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Coeur Mining
(NYSE:CDE)
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Rating:77Outperform
Price Target:
$20.00
â–²(32.19% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by sharply improved financial performance (strong TTM profitability and free cash flow) and a supportive earnings outlook with strong liquidity and capital returns. This is tempered by mixed technicals (negative MACD and below longer-term moving averages) and execution/cost risks highlighted on the call (ramp delays, cost inflation, higher CapEx, and acquisition accounting noise).
Positive Factors
Cash generation
Sustained operating and free cash flow at the TTM scale provides durable internal funding for sustaining and growth capex, exploration, buybacks and dividends. Strong cash conversion (FCF ~79% of net income TTM) gives flexibility through commodity cycles and reduces reliance on external financing.
Negative Factors
Operational execution risk
Persistent ramp delays and contractor execution gaps at key growth assets create durable delivery risk for forecast volumes and unit costs. Slower throughput and staged recoveries can depress mine-level free cash flow and require incremental capex/opex to remediate over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained operating and free cash flow at the TTM scale provides durable internal funding for sustaining and growth capex, exploration, buybacks and dividends. Strong cash conversion (FCF ~79% of net income TTM) gives flexibility through commodity cycles and reduces reliance on external financing.
Read all positive factors
Coeur Mining (CDE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.37B
Dividend Yield0.13%
Average Volume (3M)39.10M
Price to Earnings (P/E)11.9
Beta (1Y)2.12
Revenue Growth116.56%
EPS Growth325.61%
CountryUS
Employees2,620
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)1.26
Shares Outstanding1,030,520,800
10 Day Avg. Volume28,577,364
30 Day Avg. Volume39,097,810
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)3.42
Price to Sales (P/S)5.47
P/FCF Ratio17.02
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$22.50Price Target Upside48.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)1.46
Revenue Forecast (FY)$5.22B
Coeur Mining Business Overview & Revenue Model
Company Description
Coeur Mining, Inc. is a company primarily focused on the exploration and development of precious metal deposits across North America, with operations spanning the United States, Canada, and Mexico. The company's key activities involve discovering ...
How the Company Makes Money
Coeur Mining makes money primarily by producing and selling refined metal (or metal-bearing concentrate/doré) from its mining operations. Its core revenue stream is the sale of gold and silver produced from ore mined at its operating sites; realiz...
Coeur Mining Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive picture driven by record revenue, EBITDA and free cash flow, a strengthened balance sheet with >$1.1B cash and >$2B liquidity, meaningful contributions from newly acquired Canadian assets, strong operational milestones (e.g., Rochester crushing record) and active capital returns. Offsetting items are operational ramp timing issues at New Afton and Rainy River, temporary lower grades at several mines, noncash acquisition accounting impacts that inflate near-term reported costs and EBITDA, and some cost inflation and incremental capital needs. Management presented clear remediation plans and timing for ramp-ups and expects many headwinds to abate in the third and fourth quarters, supporting a constructive outlook.Positive Updates
Record Quarterly Revenue
Revenue reached $1.1 billion in Q2, marking the first time quarterly revenue passed $1 billion and representing a 27% increase quarter-over-quarter.
Negative Updates
Lower-than-Planned Grades
Several operations experienced below-planned grades in Q2 (Kensington, Rochester, Palmarejo and portions of New Afton), creating headwinds to production; management expects grades to rebound in the second half of the year.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue
Revenue reached $1.1 billion in Q2, marking the first time quarterly revenue passed $1 billion and representing a 27% increase quarter-over-quarter.
