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Friday 6 November 2026
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Coeur Mining, Inc.
CDE Basic Materials Gold
Coeur Mining, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.1 billion, up 96.4% from fiscal 2024.
- Revenue
- +77.4%
- EPS
- −73.8%
- Free cash flow
- +104.5%
- Total debt
- −99.9%
Quarter to September 2026, against a year earlier
14.64
0.06
+0.41%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 572 | 710 | 626 | 712 | 785 | 833 | 786 | 821 | 1,054 | 2,070 | 3,600 | +15.4% | 4,236 | 5,152 | 4,236 | +27.0% | |
| Gross margin, % | 41.36 | 37.96 | 29.55 | 22.53 | 43.94 | 38.58 | 22.80 | 22.93 | 42.49 | 56.60 | 0.00 | +15.2 pt | ||||||
| EBT | (11) | 40 | (66) | (358) | 63 | 4 | (63) | (68) | 126 | 683 | 1,066 | n/m | ||||||
| EBT margin, % | (1.89) | 5.63 | (10.50) | (50.32) | 7.98 | 0.44 | (8.08) | (8.34) | 11.99 | 32.97 | 29.60 | +34.9 pt | ||||||
| Net income | 55 | (1) | (48) | (341) | 26 | (31) | (78) | (104) | 59 | 586 | 693 | +30.0% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 3.58 | 3.94 | 3.32 | 3.25 | 3.26 | 3.33 | 2.86 | 2.39 | 2.69 | 3.41 | 3.52 | (0.5%) | |||||
| Earnings | 0.35 | (0.01) | (0.26) | (1.56) | 0.11 | (0.13) | (0.28) | (0.30) | 0.15 | 0.95 | 0.93 | +11.7% | ||||||
| Cash flow | 0.79 | 1.16 | 0.09 | 0.42 | 0.62 | 0.44 | 0.09 | 0.20 | 0.44 | 1.46 | 1.58 | +7.1% | ||||||
| Capex | (0.59) | (0.67) | (0.74) | (0.46) | (0.39) | (1.21) | (0.68) | (1.04) | (0.47) | (0.36) | 0.00 | (5.2%) | ||||||
| Free cash flow | 0.20 | 0.49 | (0.65) | (0.04) | 0.23 | (0.77) | (0.58) | (0.84) | (0.02) | 1.10 | 1.58 | +21.0% | ||||||
| Book value | 4.81 | 4.53 | 4.52 | 3.05 | 2.88 | 3.20 | 3.23 | 2.98 | 2.87 | 5.46 | 10.18 | +1.4% | ||||||
| Shares, m | 160 | 180 | 189 | 219 | 241 | 250 | 275 | 343 | 392 | 607 | 837 | +16.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 29.00 | 0.00 | 0.00 | 0.00 | 98.57 | 0.00 | 0.00 | 0.00 | 46.28 | 19.25 | 15.81 | 19.3 | |||||
| P/S | 2.72 | 2.02 | 1.35 | 2.48 | 3.17 | 1.51 | 1.19 | 1.34 | 2.13 | 5.23 | 4.16 | 2.3 | ||||||
| P/B | 2.03 | 1.76 | 0.99 | 2.65 | 3.59 | 1.57 | 1.05 | 1.07 | 1.99 | 3.27 | 1.44 | 2.0 | ||||||
| EV/Sales | 2.90 | 2.33 | 1.90 | 2.82 | 3.41 | 2.03 | 1.73 | 1.93 | 2.63 | 5.13 | 4.03 | 2.7 | ||||||
| EV/FCF | 52.76 | 18.71 | (9.67) | (254.42) | 48.67 | (8.79) | (8.44) | (5.48) | (311.26) | 15.94 | 11.11 | (46.2) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 126 | 208 | 17 | 92 | 149 | 110 | 26 | 67 | 174 | 887 | 1,614 | +24.2% | |||||
| Capex | (94) | (120) | (140) | (100) | (94) | (303) | (187) | (356) | (183) | (221) | (308) | +9.9% | ||||||
| Free cash flow | 31 | 88 | (123) | (8) | 55 | (192) | (161) | (289) | (9) | 666 | 1,614 | +40.4% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 294 | 221 | 136 | 20 | 36 | 54 | 81 | (22) | (58) | 580 | 1,429 | +7.8% | |||||
| Net debt | 102 | 219 | 344 | 240 | 183 | 431 | 422 | 484 | 535 | (213) | (1,172) | n/m | ||||||
| Shareholders’ equity | 768 | 815 | 853 | 667 | 693 | 800 | 889 | 1,024 | 1,123 | 3,313 | 10,416 | +17.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 4.18 | (0.09) | (2.84) | (22.08) | 1.84 | (2.00) | (4.36) | (5.28) | 2.69 | 16.75 | 7.02 | +12.6 pt | |||||
| ROIC | 4.23 | 2.41 | (1.06) | (23.76) | 5.83 | 2.89 | (1.87) | (1.61) | 6.19 | 14.25 | 7.22 | +10.0 pt | ||||||
| ROE | 9.30 | (0.17) | (5.81) | (44.91) | 3.77 | (4.19) | (9.25) | (10.83) | 5.49 | 26.41 | 10.26 | +17.1 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 2,087 | 2,257 | 2,075 | 2,155 | 1,959 | 2,105 | 2,107 | 2,074 | 2,116 | 2,620 | — | +2.6% | |||||
| Revenue/emp, $m | 0.27 | 0.31 | 0.30 | 0.33 | 0.40 | 0.40 | 0.37 | 0.40 | 0.50 | 0.79 | — | +12.5% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| United States | 1,175 | 56.76% |
|---|---|---|
| Mexico | 895 | 43.24% |
| Gross margin | 56.60% | |
| Operating margin | 34.15% | |
