Coeur Mining (CDE) AI Stock Analysis

• Market Cap: $14.51B
• Dividend Yield: N/A
• Average Volume (3M): 26.83M
• Price to Earnings (P/E): 26.1
• Beta (1Y): 1.90
• Revenue Growth: 72.94%
• EPS Growth: N/A
• Country: US
• Employees: 2,116
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.35
• Shares Outstanding: 642,106,570
• 10 Day Avg. Volume: 20,812,419
• 30 Day Avg. Volume: 26,828,760
• PEG Ratio: 0.04
• Price to Book (P/B): 3.42
• Price to Sales (P/S): 5.47
• P/FCF Ratio: 17.02
• Enterprise Value/Market Cap: 1.08
• Enterprise Value/Revenue: 7.60
• Enterprise Value/Gross Profit: 15.01
• Enterprise Value/Ebitda: 15.82
• 1Y Price Target: $26.40
• Price Target Upside: 7.19% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 2.01
• Revenue Forecast (FY): $4.60B

• Rating: 76 Outperform
• Price Target: $26.00 ▲(5.56% Upside)
• Action: Reiterated Date: 02/19/26
• Date: Action: Reiterated 02/19/26

The score is driven primarily by the sharp improvement in 2025 financial performance (profitability and free cash flow) and a constructive earnings outlook from management. Technicals support an ongoing uptrend but with neutral near-term momentum, while valuation is the main constraint given the higher P/E and lack of dividend support.

Positive Factors

Materially strengthened balance sheet

Reporting zero total debt in 2025 and a much larger equity base materially improves financial flexibility. That stronger capital structure reduces refinancing and solvency risk, enabling funding for capex, exploration and M&A and cushioning the business across commodity cycles.

Robust free cash flow generation

Sustained operating cash flow and a large positive free cash flow in 2025 provide durable internal funding for higher exploration, sustaining capital, and deleveraging. For a capital‑intensive miner, persistent FCF capacity materially strengthens long‑term investment and payout optionality.

Scale gains and reserve/resource growth

Significant production increases across multiple mines plus reserve and inferred resource growth extend mine life and diversify cash flows. Higher scale and improved resources underpin multi‑year production visibility and the ability to absorb grade or price volatility.

Negative Factors

Historically volatile earnings and cash flow

The sharp 2025 FCF turnaround follows several years of negative or near‑breakeven cash flow and episodic losses. This history shows strong sensitivity to grades, recoveries and metal prices, meaning the current improvement may be cyclical rather than structurally durable without consistent operational execution.

Operational disruptions and recovery sensitivity

A significant Wharf crusher fire with repairs into Q2 and ongoing Rochester recovery/crush‑size sensitivity create multi‑quarter production and recovery risk. Such operational issues directly depress throughput, recoveries and margins, challenging sustained cash generation until resolved.

M&A execution, legal and governance risks

The planned New Gold combination faces litigation, disclosure supplements and expanded authorized shares, creating execution and timing risk. These issues can delay integration, cause dilution, restrict buybacks and create governance uncertainty that affects strategic outcomes over the coming quarters.

Coeur Mining Business Overview & Revenue Model

Company Description

Coeur Mining, Inc. explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It holds 100% interests in the Palmarejo gold and silver mine covering an area of approximately 67,296 net acres located in the State of Chihuahua in Northern Mexico; the Rochester silver and gold mine that covers an area of approximately 43,441net acres situated in northwestern Nevada; the Kensington gold mine comprising 3,972 net acres located to the north of Juneau, Alaska; the Wharf gold mine covering an area of approximately 3,243 net acres situated in the northern Black Hills of western South Dakota; and the Silvertip silver-zinc-lead mine comprising 97,298 net acres located in northern British Columbia, Canada. In addition, the company owns interests in the Crown and Sterling projects located in southern Nevada; and the La Preciosa project located in Mexico. Further, it markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc. in May 2013.Coeur Mining, Inc. was incorporated in 1928 and is headquartered in Chicago, Illinois.

