Dundee Capital Markets Rates Coeur Mining as “Sell”

Mineweb reported that Dundee Capital Markets expects the 2013 production results of most silver companies to be “in-line with guidance.” Coeur Mining Inc. (TSX:CDM,NYSE:CDE), however, may miss its 2013 silver production guidance.

As quoted in the market news:

‘During the first 9M of 2013, the company’s Rochester mine produced 2.1Mozs of silver, leaving 1.6Mozs to produce in Q4 at the low-end of guidance at that mine,’ the analysts observed. ‘We expect the company to miss guidance at Rochester and therefore we forecast full-year 2013 silver production of 17.7Moz versus the guided range of 18.0-19Moz.’ Dundee rated Coeur Mining as ‘Sell’ with a target of Cdn$9.

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