Coeur Mining (CDE)
NYSE:CDE
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Coeur Mining
(NYSE:CDE)
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Rating:76Outperform
Price Target:
$23.00
▲(12.86% Upside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by sharply improved financial performance (strong margins and substantial free cash flow) and a highly positive earnings-call outlook (reaffirmed strong 2026 guidance plus buyback/dividend). These are tempered by mixed technical signals (slightly negative MACD and resistance near the 100DMA) and only moderate valuation support (P/E ~12 with no dividend yield provided).
Positive Factors
Robust free cash flow generation
Sustained, large free cash flow (TTM OCF $1.16B; FCF $915M) provides durable funding for sustaining/development capex, the $750M buyback, the inaugural dividend and debt servicing. High FCF coverage increases strategic optionality and resilience through commodity cycles.
Negative Factors
Cyclical earnings and cashflow volatility
Business remains commodity-price sensitive: historical losses and negative FCF in 2021–2023 show earnings and cash generation can reverse quickly. This cyclicality means margins and payback timelines are contingent on sustained metal prices and operating throughput.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust free cash flow generation
Sustained, large free cash flow (TTM OCF $1.16B; FCF $915M) provides durable funding for sustaining/development capex, the $750M buyback, the inaugural dividend and debt servicing. High FCF coverage increases strategic optionality and resilience through commodity cycles.
Read all positive factors
Coeur Mining (CDE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.34B
Dividend YieldN/A
Average Volume (3M)19.16M
Price to Earnings (P/E)12.1
Beta (1Y)2.03
Revenue Growth116.56%
EPS Growth325.61%
CountryUS
Employees2,116
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)1.25
Shares Outstanding1,034,510,700
10 Day Avg. Volume22,064,255
30 Day Avg. Volume19,163,450
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 Cap0.63
Enterprise Value/Revenue4.47
Enterprise Value/Gross Profit8.80
Enterprise Value/Ebitda8.44
Forecast
1Y Price Target
$27.00Price Target Upside32.48% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)1.85
Revenue Forecast (FY)$5.89B
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...
How the Company Makes Money
Coeur Mining makes money primarily by producing and selling precious metals—mainly gold and silver—generated from its operating mines. Revenue is recognized from metal sales, typically based on delivered quantities and prevailing market prices (of...
Coeur Mining Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call conveyed strong positive momentum driven by transformational M&A, record quarterly revenue and EBITDA, materially improved liquidity and a bold 2026 outlook (>$3B EBITDA, ~$2B free cash flow) and meaningful production growth (notably ~80% higher gold production expected). Major positives include integration progress, balance sheet strengthening, capital return policy, and safety accolades. Key near-term negatives are accounting-driven distortions (an $85M non-cash CAS uplift and a large deferred tax liability) and some seasonal/one-time operational and tax timing items that inflated reported CAS and produced choppiness in Q1 results. Management characterized many negatives as non-cash or one-time and expects operations and reported metrics to normalize across the back half of the year.Positive Updates
Record Quarterly Revenue and EBITDA
Revenue of $856 million in Q1 2026; record quarterly EBITDA of $475 million, which rose 12% versus Q4 and was nearly fourfold year-over-year, reflecting strong realized prices and the impact of recent acquisitions.
Negative Updates
Quarter-Specific and One-Time Charges (> $200M)
Q1 included over $200 million of quarter-specific and one-time items (Mexican tax payments, timing of interest, Rochester property tax, larger annual incentive payments, transaction costs) that materially affected Q1 results; many are nonrecurring but some items (e.g., Mexican taxes, interest timing) recur seasonally.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Quarterly Revenue and EBITDA
Revenue of $856 million in Q1 2026; record quarterly EBITDA of $475 million, which rose 12% versus Q4 and was nearly fourfold year-over-year, reflecting strong realized prices and the impact of recent acquisitions.