How the Company Makes Money

Coeur Mining generates revenue primarily through the sale of silver and gold bullion, which is produced from its mining operations. The company has a well-defined revenue model that includes direct sales of mined metals to precious metals traders, refiners, and other customers. Key revenue streams include the sale of doré bars, which are semi-pure alloyed metals that contain gold and silver, and the sale of concentrate products. Additionally, Coeur Mining benefits from fluctuations in precious metal prices, as higher market prices can significantly enhance profit margins. The company also engages in strategic partnerships and collaborations, which may include joint ventures with other mining firms or agreements for equipment and technology sharing, further contributing to its overall earnings. Factors such as operational efficiency, cost management, and the successful exploration of new mineral resources also play a crucial role in driving the company’s financial performance.

Coeur Mining Financial Statement Overview

Summary

Strong 2025 turnaround with sharply higher revenue growth, materially improved profitability, and a major shift to positive free cash flow. Balance sheet appears significantly stronger (reported debt reduced to zero and equity higher), but the unusually large year-over-year balance sheet shifts and historically volatile earnings/cash flow reduce confidence in sustainability.

Income Statement

Revenue growth accelerated sharply in 2025 (up 21.7% YoY) after steady expansion in 2023–2024. Profitability improved materially, with net margin rising to ~28.3% in 2025 versus ~5.6% in 2024 and losses in 2022–2023, indicating a strong earnings inflection. Key weakness: results have been volatile across the cycle (losses in multiple prior years), and 2025 shows inconsistent profitability detail (e.g., reported gross profit/gross margin at zero), which reduces confidence in the quality/consistency of the margin profile.

Balance Sheet

Leverage improved meaningfully, with total debt reported at 0 in 2025 versus ~$602M in 2024, driving debt-to-equity from ~0.54 to 0.0 and materially strengthening financial flexibility. Equity also expanded substantially (to ~$4.22B in 2025 from ~$1.12B in 2024), supporting a much stronger capital base. Main risk: the step-change in debt and equity is unusually large year-over-year and could reflect major transactions or reporting classification changes; additionally, prior years show moderate leverage (debt-to-equity ~0.42–0.62), so the balance sheet strength is relatively recent.

Cash Flow

Cash generation strengthened dramatically in 2025 with operating cash flow of ~$887M and free cash flow of ~$666M, reversing the negative free cash flow seen in 2021–2024. Free cash flow grew ~80.6% in 2025 and covered net income at ~75%, suggesting earnings are supported by cash. Weakness: cash flow has been highly volatile historically (large negative free cash flow in 2022–2023 and near-breakeven in 2024), which is typical for miners but increases execution and commodity-cycle risk.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.07B	1.05B	821.21M	785.64M	832.83M
Gross Profit	813.47M	415.41M	133.67M	138.46M	283.34M
EBITDA	1.02B	325.61M	77.51M	83.47M	213.69M
Net Income	585.87M	58.90M	-103.61M	-78.11M	-31.32M
Balance Sheet
Total Assets	4.70B	2.30B	2.08B	1.85B	1.73B
Cash, Cash Equivalents and Short-Term Investments	553.60M	55.09M	61.63M	93.50M	56.66M
Total Debt	365.43M	601.66M	555.28M	527.49M	498.80M
Total Liabilities	1.38B	1.18B	1.06B	957.13M	934.16M
Stockholders Equity	3.31B	1.12B	1.02B	889.02M	800.26M
Cash Flow
Free Cash Flow	665.72M	-8.95M	-297.33M	-326.74M	-199.30M
Operating Cash Flow	886.88M	174.23M	67.29M	25.62M	110.48M
Investing Cash Flow	-127.84M	-193.51M	-303.70M	-146.16M	-304.08M
Financing Cash Flow	-260.63M	13.89M	236.05M	125.03M	158.14M

Coeur Mining Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 24.63
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDE, the sentiment is Positive. The current price of 24.63 is above the 20-day moving average (MA) of 22.72, above the 50-day MA of 20.83, and above the 200-day MA of 14.91, indicating a bullish trend. The MACD of 0.72 indicates Negative momentum. The RSI at 58.93 is Neutral, neither overbought nor oversold. The STOCH value of 88.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CDE.

