Coeur Mining praised for new gold streaming agreement but shares flat


Coeur Mining (CDE -0.1%) isn't getting help from some positive analyst reports today; Sterne Agee reiterates its Buy rating and awards shares a Street-high $18 price target, BMO upgrades CDE to Market Perform from Underperform and raises its price target to $9.50 from $7, and Cowen lifts its target to $10.49 from $9.42.

Sterne Agee calls CDE its favorite silver-oriented equity, and believes the new gold streaming agreement with Franco Nevada will improve the economics of the Palmarejo mine; together with the decision to place Guadalupe into production, it should result in extended mine life and significantly higher asset value for Palmarejo.

BMO thinks the changes to the streaming agreement will reduce CDE's production costs and raise its cash flow.

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