| Pre-tax margin | 32.97% |
Coeur Mining, Inc. vs peers in Gold (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| GFI Gold Fields Limited | $33.5B | 22.5× | 7.2× | +8.27% (above 0%: growing) | n/m | +754.13% (above 0%: growing) | 37.73% | 0.00% | Compare |
| RGLD Royal Gold, Inc. | $22.1B | 26.4× | 19.7× | +84.38% (above 0%: growing) | +39.58% (above 0%: growing) | +97.96% (above 0%: growing) | 86.59% | 65.35% | Compare |
| CDE Coeur Mining, Inc. | $15.0B | 15.8× | 11.5× | +77.37% (above 0%: growing) | −73.81% (below 0%: shrinking) | +104.47% (above 0%: growing) | 0.00% | 17.74% | |
| EQX Equinox Gold Corp. | $13.2B | 10.9× | 9.3× | +169.33% (above 0%: growing) | +480.00% (above 0%: growing) | −103.64% (below 0%: shrinking) | 39.20% | 32.14% | Compare |
| HMY Harmony Gold Mining Company Limited | $10.6B | 52.0× | 4.8× | −3.10% (below 0%: shrinking) | n/m | +265.24% (above 0%: growing) | 26.37% | 0.00% | Compare |
| BTG B2Gold Corp | $7.0B | 8.8× | 6.0× | +14.03% (above 0%: growing) | +158.33% (above 0%: growing) | +462.54% (above 0%: growing) | 39.06% | 66.07% | Compare |
| OR OR Royalties Inc. | $6.6B | 23.4× | 21.9× | +62.05% (above 0%: growing) | +94.12% (above 0%: growing) | +61.89% (above 0%: growing) | 84.05% | 77.00% | Compare |
| AUGO Aura Minerals Inc. | $6.0B | 20.1× | 9.4× | +76.42% (above 0%: growing) | +2,263.64% (above 0%: growing) | +0.29% (above 0%: growing) | 56.99% | 52.18% | Compare |
| SSRM Silver Standard Resources Inc. | $5.6B | 22.8× | 10.1× | +16.02% (above 0%: growing) | +23.00% (above 0%: growing) | −152.32% (below 0%: shrinking) | 58.21% | 27.29% | Compare |
| Median of peers | $8.8B | 22.6× | 9.4× | +39.04% | +126.22% | +79.93% | 48.10% | 42.16% |
From the latest earnings call
- CEO Mitchell J. Krebs said the first full quarter from New Afton and Rainy River contributed to results, although their production ramp-ups faced delays.
- CFO Thomas S. Whelan said Coeur expects 2026 EBITDA of approximately $2.3 billion and free cash flow of approximately $1.5 billion at updated metal-price assumptions.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
72.96%
Held by the ten largest
43.73%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| BlackRock | 127.77m | 12.42% | +25.98m |
| Vanguard | 92.82m | 9.02% | +22.74m |
| VanEck | 67.03m | 6.52% | −13.93m |
| State Street | 50.13m | 4.87% | +15.30m |
| Fidelity (FMR) | 41.20m | 4.01% | +7.77m |
| Geode Capital Management | 20.50m | 1.99% | −5.91m |
| Victory Capital | 15.89m | 1.54% | +7.38m |
| Norges Bank | 12.47m | 1.21% | +12.47m |
| Invesco | 11.23m | 1.09% | −1.09m |
| Goldman Sachs | 10.76m | 1.05% | −727.04k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 1 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 6.65m | 42.80m | 172.00 |
| 2024 | 4.39m | 9.84m | 55.00 |
| 2023 | 4.11m | 3.85m | 31.00 |
| 2022 | 3.91m | 2.41m | 32.00 |
| 2021 | 3.70m | 2.67m | 49.00 |
Ownership
Directors and executive officers, together
0.90%
Van Eck Associates Corporation
10.30%
The Vanguard Group, Inc.
9.00%
BlackRock, Inc.
5.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Coeur Mining, Inc. (CDE) Latest News
5 Nov
8 Aug
7 Aug
6 Aug
5 Aug
CDE metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Coeur Mining is a precious metals producer headquartered in Chicago. It is led by Chairman, President and Chief Executive Officer Mitchell J. Krebs. The company mines and sells gold and silver, with operations in the United States, Mexico and Canada.
Its mines use both underground and open-pit methods. In Mexico, Las Chispas and Palmarejo produce silver and gold. In the United States, Rochester produces both metals, while Kensington and Wharf are gold mines. Coeur also operates the Silvertip silver-zinc-lead exploration project in British Columbia, Canada. An exploration project involves investigating a deposit rather than producing metal for sale.