UPDATE: BMO Capital Markets Downgrades Coeur D'Alene Mines to Market Perform Post 2013 Forecasts

BMO Capital Markets downgraded Coeur d'Alene Mines Corporation

from Outperform to Market Perform and lowered the price target from $31.00 to $29.00. BMO Capital Markets noted, "2013E production forecasts are generally in line with BMO Research expectations and highlight CDE plans to increase production rates at the Rochester mine through 2013. While production expansion at Rochester is positive, higher operating costs at the company's other operations has lowered near-term forecasts with BMO 2013E EPS and CFPS estimates declining 34% and 15%, respectively. Revised operating costs have increased co-product cash costs by 13% to US$17.55/oz. The changes have resulted in a 14% decline in the BMO Research 10% nominal NPV to US$17.27." Coeur D'Alene Mines closed at $24.62 on Friday.