Coeur Mining upgraded at BMO Capital As noted earlier, BMO Capital upgraded Coeur Mining to Market Perform from Underperform . After the company entered into letters of intent to amend the Palmarejo gold streaming agreement with Franco-Nevada, the firm thinks the changes will reduce Coeur's production costs and raise its cash flow. Target to $9.50 from $7.
Coeur Mining downgraded to Underweight from Neutral at JPMorgan JPMorgan downgraded Coeur Mining to Underweight citing the company's exposure to weak silver prices. The firm believes Coeur may have to further write-down its reserves should silver prices stay near the current $16.50/oz level. JPMorgan removed its $5 price target for shares.