Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Coeur d'Alene Mines (NYSE: CDE) surged as much as 13% in intraday trading Tuesday after Deutsche Bank upgraded the silver miner from hold to buy.

So what: Based on a forecast silver price of $50/oz in 2012, Deutsche Bank also offered a price target of $54 on Coeur d'Alene, representing a whopping 120% worth of upside to yesterday's close. With a prediction as bullish as that, it's no surprise that other silver plays, like Silvercorp (NYSE: SVM), Endeavour Silver (AMEX: EXK), and Silver Standard Resources (Nasdaq: SSRI), are all up handsomely, as well.

Now what: I'd wait for Coeur d'Alene to calm down before jumping in. With today's double-digit surge, the shares are up a massive 250% over the past two years and have returned more than 80% in the past six months alone. Growing global industrial demand for silver could certainly propel Coeur d'Alene higher, but given its large debt load, Fools might want to focus on the stock's downside a little more than Mr. Market seems to be.

Interested in more info on Coeur d'Alene? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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