UPDATE: BMO Capital Markets Upgrades Coeur D'Alene Mines to Outperform; Pullback Overdone

BMO Capital Markets raised its rating on Coeur D'Alene Mine CDE from Market Perform to Outperform with a reiterated $31 price target. BMO Capital Markets commented, "CDE's shares traded down 21% today after the company reported a Q3/12 EPS miss, resulting from: 1) lower production and higher costs at Palmarejo; and 2) higher costs at Kensington. … In BMO Research's view, market concerns that operational issues at Palmarejo are long lived and that Kensington costs are unlikely to come down are overdone and represent a buying opportunity given today's share price decline." Coeur D'Alene Mines closed at $24.10 on Tuesday.