Coeur Mining
CDENYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $15.29 Prior regular-session close from the quote source.
- $15.00–$15.41 Regular-session low and high so far today.
- 26.0M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $12.71–$27.77 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own CDE if its enlarged mine base turns favorable gold and silver markets into repeatable cash flow rather than a one-year commodity-cycle windfall.
CDE price history
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Investment thesis
What must happen next
Coeur’s permitted precious-metals asset base in the U.S., Canada, and Mexico will keep converting demand for gold and silver into saleable production rather than fading as a depleted or disrupted mine portfolio.StrengtheningMateriality: High
GAAP annual revenue rose to $2.070 billion in FY2025 from $1.054 billion in FY2024 and $821 million in FY2023. If this holds, revenue has a physical production base behind it; if it breaks, higher metal prices may not translate into shareholder value.
Watch: A sustained gold and silver bear market caused by rising real rates or a stronger U.S. dollar reduces the value of Coeur’s ounces before revenue turns.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue rose to $2.070 billion in FY2025 from $1.054 billion in FY2024 and $821 million in FY2023.
Open source ↗Higher throughput and favorable metals pricing will continue to create operating leverage only if mine operating costs, strip ratios, energy, labor, and processing performance do not absorb the upside.StrengtheningMateriality: High
GAAP annual operating income increased to $707 million in FY2025 from $164 million in FY2024. This determines whether Coeur is merely a bigger producer or a materially more profitable producer.
Watch: Diesel, power, labor, explosives, cyanide, steel, or contractor inflation accelerates faster than realized gold and silver prices.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income increased to $707 million in FY2025 from $164 million in FY2024.
Open source ↗Coeur’s stronger operations will fund sustaining capital, development, and reclamation needs internally rather than forcing balance-sheet stress or equity issuance during the next mining-cycle downturn.StrengtheningMateriality: Medium
GAAP annual operating cash flow increased to $887 million in FY2025 from $174 million in FY2024. For a cyclical miner, cash generation is what separates value-accretive growth from dilution and distress.
Watch: Sustaining capital, mine development, or reclamation spending rises materially because of geotechnical issues, equipment replacement, or regulatory requirements.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow increased to $887 million in FY2025 from $174 million in FY2024.
Open source ↗The enlarged cash and equity base gives Coeur the option to endure commodity volatility and invest countercyclically, provided management does not re-lever the company at the wrong point in the cycle.StrengtheningMateriality: Medium
Cash was $554 million at FY2025 year-end versus $55 million at FY2024 year-end. A stronger balance sheet can compound value in mining, but only if it is used for resilience and disciplined capital allocation.
Watch: Management uses the stronger cash position for a large, premium-priced acquisition or high-risk development project.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash was $554 million at FY2025 year-end versus $55 million at FY2024 year-end.
Open source ↗Coeur’s growth will create per-share value only if incremental production and cash flow are not offset by dilution, high-cost financing, or value-destructive acquisitions.StrengtheningMateriality: Medium
GAAP diluted EPS improved to $0.95 in FY2025 from $0.15 in FY2024. Mining companies can grow assets and revenue while still failing owners if the gains are spread over too many shares or bought at poor returns.
Watch: Equity issuance, convertible securities, or share-based acquisition consideration materially expands the share count.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP diluted EPS improved to $0.95 in FY2025 from $0.15 in FY2024.
Open source ↗
Full investment case & evidence
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Original research
Coeur’s permitted precious-metals asset base in the U.S., Canada, and Mexico will keep converting demand for gold and silver into saleable production rather than fading as a depleted or disrupted mine portfolio. If this holds, revenue has a physical production base behind it; if it breaks, higher metal prices may not translate into shareholder value.
Higher throughput and favorable metals pricing will continue to create operating leverage only if mine operating costs, strip ratios, energy, labor, and processing performance do not absorb the upside. This determines whether Coeur is merely a bigger producer or a materially more profitable producer.
Coeur’s stronger operations will fund sustaining capital, development, and reclamation needs internally rather than forcing balance-sheet stress or equity issuance during the next mining-cycle downturn. For a cyclical miner, cash generation is what separates value-accretive growth from dilution and distress.
The enlarged cash and equity base gives Coeur the option to endure commodity volatility and invest countercyclically, provided management does not re-lever the company at the wrong point in the cycle. A stronger balance sheet can compound value in mining, but only if it is used for resilience and disciplined capital allocation.
Coeur’s growth will create per-share value only if incremental production and cash flow are not offset by dilution, high-cost financing, or value-destructive acquisitions. Mining companies can grow assets and revenue while still failing owners if the gains are spread over too many shares or bought at poor returns.
All standing thesis claims
Original report summary
its enlarged mine base turns favorable gold and silver markets into repeatable cash flow rather than a one-year commodity-cycle windfall.
Bull case and bear case
Bull case and bear case for Coeur Mining
Where the evidence on Coeur Mining stands: Strengthening on the latest evidence (Oct 13, 2026). Of its 5 thesis points, 5 strengthening.
Bull case: what the evidence supports
Coeur’s permitted precious-metals asset base in the U.S., Canada, and Mexico will keep converting demand for gold and silver into saleable production rather than fading as a depleted or disrupted mine portfolio.
Higher throughput and favorable metals pricing will continue to create operating leverage only if mine operating costs, strip ratios, energy, labor, and processing performance do not absorb the upside.
Coeur’s stronger operations will fund sustaining capital, development, and reclamation needs internally rather than forcing balance-sheet stress or equity issuance during the next mining-cycle downturn.
The enlarged cash and equity base gives Coeur the option to endure commodity volatility and invest countercyclically, provided management does not re-lever the company at the wrong point in the cycle.
Coeur’s growth will create per-share value only if incremental production and cash flow are not offset by dilution, high-cost financing, or value-destructive acquisitions.
Bear case: what would count against it
A sustained gold and silver bear market caused by rising real rates or a stronger U.S. dollar reduces the value of Coeur’s ounces before revenue turns.
Diesel, power, labor, explosives, cyanide, steel, or contractor inflation accelerates faster than realized gold and silver prices.
Sustaining capital, mine development, or reclamation spending rises materially because of geotechnical issues, equipment replacement, or regulatory requirements.
Thesis-Break Engine
Thesis-break watch · Coeur Mining
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedRegulation FD disclosure.
Coeur Mining filed an SEC 8-K on 2026-09-28: Regulation FD disclosure. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Coeur Mining filed an SEC 8-K on 2026-08-05: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedOther material event.
Coeur Mining filed an SEC 8-K on 2026-05-18: Other material event. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- A sustained gold and silver bear market caused by rising real rates or a stronger U.S. dollar reduces the value of Coeur’s ounces before revenue turns.
- Diesel, power, labor, explosives, cyanide, steel, or contractor inflation accelerates faster than realized gold and silver prices.
- Sustaining capital, mine development, or reclamation spending rises materially because of geotechnical issues, equipment replacement, or regulatory requirements.
- Management uses the stronger cash position for a large, premium-priced acquisition or high-risk development project.
- Equity issuance, convertible securities, or share-based acquisition consideration materially expands the share count.
CDE news
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Financial statements
CDE income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
CDE: quick answers
- Have members of Congress traded CDE?
- 1 trade in CDE has been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed CDE trade
- Which well-known investors own CDE?
- 1 of the 37 well-known funds tracked here reported CDE shares in their latest 13F filing. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
CDE in well-known investors’ portfolios
1 of 37 funds reported CDE shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.04% | $9.2M | −56.7% | Q2 2026 |