Read all positive updates
Company Guidance
Coeur reaffirmed 2026 guidance and expects, at mid‑points, roughly 750,000 oz of gold, >20 million oz of silver and nearly 60 million lbs of copper, driving more than $3 billion of EBITDA and ~$2 billion of free cash flow on 2026 budget prices (noting those numbers assume only nine months plus 11 days of contributions from New Afton and Rainy River); Q1 results included $856 million of revenue, $475 million of EBITDA and $267 million of free cash flow, cash & equivalents of $843 million (nearly 11x year‑ago) with cash up almost $300 million in the quarter, a net cash posture and a $1 billion revolver; the company launched a $750 million buyback and a $0.02 per‑share semiannual inaugural dividend, reiterated key assumptions such as diesel at $3.19/gal (~6% of OpEx; a 10% diesel rise ≈ $10M or ~1–2% CAS impact), and warned of an $85 million non‑cash PPA fair‑value uplift that increased reported CAS (company‑wide adjusted gold CAS would have been ~$689/oz lower absent that uplift); management also highlighted an expected ~80% increase in 2026 gold versus 2025, ~13% higher silver versus 2025, >30% of revenue from silver, 100% North American production and ~70% of revenue from the U.S. and Canada.Coeur Mining Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.57B | 2.07B | 1.05B | 821.21M | 785.64M | 832.83M |
| Gross Profit | 1.30B | 813.47M | 415.41M | 133.67M | 138.46M | 283.34M |
| EBITDA | 1.36B | 1.02B | 325.61M | 77.51M | 83.47M | 213.69M |
| Net Income | 799.28M | 585.87M | 58.90M | -103.61M | -78.11M | -31.32M |
Balance Sheet | ||||||
| Total Assets | 15.26B | 4.70B | 2.30B | 2.08B | 1.85B | 1.73B |
| Cash, Cash Equivalents and Short-Term Investments | 843.17M | 553.60M | 55.09M | 61.63M | 93.50M | 56.66M |
| Total Debt | 773.22M | 365.43M | 601.66M | 555.28M | 527.49M | 498.80M |
| Total Liabilities | 4.85B | 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 | 914.84M | 665.72M | -8.95M | -297.33M | -326.74M | -199.30M |
| Operating Cash Flow | 1.16B | 886.88M | 174.23M | 67.29M | 25.62M | 110.48M |
| Investing Cash Flow | -125.77M | -127.84M | -193.51M | -303.70M | -146.16M | -304.08M |
| Financing Cash Flow | -267.35M | -260.63M | 13.89M | 236.05M | 125.03M | 158.14M |
Coeur Mining Technical Analysis
Negative
20.38
Price Trends
18.90
Negative
20.62
Negative
18.32
Negative
Market Momentum
-0.38
Positive
45.11
Neutral
13.80
Positive
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 20.38 is above the 20-day moving average (MA) of 18.33, above the 50-day MA of 18.90, and above the 200-day MA of 18.32, indicating a bearish trend. The MACD of -0.38 indicates Positive momentum. The RSI at 45.11 is Neutral, neither overbought nor oversold. The STOCH value of 13.80 is Positive, 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 | $443.93M | 7.06 | 24.36% | 2.06% | 40.20% | 141.58% | |
76 Outperform | $18.34B | 12.08 | 16.27% | ― | 116.56% | 325.61% | |
76 Outperform | $11.52B | -164.09 | 11.04% | 0.07% | 56.81% | 525.85% | |
73 Outperform | $2.27B | 0.61 | 32.58% | 1.02% | 32.68% | 91.90% | |
73 Outperform | $10.86B | 5.53 | 32.51% | 0.87% | 31.10% | 57.19% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | $8.29B | -27.73 | -12.94% | ― | 19.11% | 27.86% |
* Basic Materials Sector Average
CDE
Coeur Mining
17.73
9.93
127.31%
DRD
Drdgold
26.68
11.69
77.97%
HMY
Harmony Gold Mining
17.43
2.38
15.83%
HL
Hecla Mining Company
17.18
12.12
239.46%
SBSW
Sibanye Stillwater
11.84
6.25
111.81%
CMCL
Caledonia Mining
22.96
6.07
35.94%
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...
Business Operations and StrategyPrivate Placements and Financing
Coeur Mining Completes Major Senior Notes Exchange Offer
Positive
Apr 23, 2026
On April 22, 2026, Coeur Mining completed a previously announced private exchange offer and consent solicitation involving New Gold Inc.’s US$400 million of 6.875% senior notes due 2032. The company issued US$385.774 million of its own 6.875...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsM&A TransactionsPrivate Placements and Financing
Coeur Mining Launches Debt Exchange to Optimize Capital Structure
Positive
Mar 23, 2026
On March 20, 2026, Coeur Mining entered a new five-year, $1 billion senior secured revolving credit facility with an option to increase by $250 million, replacing its prior 2017 facility and pledging shares in certain U.S. and Canadian subsidiarie...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresM&A TransactionsShareholder Meetings
Coeur Mining Advances New Gold Acquisition and Board Changes
Positive
Feb 18, 2026
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 rel...
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.