Coeur Mining upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Michael Siperco upgraded Coeur Mining to Outperform from Sector Perform with an unchanged price target of $4. The expansion at Rochester is almost complete, and execution on the ramp up through mid-2024 is the key catalyst for the stock, the analyst tells investors in a research note. The firm cites higher price forecasts, the diminishing risk of further capex inflation, and the stock’s relative value versus peers for the upgrade.