We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CDE is Trading at a Cheaper Valuation: Should Investors be Bullish?
Read MoreHide Full Article
Key Takeaways
Coeur Mining reported Q4 2025 output of 112,429 gold oz and 4.6M silver oz, up 29% and 49% YoY.
CDE boosted results via higher throughput, stronger grades and record activity at Rochester expansion.
CDE strengthened its finances with $374.6M operating cash flow and sharply reduced debt levels.
Coeur Mining, Inc. (CDE - Free Report) is currently trading at a forward 12-month price-to-earnings multiple of 13.17X, below the Zacks Mining-Non Ferrous industry’s average of 25.28X and its five-year median.
Image Source: Zacks Investment Research
The forward 12-month price-to-earnings multiples for First Majestic Silver Corp. (AG - Free Report) and Hecla Mining Company (HL - Free Report) are 3.29X and 11.23X, respectively. CDE has a Value Score of C, while AG has a score of D and HL has a score of F.
Technical indicators show that CDE has been trading above the 200-day simple moving average (SMA). The 50-day SMA is reading higher than the 200-day SMA, indicating a bullish trend.
Image Source: Zacks Investment Research
Let’s look at the CDE’s fundamentals to analyze the stock better.
CDE Gains Momentum With Strong Q4 Production Growth
Coeur Mining recorded a strong fourth-quarter 2025 production performance. The improvement was driven by higher throughput and better ore grades across its operations. The company produced 112,429 ounces of gold and 4.6 million ounces of silver during the quarter. This marked a year-over-year increase of 29% in gold production and 49% in silver production. The results reflect steady progress in ramping up key assets within its portfolio.
The Rochester Mine remained the largest contributor to growth. The ongoing expansion project continued to advance during the quarter. This led to record operational activity at the site. Around 6.4 million tons of ore were crushed. About 9.3 million tons were placed on the leach pad. The mine produced 17,722 ounces of gold and 1.75 million ounces of silver.
At the Kensington Mine, gold production reached 29,567 ounces. This represented nearly a 10% increase from the prior-year quarter. The growth was supported by higher average gold grades. Increased mill throughput also contributed to the improvement.
The Wharf Mine reported a decline in production on a sequential basis. Output fell to 24,759 ounces of gold. The decrease was mainly due to reduced ore placement on the leach pad. This followed a fire incident at the tertiary crusher. The incident occurred during scheduled maintenance.
The Palmarejo Mine delivered stable performance compared with the previous year. The mine produced 25,662 ounces of gold and 1.6 million ounces of silver. Consistent underground mining supported these results. Ore grades also remained steady during the quarter.
The newly acquired Las Chispas Mine made a strong contribution to overall production. It delivered 14,719 ounces of gold and 1.4 million ounces of silver. The performance was driven by higher gold and silver grades.
Robust Operating and Free Cash Flow Surge Aids CDE
The company’s financial transformation reflects a more resilient and disciplined business model. It is rapidly deleveraging while continuing to fund growth initiatives and return capital to shareholders. Coeur Mining ended 2025 with a much stronger financial position. It reported $553.6 million in cash and cash equivalents, which represents a 904% increase compared to the same period last year.
During the fourth quarter, the company generated $374.6 million in cash flow from operating activities. This marks a substantial improvement from $64 million in the prior-year quarter. The growth was driven by solid operational performance, higher metal sales volumes and stronger realized prices for both gold and silver. Free cash flow for the fourth quarter was approximately $313 million.
Total debt declined to about $340.5 million by the end of the period. This reflects a 42% reduction from year-end 2024. As a result, its total debt-to-capital ratio declined to 9.3% from 34.3% a year ago.
Capital investment for the quarter was $61.4 million, taking full-year capital expenditures to $221.2 million. About 78% of the quarterly spending was allocated to sustaining capital, while the remaining 22% was directed toward development activities across its operating assets.
Coeur Expands Operations With Key Strategic Initiatives
Coeur Mining continued to advance several strategic projects and corporate initiatives during the fourth quarter of 2025. These efforts reinforce its long-term growth strategy and support operational expansion across North America.