Coeur Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HMY	78 Outperform	$12.68B	15.82	32.05%	0.87%	29.08%	72.12%
CMCL	77 Outperform	$546.75M	10.82	20.25%	2.06%	38.04%	424.35%
CDE	76 Outperform	$14.51B	26.14	26.41%	―	72.94%	―
DRD	73 Outperform	$2.91B	16.37	34.09%	1.02%	30.05%	73.40%
HL	66 Neutral	$14.76B	44.96	13.89%	0.07%	45.61%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SBSW	49 Neutral	$11.19B	-55.93	-12.14%	―	6.27%	93.14%

Coeur Mining Corporate Events

Coeur Mining Advances New Gold Acquisition and Board Changes

In 2025, Coeur Mining, Inc. nearly doubled revenue to $2.07 billion and grew net income from continuing operations to $586 million, driven by record gold and silver production, higher realized prices and disciplined costs, according to results released on February 18, 2026. The company generated record free cash flow, moved into a net cash position by sharply increasing cash and reducing debt, and reported strong contributions from its Rochester, Las Chispas and Kensington operations.

On January 27, 2026, shareholders of Coeur and New Gold overwhelmingly approved Coeur’s planned acquisition of New Gold, prompting Coeur’s board on February 17, 2026 to conditionally appoint New Gold’s CEO Patrick Godin and director Marilyn Schonberner as Coeur directors, while director N. Eric Fier resigned effective February 16, 2026 for other business pursuits. Coeur also issued a new technical report summary for its Wharf Mine and outlined 2026 production guidance that underscores expected record results from its current portfolio ahead of the anticipated first-half 2026 closing of the New Gold deal, which is intended to cement Coeur’s status as a leading all-North American precious metals miner.

The most recent analyst rating on (CDE) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Coeur Mining stock, see the CDE Stock Forecast page.

Coeur Mining Shareholders Approve New Gold Combination Plans

On January 27, 2026, Coeur Mining held a special meeting of stockholders to vote on matters related to its previously announced strategic business combination with New Gold Inc. under a plan of arrangement governed by British Columbia corporate law. Shareholders representing about 70% of Coeur’s outstanding common stock were present, and they approved an amendment to increase the company’s authorized common shares from 900 million to 1.3 billion, as well as the issuance of Coeur shares to New Gold shareholders in connection with the transaction, with both proposals receiving over 96% of votes cast. The approvals clear key corporate and capital-structure hurdles for Coeur, enabling it to proceed with the New Gold combination, which is expected to expand Coeur’s scale and influence in the North American precious metals market and has implications for ownership dilution and strategic positioning for existing shareholders.

The most recent analyst rating on (CDE) stock is a Hold with a $29.00 price target. To see the full list of analyst forecasts on Coeur Mining stock, see the CDE Stock Forecast page.

Coeur Mining Faces Lawsuits Over New Gold Merger

On November 2, 2025, Coeur Mining, Inc. agreed a strategic business combination with Canada’s New Gold Inc. via a court-approved plan of arrangement, under which Coeur plans to issue its common stock to New Gold shareholders, subject to approvals at a special shareholders’ meeting scheduled for January 27, 2026. Ahead of that vote, Coeur has been hit with two shareholder lawsuits in New York, filed on January 6 and January 8, 2026, along with additional stockholder demand letters, alleging that its definitive proxy statement omits or misrepresents material information about the deal and seeking to block completion of the transaction and recover damages; while Coeur maintains the claims are without merit, it is voluntarily supplementing its proxy disclosures—particularly around financial advisor analyses, valuation multiples, projections and analyst targets—to neutralize the disclosure challenges, limit legal and timing risks, and keep the planned combination with New Gold on track.

The most recent analyst rating on (CDE) stock is a Buy with a $24.00 price target. To see the full list of analyst forecasts on Coeur Mining stock, see the CDE Stock Forecast page.