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what it is
Coeur digs gold and silver out of mines in the U.S., Canada, Mexico, and Bolivia, then sells the metals.
how it gets paid
Last year Coeur Mining made $2.1B in revenue. is a gold was the main engine at $1.5B, or 70% of sales.
why it's growing
Revenue grew 96.4% last year. The last reported quarter showed revenue up 152% vs. prior year and EPS up 49% vs. prior year.
what just happened
Revenue hit $1.4B and EPS came in at $0.61 as Coeur kept riding stronger production and metal prices.
At a glance
B balance sheet — gets the job done, barely
25/100 earnings predictability — expect surprises
18.8x trailing p/e — priced about right
9.0% return on capital — nothing to write home about
xvary composite: 53/100 — below average
What they do
Coeur digs gold and silver out of mines in the U.S., Canada, Mexico, and Bolivia, then sells the metals.
You are not buying a brand. You are buying ore bodies plus leverage to metal prices. Gold was 70% of 2024 sales and silver was 30%, spread across five main mines in four countries, which gives you more shots on goal than a one-mine story.
How they make money
$2.1B
annual revenue · their business grew +96.4% last year
is a gold
$1.5B
n/a
silver
$630M
n/a
The products that matter
primary precious metal output
Gold
70% of 2024 sales
gold made up 70% of sales in 2024. if the gold price is working for you, the rest of the story gets easier.
main driver
secondary precious metal output
Silver
30% of 2024 sales
silver was 30% of sales. it matters, but this is still more gold story than silver story.
second driver
combined mining operations
Mining operations
$2.1B revenue · +96.4%
the snapshot data shows one combined mining business that nearly doubled revenue to $2.1B last year. the exact mine-level split is thin here, which matters because asset quality is the entire game in mining.
data is thin
Key numbers
37.5%
operating margin
Operating margin → profit after running the mines → so what, this is far fatter than most miners get when conditions are weak.
$339M
long-term debt
Long-term debt → money owed over years → so what, it is only 3% of capital, so the balance sheet is not the main thing trying to kill you here.
9.0%
return on capital
Return on capital → profit from the money put into the business → so what, Coeur is improving, but it is not yet a capital-allocation masterpiece.
18.8x
trailing p/e
Trailing P/E → price versus past 12-month earnings → so what, you are paying a full price for a miner with a risk rank of 4.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
- long-term debt $339M (3% of capital)
- net profit margin 17.9% — keeps 18 cents of every dollar in revenue
- return on equity 10% — $0.10 profit for every $1 investors have put in
B — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in CDE 3 years ago → it's now worth $53,340.
The index would have given you $13,920.
source: institutional data · total return
What just happened
beat estimates
Revenue hit $1.4B and EPS came in at $0.61 as Coeur kept riding stronger production and metal prices.
The last reported quarter showed revenue up 152% vs. prior year and EPS up 49% vs. prior year. The prior reported earnings release also beat estimates, with $0.35 versus a $0.27 estimate, a 29.63% surprise.
$1.4B
revenue
$0.61
eps
37.5%
gross margin
the number that mattered
The key number is $0.61 in EPS, because it shows Coeur can now earn real money after losing $0.30 per share in 2023.
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coeur mining’s stock price appears to have topped out.in the company’s second-quarter press release, management stated that 2025 second-half results would be very strong.
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this sent the stock price up to current levels.the company did indeed deliver in the third quarter, and will probably do the same in the fourth period. the fact that the stock price hasn’t risen any further indicates to us that most of the good news is now baked in.
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does this mean that the equity is poised for a drop?
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not necessarily.although we do advise readers to consider taking some profits off the table, while retaining a hefty portion. indeed, it appears that some major institutional investors are doing that just prior to year-end in order to window dress. (lane generational sold 311,000 shares for $3.8 million.) we can’t see anything on the short-term horizon that would cause the equity to dip.
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production at the low-risk mines coeur operates is proceeding as expected.the company recently bought new gold, which should add 20 million ounces of silver, 900,000 ounces of gold, and 100 million pounds of copper. and the prices of gold and silver could go even higher if macroeconomic events take a greater turn for the worse, and stock markets reverberate negatively.
source: company earnings report, 2026
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What could go wrong
the #1 risk is gold and silver price whiplash — this company sells mined ounces, so the commodity tape shows up directly in the income statement.
med
metal prices stop cooperating
gold is 70% of sales and silver is 30%. if both prices roll over together, revenue does not have a backup engine.
100% of the current $2.1B revenue base is tied to precious-metals pricing.
med
mine execution slips
mining is a cost-control business wearing a geology costume. production misses, processing issues, or permitting delays can hit results fast.
that matters more here because the stock only scores 25 / 100 on earnings predictability.
med
reserve replacement disappoints
mines are wasting assets by definition. if new reserves do not replace depleted ones, future production shrinks even if today's quarter looks fine.
the recent reserve addition helps, but the long-term test is whether those 20M silver ounces and 900k gold ounces become profitable output.
this is a commodity equity with a 36.7% net margin today and a 5 / 100 price stability score. the profits can look great right up until the tape turns.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
quarterly production versus guidance
for miners, ounces shipped are the first truth check. if production starts missing guidance, the margin story usually follows it down.
risk
gold and silver price direction
with gold at 70% of sales and silver at 30%, the stock is effectively a listed opinion on precious-metals pricing.
calendar
reserve and resource updates
the company just added 20M ounces of silver and 900k ounces of gold to reserves through acquired assets. the next updates tell you how durable that really is.
trend
whether revenue growth normalizes hard
+96.4% growth is not a normal base rate. if the next few quarters cool sharply, the market will stop paying up for the recent surge.
Analyst rankings
short-term outlook
top 20%
momentum score 2 — in human-speak, analysts think the stock has better near-term odds than most names they cover.
risk profile
below average
stability score 4 — the wording looks calmer than the reality. a 5 / 100 price stability score means the ride can get violent.
chart momentum
average
technical score 3 — no strong chart signal right now. the stock is not being pushed by a clean trend setup.
earnings predictability
25 / 100
earnings are hard to model here. commodity moves and mine performance can turn a clean forecast into a rough quarter.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 231 buyers vs. 199 sellers in 3q2025. total institutional holdings: 0.5B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$6
$25
$17
current price
$16
target midpoint · 5% from current · 3-5yr high: $19 (+20% · 4% ann'l return)
Want the deeper analysis?
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