buy” for CDE stock which previously was a “a Speculative buy”.

Analyzing CDE’s Price Performance

On Thursday, Coeur Mining Inc. [NYSE: CDE] rose 4.28% to $3.17. The stock’s lowest price that day was $2.88, but it reached a high of $3.22 in the same session. During the last five days, there has been a surge of approximately 4.62%. Over the course of the year, Coeur Mining Inc. shares have dropped approximately -37.10%. Shares of the company reached a 52-week high of $5.54 on 01/20/22 and a 52-week low of $2.54 on 07/25/22. A 50-day SMA is recorded $3.31, while a 200-day SMA reached $4.59. Nevertheless, trading volume fell to 5.8 million shares from 3.4 million shares the previous day.

Support And Resistance Levels for Coeur Mining Inc. (CDE)

According to the 24-hour chart, there is a support level at 2.96, which, if violated, would cause prices to drop to 2.75. In the upper region, resistance lies at 3.30. The next price resistance is at 3.43. RSI (Relative Strength Index) is 54.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.17, which suggests the price will decrease in the coming days. Percent R is at 10.00%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Coeur Mining Inc. subject to short interest?

Stocks of Coeur Mining Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.42 million shares to 18.42 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 19.84 million shares. A decline of -7.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.43 of the overall float, the days-to-cover ratio (short ratio) decline to 3.43.

Which companies own the most shares of Coeur Mining Inc. (CDE)?

According to SSgA Funds Management, Inc. filings, the company currently owns 27,794,163 shares, which is about 9.90% of the total CDE shares outstanding. The investor’s shares have appreciated by 10,035,506 from its previous 13-F filing of 17758657.0 shares. With the completion of the buy transaction, Van Eck Associates Corp.’s stake is now worth $72,692,939. The Vanguard Group, Inc. acquire a 0.87% interest valued at $67.44 million while BlackRock Fund Advisors purchased a 334,480 stake. A total of 1,856,000 shares of Coeur Mining Inc. were bought by Baker Steel Capital Managers LLP during the quarter, and 1,128,839 were bought by Dimensional Fund Advisors LP. In its current portfolio, D. E. Shaw & Co. LP holds 5,010,040 shares valued at $15.23 million.

In terms of Coeur Mining Inc. share price expectations, FactSet research, analysts set an average price target of $4.59 in the next 12 months, up nearly 44.08% from the previous closing price of $3.04. Analysts anticipate Coeur Mining Inc. stock to reach $6.50 by 2022, with the lowest price target being $3.00. In spite of this, 8 analysts ranked Coeur Mining Inc. stock as an Overweight at the end of 2022.

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