Cantor Fitzgerald Downgrades Coeur d'Alene Mines (CDE) to Hold, Following Earnings

Cantor Fitzgerald analyst Mike Kozak downgraded Coeur d'Alene Mines (NYSE: CDE) from Buy to Hold with a price target of $5.00 (from $8.00).

Analyst says: "CAPEX has increased considerably at the Rochester expansion project, Proven & Probable reserves for gold and silver on a company-wide basis were flat-to-down, and 2022 cost guidance disappointed. Incorporating the 2022 production and cost guidance and higher CAPEX at Rochester drives a target price reduction from $8.00/share to $5.00/share on Coeur Mining. This is based on an unchanged equally blended target multiple of 1.5x NAVPS and 15.0x 2022E CFPS. Given the modest return to our lowered target, we are downgrading our rating from Buy to Hold."

For an analyst ratings summary and ratings history on Coeur d'Alene Mines click here. For more ratings news on Coeur d'Alene Mines click here.

Shares of Coeur d'Alene Mines closed at $5.34 yesterday.

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