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Coeur d’Alene Mines Corporation’s (CDE) Price Target Lowered
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Posted on 02/09/10 at 2:53pm by Ed Liston
Analysts Michael Curran and Richard Bishop at RBC Capital Markets have lowered the price target for Coeur d’Alene Mines Corporation (NYSE: CDE). The price target has been lowered from $24 to $19.
The company had retired $175 million of debt in 2009. However, the company had to raise $100 million from the debt market again to ensure that the capital spending plans for 2010 are met.
The company also reported poor results for the third-quarter. Analysts expect the company to report better results for the fourth-quarter, but still below its full potential. Analysts at RBC Capital Markets have maintained an Underperform rating for Coeur d’Alene Mines Corporation.
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