UPDATE: Deutsche Bank Downgrades Coeur d'alene Mines

In a note released Monday morning, analysts at Deutsche Bank downgraded shares of Coeur d'Alene Mines CDE from Buy to Hold and lowered the price target from $13 to $11.

The team at Deutsche Bank stated that the downgrade is based on valuation.

However, the analysts did note that production at the La Preciosa project in Mexico, the principle asset of recently acquired Orko Silver, is likely to be deferred.