Coeur Mining (CDM1) Q3 2026 Earnings Report

The call was predominantly positive. Management highlighted sharp year-over-year growth, record or improving performance at several operations, strong liquidity, significant shareholder returns and a favorable fourth-quarter and 2027 outlook. These positives were tempered by operational disruptions from weather and the New Afton conveyor failure, slower Rochester silver recovery, lower realized precious-metals prices, inflationary pressures and production expected near the low end of guidance.

Coeur expects to end the year around the low end of its production guidance ranges for gold, silver and copper, with full year adjusted EBITDA exceeding $2 billion and free cash flow topping $1.3 billion, assuming current prices; adjusted cost applicable to sales is expected to be near the upper end of guidance, while cash taxes, capital expenditures, amortization, exploration and G&A are all trending toward the low end of their respective guidance ranges. Fourth-quarter gold and silver production would increase 29% and 36% quarter-over-quarter, respectively, with New Afton sustaining the 16,000 tonne per day target, Rainy River targeting 5,000 tonnes per day by year-end, Kensington reaching up into the 30,000 ounce range territory, and Wharf expected to deliver its strongest quarter of the year; the company anticipates another record year in 2027.