Coeur Mining Upgraded: Analyst Dives Deep Into Prospects Of Rochester Mine In Nevada
Portfolio Pulse from Nabaparna Bhattacharya
RBC Capital Markets analyst Michael Siperco has upgraded Coeur Mining, Inc (NYSE:CDE) from Sector Perform to Outperform, maintaining a price target of $4. The upgrade is based on the near completion of the expansion at Nevada's Rochester mine, which is expected to significantly increase production by 2025. The analyst also highlighted the diminishing risk of further capex inflation and the stock's relative value compared to its peers.
September 22, 2023 | 7:47 pm
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Coeur Mining, Inc (CDE) has been upgraded by RBC Capital Markets from Sector Perform to Outperform. The upgrade is driven by the nearing completion of the expansion at Nevada's Rochester mine, which is expected to significantly boost production by 2025.
The upgrade by RBC Capital Markets is a positive signal for Coeur Mining, Inc (CDE). The nearing completion of the expansion at Nevada's Rochester mine is expected to significantly boost production, which should positively impact the company's revenues and profitability. Additionally, the diminishing risk of further capex inflation is a positive factor for the company's financial health. These factors make the stock more attractive to investors, which could drive its price up in the short term.
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