Coeur Mining reinstated with a Market Perform at BMO Capital

BMO Capital analyst Kevin O’Halloran reinstated coverage of Coeur Mining with a Market Perform rating and $2.75 price target. The analyst sees value in the shares due to the company’s production growth profile at Rochester in the near term and Silvertip longer term. However, Coeur’s high debt levels are amplified by the ongoing Rochester mine expansion, and the market will require more certainty on the timing and magnitude of cash flows from the Rochester expansion before a significant re-rating oft the shares would occur, the analyst tells investors in a research note.