Coeur Mining, Inc. (CDE) Stock Analysis

Why this analysis is different

• A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
• An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
• Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.

Coeur Mining, Inc. (CDE) Materials & Commodity Exposure

Coeur Mining, Inc. is a Chicago-headquartered precious metals explorer and producer, operating gold, silver, zinc, and lead mines across the United States, Canada, and Mexico. The company focuses on 100% owned properties, marketing concentrates to third parties, and leverages a diversified asset base in key mining regions.

What Is the Investment Thesis for CDE?

Coeur Mining, Inc. presents a diversified exposure to precious and base metals, operating a portfolio of 100% owned gold, silver, zinc, and lead mines across North America. The company's financial profile, characterized by a market capitalization of $11.55 billion, a P/E ratio of 16.14, and a robust profit margin of 31.1% alongside a gross margin of 50.8%, indicates operational efficiency within the mining sector. A free cash flow of $0.33 billion provides financial flexibility for ongoing operations and potential capital expenditures. The company's beta of 1.24 suggests a higher sensitivity to market movements compared to the broader market, typical for a commodity-focused enterprise. Key value drivers include sustained demand for precious metals, successful exploration leading to resource expansion at existing mines, and the advancement of development projects like Crown, Sterling, and La Preciosa. Operational improvements at key assets such as Rochester and Palmarejo could further enhance profitability. However, the investment is subject to inherent risks associated with commodity price volatility, regulatory changes, and geopolitical factors in its operating regions. The modest dividend yield of 0.12% suggests a focus on reinvestment into operations and growth rather than significant capital returns to shareholders at this time.

Based on FMP financials and quantitative analysis

CDE Key Highlights

Market Capitalization of $11.55 billion reflects its significant presence within the precious metals mining industry.

• A P/E ratio of 16.14 indicates a potentially attractive valuation relative to earnings, especially within the cyclical basic materials sector.
• Profit Margin of 31.1% demonstrates strong profitability from its mining operations, exceeding many industry peers.
• Gross Margin of 50.8% highlights efficient cost management in production before operating expenses are considered.
• Free Cash Flow (FCF) of $0.33 billion provides substantial liquidity for reinvestment, debt reduction, or potential shareholder returns, indicating financial health.

Who Are CDE's Competitors?

CDE is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance

What Are CDE's Key Strengths?

Diversified portfolio of precious and base metals (gold, silver, zinc, lead).

• Geographically diversified operations across North America (US, Canada, Mexico).
• 100% ownership of five operating mines provides full control and operational flexibility.
• Strong financial metrics including a 31.1% profit margin and $0.33B in free cash flow.

What Are CDE's Weaknesses?

Exposure to commodity price volatility inherent in the mining sector.

• High capital intensity required for exploration, development, and mine maintenance.
• Reliance on third-party smelters for processing concentrates.
• Operational risks associated with mining, including geological, technical, and environmental challenges.

What Could Drive CDE Stock Higher?

CDE catalyst: Successful completion of expansion projects at the Rochester mine, potentially increasing silver and gold production capacity within the next 1-2 years.

• Positive exploration results from the Crown and Sterling projects in Nevada, which could lead to resource upgrades and accelerate development timelines.
• Sustained or increasing global demand for gold and silver driven by macroeconomic factors, directly impacting metal prices and company revenues.
• Advancement of the La Preciosa project in Mexico through feasibility studies, potentially adding a significant silver resource to the company's pipeline.
• Implementation of operational efficiency improvements across the mine portfolio to reduce per-ounce production costs and enhance profitability.

What Are the Key Risks for CDE?

Inconsistent delivery — missed Wall Street EPS estimates in 4 of the last 8 reported quarters.

• Insider selling — insiders were net sellers of roughly $1.8M recently.
• Significant volatility in the prices of gold, silver, zinc, and lead, which directly impacts the company's revenue and profitability.
• Operational challenges such as unexpected geological conditions, equipment failures, or labor disputes that could disrupt production at any of its five mines.
• Changes in environmental regulations or permitting processes in the United States, Canada, or Mexico, potentially increasing compliance costs or delaying project development.
• Geopolitical risks and social license to operate concerns in its operating regions, particularly in Mexico, which could affect operational stability.
• Fluctuations in foreign exchange rates, especially between the U.S. dollar and the Mexican peso or Canadian dollar, impacting operational costs and reported earnings.

What Are the Growth Opportunities for CDE?