Read all positive updates
Company Guidance
The company reiterated a materially second‑half weighted outlook for 2026, guiding to approximately $2.3 billion of EBITDA and ~$1.5 billion of free cash flow on updated metal price assumptions of $4,000/oz gold, $60/oz silver and $6.00/lb copper; Q2 set several records (revenue $1.1B, EBITDA $478M despite a ~$140M Q2 non‑cash fair‑value uplift charge, and free cash flow $388M or >$4M/day), cash at June 30 of $1.1B (liquidity >$2B), and buyback/dividend actions (expanded $750M buyback program, $110M repurchased through June 30, inaugural $0.02 dividend, $39M capital lease debt retired). Management disclosed acquisition accounting charges of $244M (Rainy River) and $20M (New Afton) in total (≈$85M hit in Q1, ~$140M in Q2, ~$38M remaining expected in Q3) that materially inflated CAS (Rainy River Q2 uplift = $2,036/oz of a $3,790/oz site CAS; consolidated uplift = $834/oz of a $2,440/oz consolidated CAS). Operationally, Rochester crushed a record 6.8M tonnes in Q2 (↑15% QoQ; ~97% through all three crushers) with Phase IIa leach pad >4M tonnes placed to July (Series IIb on track for Q4); New Afton averaged ~12k tpd in Q2, hit 14k tpd in late July and targets 16k tpd early Q4; Rainy River underground averaged ~2.3k tpd in Q2, rose to ~3.3k tpd in July and targets 5k tpd by year‑end (Q2 mine‑level FCF $123M), while company‑wide 2026 operating costs are expected to rise ~10% (~$30M) and CapEx was adjusted to include +$45M of Phase‑5 capitalized stripping and +$25M of underground-related spend at Rainy River plus +$15M at Silvertip for a PFS.Coeur Mining Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.17B | 2.07B | 1.05B | 821.21M | 785.64M | 832.83M |
| Gross Profit | 1.60B | 813.47M | 415.41M | 133.67M | 138.46M | 283.34M |
| EBITDA | 1.59B | 985.56M | 325.61M | 76.87M | 83.47M | 213.69M |
| Net Income | 850.41M | 585.87M | 58.90M | -103.61M | -78.11M | -31.32M |
Balance Sheet | ||||||
| Total Assets | 15.20B | 4.70B | 2.30B | 2.08B | 1.85B | 1.73B |
| Cash, Cash Equivalents and Short-Term Investments | 1.05B | 553.60M | 55.09M | 61.63M | 93.50M | 56.66M |
| Total Debt | 713.16M | 365.43M | 601.66M | 555.28M | 527.49M | 498.80M |
| Total Liabilities | 4.79B | 1.38B | 1.18B | 1.06B | 957.13M | 934.16M |
| Stockholders Equity | 10.41B | 3.31B | 1.12B | 1.02B | 889.02M | 800.26M |
Cash Flow | ||||||
| Free Cash Flow | 1.16B | 665.72M | -8.95M | -297.33M | -326.74M | -199.30M |
| Operating Cash Flow | 1.47B | 886.88M | 174.23M | 67.29M | 25.62M | 110.48M |
| Investing Cash Flow | -190.35M | -127.84M | -193.51M | -303.70M | -146.16M | -304.08M |
| Financing Cash Flow | -331.68M | -260.63M | 13.89M | 236.05M | 125.03M | 158.14M |
Coeur Mining Technical Analysis
Negative
15.13
Price Trends
16.44
Negative
17.55
Negative
18.55
Negative
Market Momentum
-0.10
Negative
49.00
Neutral
75.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDE, the sentiment is Negative. The current price of 15.13 is below the 20-day moving average (MA) of 15.42, below the 50-day MA of 16.44, and below the 200-day MA of 18.55, indicating a neutral trend. The MACD of -0.10 indicates Negative momentum. The RSI at 49.00 is Neutral, neither overbought nor oversold. The STOCH value of 75.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CDE.
Coeur Mining Risk Analysis
Coeur Mining disclosed 42 risk factors in its most recent earnings report. Coeur Mining reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Coeur Mining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $15.37B | 11.93 | 14.48% | 0.13% | 116.56% | 325.61% | |
76 Outperform | $9.47B | 34.44 | 12.98% | 0.09% | 56.81% | 525.85% | |
73 Outperform | $9.97B | 10.06 | 32.51% | 2.46% | 31.10% | 57.19% | |
70 Outperform | $355.57M | 5.82 | 24.36% | 3.00% | 40.20% | 141.58% | |
67 Neutral | $1.76B | 1.99 | 32.58% | 2.51% | 32.68% | 91.90% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
45 Neutral | $6.16B | -19.61 | -12.94% | 3.72% | 19.11% | 27.86% |
* Basic Materials Sector Average
CDE
Coeur Mining
15.65
4.38
38.90%
DRD
Drdgold
22.48
6.89
44.19%
HMY
Harmony Gold Mining
18.05
2.53
16.31%
HL
Hecla Mining Company
15.86
8.65
119.94%
SBSW
Sibanye Stillwater
9.89
1.34
15.65%
CMCL
Caledonia Mining
20.32
-1.92
-8.62%
Coeur Mining Corporate Events
Business Operations and StrategyExecutive/Board ChangesDividendsShareholder Meetings
Coeur Mining Initiates First Dividend and Governance Updates
Positive
May 13, 2026
Coeur Mining announced on May 13, 2026 that longtime finance executive Kenneth J. Watkinson plans to retire in early 2027, with Anne Beckelheimer set to assume the roles of senior vice president, tax, corporate controller and chief accounting offi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.