Raymond James upgraded Coeur Mining (CDE) to Outperform from Market Perform with a price target of $8.25, down from $8.75, following the Q4 report. The company announced the completion of its acquisition of SilverCrest Metals, the analyst tells investors in a research note. The firm updated estimates post the deal and Q4 report, saying Coeur has a diversified portfolio of four mines with lower jurisdictional risk and growth. The company has an aggressive exploration budget to improve its reserve life, adds Raymond James.
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Read More on CDE:
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- Coeur Mining expects to generate negative free cash flow in Q1
- Coeur Mining reports Q4 adjusted EPS 11c, consensus 14c
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