UPDATE: Global Hunter Securities Initiates Coeur d'Alene Mines at Accumulate on Turnaround Outlook
Global Hunter Securities initiated coverage on Coeur d`Alene Mines (NYSE: CDE) with an Accumulate rating and a $28 price target.
Global Hunter Securities commented, "Coeur d'Alene Mines (CDE) has completed a challenging year with ground stability issues at Palmarejo, claims disputes at Rochester, the shutdown of the Martha Mine and poor performance at Kensington. However, we see CDE as a company with the potential to mount a recovery over the next 12 months by getting back to basics and meeting production expectations. We believe that the underlying assets of CDE can perform at higher levels in the coming months."
Coeur d`Alene Mines closed at $22.63 on Wednesday.
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Tags: Global Hunter Securities