One of the most significant developments was the ongoing ramp-up of the Rochester Mine expansion project. This project has transformed the operation into one of the largest primary silver producers in the United States. The expansion has enabled much higher ore placement rates and improved recovery levels.
At the same time, Coeur Mining is advancing work at its Silvertip Project. Ongoing exploration and development activities are focused on evaluating a potential restart of this high-grade silver, lead and zinc deposit. The project remains an important component of the company’s future growth pipeline.
Coeur Mining completed the acquisition of New Gold Inc. on March 20, 2026. This deal added the New Afton and Rainy River mines to its asset base. The acquisition further diversifies Coeur Mining’s production mix by increasing its exposure to gold, silver and copper. It also strengthens the company’s long-term production outlook and geographic footprint.
CDE Witnesses Downward Estimate Revision
The Zacks Consensus Estimate for 2026 and 2027 for CDE has been revised lower over the past 90 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for CDE’s fiscal 2026 earnings is currently pegged at $1.43 per share, suggesting a year-over-year growth of 78.8%. The same for 2027 is pegged at $1.8 per share, indicating a year-over-year growth of 25.6%
Image Source: Zacks Investment Research
CDE has gained 233.5% over the past year compared with the Zacks Mining-Non Ferrous industry’s 115.9% increase. It has outpaced AG’s 209.5%, HL’s 232.1% and the S&P 500’s 29.9% rise.
Price Performance of CDE vs. Industry, AG, HL and S&P 500
Image Source: Zacks Investment Research
Final Thoughts: Hold Coeur Mining
Coeur Mining continues to demonstrate improving operational momentum and stronger financial health, supported by higher production, robust cash generation and a significant reduction in debt levels. Growth initiatives such as the Rochester expansion and the integration of the Las Chispas mine are expected to enhance the company’s long-term production profile.
However, some operational challenges remain as production at the Wharf mine declined after a fire incident temporarily reduced crushing capacity, highlighting potential operational risks across its asset base. CDE trades at a lower valuation than the industry average, which may encourage investors holding the stock to retain it while they monitor operational stability and the execution of its growth projects.
View the Zacks #1 Rank List
Image: Bigstock
CDE is Trading at a Cheaper Valuation: Should Investors be Bullish?
Key Takeaways
Coeur Mining, Inc. (CDE - Free Report) is currently trading at a forward 12-month price-to-earnings multiple of 13.17X, below the Zacks Mining-Non Ferrous industry’s average of 25.28X and its five-year median.
The forward 12-month price-to-earnings multiples for First Majestic Silver Corp. (AG - Free Report) and Hecla Mining Company (HL - Free Report) are 3.29X and 11.23X, respectively. CDE has a Value Score of C, while AG has a score of D and HL has a score of F.
Technical indicators show that CDE has been trading above the 200-day simple moving average (SMA). The 50-day SMA is reading higher than the 200-day SMA, indicating a bullish trend.
Let’s look at the CDE’s fundamentals to analyze the stock better.
CDE Gains Momentum With Strong Q4 Production Growth
Coeur Mining recorded a strong fourth-quarter 2025 production performance. The improvement was driven by higher throughput and better ore grades across its operations. The company produced 112,429 ounces of gold and 4.6 million ounces of silver during the quarter. This marked a year-over-year increase of 29% in gold production and 49% in silver production. The results reflect steady progress in ramping up key assets within its portfolio.
The Rochester Mine remained the largest contributor to growth. The ongoing expansion project continued to advance during the quarter. This led to record operational activity at the site. Around 6.4 million tons of ore were crushed. About 9.3 million tons were placed on the leach pad. The mine produced 17,722 ounces of gold and 1.75 million ounces of silver.
At the Kensington Mine, gold production reached 29,567 ounces. This represented nearly a 10% increase from the prior-year quarter. The growth was supported by higher average gold grades. Increased mill throughput also contributed to the improvement.