• Growth opportunity 1: **Expansion and Optimization of Existing Mines.** Coeur Mining's existing portfolio, particularly the Rochester silver and gold mine in Nevada and the Palmarejo gold and silver mine in Mexico, offers significant potential for production increases through ongoing optimization and expansion projects. For instance, enhancing throughput or recovery rates at these established operations can lead to higher output without the full capital expenditure of a new mine. The company's 100% ownership provides full control over these initiatives, allowing for strategic capital allocation to maximize returns from proven reserves. This organic growth strategy typically carries lower risk compared to greenfield development and can deliver results within a 1-3 year timeline, directly impacting revenue and profitability.
• Growth opportunity 2: **Advancement of Development Projects.** Coeur Mining holds interests in several advanced-stage projects, including the Crown and Sterling projects in southern Nevada and the La Preciosa project in Mexico. These projects represent future production potential that could significantly augment the company's output. Successful exploration, feasibility studies, and permitting processes for these assets could transition them into development or production phases. Bringing even one of these projects online could add substantial new reserves and production ounces, diversifying the company's revenue streams and extending its operational lifespan. The timeline for such projects typically ranges from 3-7 years, depending on their stage of development and capital requirements.
• Growth opportunity 3: **Increased Demand for Precious Metals.** Global economic uncertainties, inflationary pressures, and geopolitical tensions often drive increased investment demand for gold and silver as safe-haven assets. As a primary producer of these metals, Coeur Mining is directly poised to benefit from sustained or rising commodity prices. Additionally, silver and lead/zinc have industrial applications, with demand influenced by manufacturing and technological advancements. A robust global economy could also support base metal prices. While commodity prices are volatile, a favorable macro environment for precious metals would directly enhance the company's revenue and profit margins, impacting its financial performance over short to medium-term horizons (1-5 years).
• Growth opportunity 4: **Exploration Success in Existing Land Packages.** The company's extensive landholdings, such as the 67,296 net acres at Palmarejo and 97,298 net acres at Silvertip, provide significant potential for new discoveries or extensions of known ore bodies. Ongoing exploration programs, leveraging advanced geological modeling and drilling techniques, could identify additional high-grade resources. Successful exploration not only adds to the company's reserve base but also increases the intrinsic value of its assets and extends mine life. This organic growth through the drill bit is a fundamental aspect of mining companies and can lead to substantial value creation over a 2-5 year timeframe, depending on the scale and quality of discoveries.
• Growth opportunity 5: **Strategic Acquisitions and Partnerships.** While not explicitly stated as a current strategy, the mining industry frequently sees consolidation. Coeur Mining, with its established operational base and financial capacity, could pursue strategic acquisitions of other precious or base metal properties or companies. Such moves could expand its reserve base, diversify its geographic footprint, or acquire synergistic assets that enhance its existing operations. Partnerships with junior explorers could also provide access to new projects with lower upfront capital commitment. These opportunities could accelerate growth and market share, with timelines varying widely based on the complexity of the transaction, typically 1-3 years for integration.

What Threats Does CDE Face?

• Fluctuations in global commodity prices for gold, silver, zinc, and lead.
• Regulatory changes or increased environmental scrutiny in operating jurisdictions.
• Geopolitical instability or social unrest in Mexico or other operating regions.
• Rising input costs (energy, labor, materials) impacting profitability.

What Are CDE's Competitive Advantages?

• **Geographic Diversification:** Operates mines in the US, Canada, and Mexico, reducing exposure to single-country political or regulatory risks.
• **100% Ownership of Key Assets:** Full control over operational decisions, capital allocation, and exploration programs at its primary mines.
• **Diversified Metal Portfolio:** Produces gold, silver, zinc, and lead, providing a hedge against price fluctuations in any single commodity.
• **Established Production Base:** Long-standing operational mines provide consistent cash flow and a foundation for future growth.
• **Extensive Land Holdings:** Large land packages around existing mines and development projects offer significant exploration upside and resource expansion potential.

What Does CDE Do?

Coeur Mining, Inc., incorporated in 1928 and headquartered in Chicago, Illinois, has a long-standing history in the precious metals industry. Initially known as Coeur d'Alene Mines Corporation, the company rebranded to Coeur Mining, Inc. in May 2013, signifying its evolution and broader operational scope. The company's core business revolves around the exploration, development, and production of gold, silver, zinc, and lead properties primarily across the United States, Canada, and Mexico. This geographic diversification helps mitigate regional risks and provides access to diverse geological endowments. Coeur Mining operates five wholly-owned mines, which form the backbone of its production profile. These include the Palmarejo gold and silver mine in Chihuahua, Mexico, spanning approximately 67,296 net acres; the Rochester silver and gold mine in northwestern Nevada, covering about 43,441 net acres; the Kensington gold mine north of Juneau, Alaska, comprising 3,972 net acres; the Wharf gold mine in the Black Hills of western South Dakota, encompassing 3,243 net acres; and the Silvertip silver-zinc-lead mine in northern British Columbia, Canada, which covers 97,298 net acres. Beyond these producing assets, Coeur Mining also holds significant interests in development-stage projects, such as the Crown and Sterling projects in southern Nevada and the La Preciosa project in Mexico, which represent potential future growth avenues. The company's operational model involves mining these properties and then marketing and selling the extracted concentrates to third-party customers and smelters, often under off-take agreements. With 2,116 employees, Coeur Mining maintains a substantial operational footprint, emphasizing responsible mining practices and efficient resource extraction to support its position within the global precious metals market.

