Coeur Mining, Inc. (CDE)
Summary
Coeur Mining Is No Longer Cheap, But Growth Still Justifies More Upside
I'm reiterating Coeur Mining as a Strong Buy with a $26 price target, reflecting 30% upside. CDE delivered record revenue, adjusted EBITDA, and $388 million in free cash flow, ending the quarter with $1.1 billion cash and net cash position. The valuation has changed materially since my previous article because CDE now trades near the sector on forward earnings and EV/EBITDA rather than at a large discount.
Coeur Mining: A Guidance Cut Doesn't Change The Bigger Picture
Coeur Mining remains a Strong Buy, with robust cash flow, a strong balance sheet, and significant long-term optionality supporting a discounted valuation. CDE's updated 2026 FCF guidance is $1.5 billion, down from >$2 billion, reflecting operational challenges but still indicating substantial cash generation and flexibility. The company is leveraging record exploration budgets and a $750 million buyback program while maintaining net cash and pursuing shareholder returns.
Coeur Mining Q2 Earnings Call Highlights
Coeur Mining NYSE: CDE reported record second-quarter financial results, supported by the first full quarter of contributions from its recently acquired New Afton and Rainy River operations. The company said quarterly revenue exceeded $1 billion for the first time, while adjusted EBITDA and free cash flow also reached quarterly records.
Coeur Mining, Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 24,522 | $355,297.03 | $400,689.48 | $45,392.45 | 12.78% |
 Curtis Ellergodt Rothschild Investment LLC | 1,779 | $18,681.49 | $28,837.59 | $10,156.1 | 54.36% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 46,262 | $754,990 | $804,496.18 | $49,506.18 | 6.56% |
| ABB Alexander Bjornager Bonde Danske Bank A/S | 414,400 | $7.32M | $7.2M | -$117,695.79 | -1.61% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 3,016 | $44,158.36 | $56,037.28 | $11,878.92 | 26.9% |
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Coeur Mining, Inc. Profile
| Metals & Mining Industry | Materials Sector | Mitchell J. Krebs CEO | NYSE Exchange | 192108504 CUSIP |
| US Country | 2,620 Employees | 22 May 2026 Last Dividend | 27 May 2009 Last Split | 12 Apr 1990 IPO Date |
Overview
Coeur Mining, Inc., initially known as Coeur d'Alene Mines Corporation before its renaming in May 2013, stands as a pivotal explorer for precious metals within the United States, Canada, and Mexico since its incorporation in 1928. With a strategic focus on acquiring and developing gold, silver, zinc, and lead properties, the company has committed itself to supply the growing demand for these valuable resources. Headquartered in Chicago, Illinois, Coeur Mining has leveraged its extensive experience and technological advancements to position itself as a leader in the precious metals industry, aiming to deliver value to its stakeholders through sustainable and responsible mining practices.
Products and Services
- Gold Exploration and Mining - Coeur Mining is engaged in the exploration and mining of gold, a core part of their business. This includes identifying, extracting, and processing gold ore to produce gold concentrates. Gold, known for its value and use in various industries including jewelry, electronics, and as an investment, is a significant part of Coeur Mining's product portfolio.
- Silver Exploration and Mining - Another primary focus for Coeur Mining is the exploration and mining of silver. Much like gold, the company seeks out silver deposits, mines them, and processes the ore to create silver concentrates. Silver is widely used in industrial applications, electronics, and as an investment commodity, making it an important product for the company.
- Zinc and Lead Exploration and Mining - In addition to precious metals, Coeur Mining also explores for zinc and lead. These base metals are mined and processed to produce concentrates that are marketed and sold. Zinc is primarily used for galvanizing steel to prevent rust, whereas lead is used in batteries, protective shields for radioactive exposure, and in various alloys, underscoring the diversity of Coeur Mining's product range.
- Concentrates Marketing and Sales - Coeur Mining markets and sells its concentrates to third-party customers and smelters under off-take agreements. This service ensures the monetization of the mined ore, transforming raw materials into valuable, market-ready products. By engaging in the sale of concentrates, Coeur Mining creates a vital link between the extraction of raw materials and their utilization in various industries across the globe.
