UPDATE: Raymond James Initiates Coverage on Coeur Mining on Emerging Turnaround Story

In a report published Thursday, Raymond James analyst Chris Thompson initiated coverage on Coeur Mining CDE with an Outperform rating and $18.00 price target. In the report, Raymond James noted, “We are initiating coverage on Coeur Mining Inc. (CDE-NYSE | CDM-TSX) with an Outperform rating and an $18.00 target price. We see CDE as an emerging turnaround story, on the cusp of a renaissance having just completed an aggressive 5-year phase of mine building and development. Although operational challenges have plagued CDE in the past, we see the beginnings of operational consistency from the company and anticipate a re-awakening of market confidence in CDE which, we feel, will catalyze share price appreciation through multiple expansion (CFPS & NAV).” Coeur Mining closed on Wednesday at $14.49.