The Wharf Mine reported a decline in production on a sequential basis. Output fell to 24,759 ounces of gold. The decrease was mainly due to reduced ore placement on the leach pad. This followed a fire incident at the tertiary crusher. The incident occurred during scheduled maintenance.
The Palmarejo Mine delivered stable performance compared with the previous year. The mine produced 25,662 ounces of gold and 1.6 million ounces of silver. Consistent underground mining supported these results. Ore grades also remained steady during the quarter.
The newly acquired Las Chispas Mine made a strong contribution to overall production. It delivered 14,719 ounces of gold and 1.4 million ounces of silver. The performance was driven by higher gold and silver grades.
Robust Operating and Free Cash Flow Surge Aids CDE
The company’s financial transformation reflects a more resilient and disciplined business model. It is rapidly deleveraging while continuing to fund growth initiatives and return capital to shareholders. Coeur Mining ended 2025 with a much stronger financial position. It reported $553.6 million in cash and cash equivalents, which represents a 904% increase compared to the same period last year.
During the fourth quarter, the company generated $374.6 million in cash flow from operating activities. This marks a substantial improvement from $64 million in the prior-year quarter. The growth was driven by solid operational performance, higher metal sales volumes and stronger realized prices for both gold and silver. Free cash flow for the fourth quarter was approximately $313 million.
Total debt declined to about $340.5 million by the end of the period. This reflects a 42% reduction from year-end 2024. As a result, its total debt-to-capital ratio declined to 9.3% from 34.3% a year ago.
Capital investment for the quarter was $61.4 million, taking full-year capital expenditures to $221.2 million. About 78% of the quarterly spending was allocated to sustaining capital, while the remaining 22% was directed toward development activities across its operating assets.
Coeur Expands Operations With Key Strategic Initiatives
Coeur Mining continued to advance several strategic projects and corporate initiatives during the fourth quarter of 2025. These efforts reinforce its long-term growth strategy and support operational expansion across North America.
One of the most significant developments was the ongoing ramp-up of the Rochester Mine expansion project. This project has transformed the operation into one of the largest primary silver producers in the United States. The expansion has enabled much higher ore placement rates and improved recovery levels.
At the same time, Coeur Mining is advancing work at its Silvertip Project. Ongoing exploration and development activities are focused on evaluating a potential restart of this high-grade silver, lead and zinc deposit. The project remains an important component of the company’s future growth pipeline.
Coeur Mining completed the acquisition of New Gold Inc. on March 20, 2026. This deal added the New Afton and Rainy River mines to its asset base. The acquisition further diversifies Coeur Mining’s production mix by increasing its exposure to gold, silver and copper. It also strengthens the company’s long-term production outlook and geographic footprint.
CDE Witnesses Downward Estimate Revision
The Zacks Consensus Estimate for 2026 and 2027 for CDE has been revised lower over the past 90 days.
The Zacks Consensus Estimate for CDE’s fiscal 2026 earnings is currently pegged at $1.43 per share, suggesting a year-over-year growth of 78.8%. The same for 2027 is pegged at $1.8 per share, indicating a year-over-year growth of 25.6%
CDE has gained 233.5% over the past year compared with the Zacks Mining-Non Ferrous industry’s 115.9% increase. It has outpaced AG’s 209.5%, HL’s 232.1% and the S&P 500’s 29.9% rise.
Price Performance of CDE vs. Industry, AG, HL and S&P 500
Final Thoughts: Hold Coeur Mining
Coeur Mining continues to demonstrate improving operational momentum and stronger financial health, supported by higher production, robust cash generation and a significant reduction in debt levels. Growth initiatives such as the Rochester expansion and the integration of the Las Chispas mine are expected to enhance the company’s long-term production profile.
However, some operational challenges remain as production at the Wharf mine declined after a fire incident temporarily reduced crushing capacity, highlighting potential operational risks across its asset base. CDE trades at a lower valuation than the industry average, which may encourage investors holding the stock to retain it while they monitor operational stability and the execution of its growth projects.
CDE currently carries a Zacks Rank #3 (Hold).
You can see the complete lists of Zacks Rank #1 (Strong Buy) stocks here.