argus upgrades cxc

Market Report -- Short Stories (CDE)May 14, 2009 9:35 AM ET advertisement

Coeur d'Alene Mines upgraded to Hold at Argus . Argus upgrades CDE to Hold from Sell as they believe that CDE is one of the better-positioned cos in the silver mining sector and is beginning to benefit from better production levels and better pricing. The firm notes that silver prices appear to have bottomed, and they think the recent rebound is sustainable. Furthermore, the firm believes that industrial demand, which accounts for 54% of total silver demand, will improve towards the end of the year. Additionally, concerns about the co's short-term funding have faded and Coeur no longer has the huge cash burden of capital investments, with its newest mines, San Bartolome in Brazil and Palmarejo in Mexico, up and running near full capacity.


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