CDE - Coeur Mining Upgraded: Analyst Dives Deep Into Prospects Of Rochester Mine In Nevada | Benzinga
RBC Capital Markets analyst Michael Siperco upgraded Coeur Mining, Inc (NYSE: CDE) from Sector Perform to Outperform, with an unchanged price target of $4.
The expansion at Nevada's Rochester mine is almost complete, and execution on the ramp-up through mid-2024 is the crucial catalyst for the stock, Siperco notes.
The site visit, which the analyst attended, highlighted the +$700 million investment in throughput expansion, which should lead to +120% higher production once at full capacity in 2025.
Siperco is bullish about the stock, highlighting higher price forecasts, the diminishing ...