What Products and Services Does CDE Offer?

• Explores for precious metals, primarily gold, silver, zinc, and lead properties.
• Operates five 100% owned mines across the United States, Canada, and Mexico.
• Extracts gold and silver from its Palmarejo mine in Mexico.
• Mines silver and gold at its Rochester mine in Nevada, USA.
• Produces gold from the Kensington mine in Alaska, USA.
• Extracts gold from the Wharf mine in South Dakota, USA.
• Mines silver, zinc, and lead from the Silvertip mine in British Columbia, Canada.
• Markets and sells its metal concentrates to third-party customers and smelters.

How Does CDE Make Money?

• Generates revenue through the extraction and sale of gold, silver, zinc, and lead concentrates.
• Operates wholly-owned mines, allowing for direct control over production and cost management.
• Engages in exploration activities to discover and develop new mineral resources, ensuring future production pipeline.
• Utilizes off-take agreements to secure sales channels for its concentrates with third-party smelters and customers.

What Industry Does CDE Operate In?

Coeur Mining, Inc. operates within the Basic Materials sector, specifically positioned in the Gold industry, though its portfolio extends to silver, zinc, and lead. The precious metals market is characterized by cyclicality, influenced by global economic conditions, geopolitical stability, inflation expectations, and currency fluctuations, which often drive demand for gold and silver as safe-haven assets. Industrial demand for silver and base metals like zinc and lead also plays a role. The competitive landscape includes major gold producers, diversified miners, and smaller exploration companies. Coeur Mining distinguishes itself through its focus on 100% ownership of its mines across North America, providing direct control over operations and development. Key market trends include increasing focus on sustainable mining practices, technological advancements in extraction, and the ongoing challenge of discovering new high-grade deposits. The company's diversified metal exposure offers a hedge against single-commodity price volatility, positioning it within a dynamic and capital-intensive industry.

Who Are CDE's Key Customers?

• Third-party metal smelters that process raw concentrates into refined metals.
• Industrial customers requiring base metals like zinc and lead.
• Investors and institutions indirectly through the global commodity markets for gold and silver.
• Various commercial entities that purchase metal concentrates for further processing.

Company Profile

Coeur Mining, Inc. operates in the Gold industry within the Basic Materials sector. It is headquartered in Chicago, US. The company is led by CEO Mitchell J. Krebs. CDE has traded publicly since 1980.

Coeur Mining, Inc. Financial Trajectory

Coeur Mining, Inc. (CDE) reported $1.09B in revenue for Jun 2026, reflecting 26.8% growth compared to the prior quarter. The company recorded net income of $121.9M, with diluted EPS of $0.12. Revenue has increased across the last three reported quarters, suggesting sustained momentum for this unknown Basic Materials company. Across the four most recent quarters, CDE averaged $0.31 in diluted EPS.

How Coeur Mining, Inc. Is Valued

Analyst price targets span from $19.00 to $26.50, with a consensus of $21.50. At the current price of $20.73, that implies approximately 4% upside potential. Relative to its peer group, CDE's quantitative score of 83/100 is roughly in line with the peer average of 92/100.

Return on equity for Coeur Mining, Inc. stands at 16.3%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 5.2%, showing how much profit it generates from its asset base. CDE trades at a trailing price-to-earnings ratio of 16.14, below the Basic Materials sector average of ~21.40x. Its free cash flow yield is 9.1%, a gauge of the cash the business throws off relative to its market value. A current ratio of 3.73 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 8.1%, the inverse of the P/E and a quick read on earnings relative to price.

Coeur Mining, Inc.'s Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 2.97 places it in the grey zone, a middle ground that warrants monitoring.

Coeur Mining, Inc. has missed Wall Street's EPS estimate in 4 of its last 8 reported quarters — a mixed record worth weighing. Reported results have landed about 57.4% above estimates on average.

Wall Street analysts project Coeur Mining, Inc. revenue of about $4.84B for fiscal 2026, with EPS near $1.07. The estimate reflects 3 contributing analysts.

Over the past six months, Coeur Mining, Inc. insiders filed 9 SEC Form 4 transactions — 6 sales and 3 purchases. On net that is roughly 83K shares disposed (about $1.8M), a signal worth weighing alongside the fundamentals.

CDE Financials

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Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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