CDE vs. AUGO: Which Mining Stock Offers Better Upside Today?

Soumya Roy April 29, 2026

CDE AUGO

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Key Takeaways

Coeur Mining targets 390K-460K gold ounces and up to 21.3 Moz silver for 2026 production.
Coeur Mining's Rochester ramp-up and SilverCrest acquisition aim to boost output and margins.
Aura Minerals produced 82,137 GEOs in Q1'26, driven by Borborema ramp-up and MSG assets.

Coeur Mining, Inc. (CDE - Free Report) and Aura Minerals Inc. (AUGO - Free Report) are both navigating a favorable yet volatile precious metals landscape, where elevated gold and silver prices, persistent macroeconomic uncertainty and safe-haven demand underpin revenue potential but also introduce earnings variability.

Coeur Mining has entered 2026 with strengthened financials and improving operational momentum, driven by higher grades and expansion across key U.S.-based assets, while remaining exposed to cost inflation and metal price swings.

Aura Minerals is leveraging its diversified asset base across Latin America to deliver production growth and reserve expansion, supported by disciplined capital allocation and a robust project pipeline. Both companies are focused on execution, cost control and asset optimization.

Let’s dive deep and closely compare the fundamentals of these two miners to determine which one is a better investment now.

The Case for CDE

Coeur Mining is expected to begin 2026 on a steady footing, with first-quarter production tracking toward its full-year guidance of 390K–460K ounces of gold and 18.2–21.3 million ounces (Moz) of silver, implying a quarterly run-rate of roughly 98K–115K gold ounces and 4.6–5.3 million silver ounces.

In 2026, Rochester is likely to lead output with 6.4–7.8 Moz silver and 70K–90K ounces of gold, benefiting from continued ramp-up, while Palmarejo should deliver 95K–105K ounces of gold and 6.25–7 Moz silver on stable grades. Kensington and Wharf are expected to provide steady contributions of 98K–119K ounces and 72K–90K ounces of gold, respectively, reinforcing baseline volumes. Las Chispas, though subject to sequencing variability, should add 55K–65K oz gold and 5.5–6.3 Moz silver of high-grade output.

Coeur Mining is advancing key projects and strategic initiatives to support long-term growth. The expansion at Rochester Mine continued to ramp up and is transforming the site into a major silver producer. Higher ore placement and improved recoveries are expected to drive sustained production and stronger cash flow.

The company strengthened its portfolio with the acquisition of SilverCrest Metals, which added the high-grade Las Chispas Mine. This is set to boost margins and increase exposure to high-grade underground assets.

Work is also progressing at the Silvertip Project as Coeur Mining evaluates a potential restart. The company announced plans to acquire New Gold Inc. The deal is expected to close in 2026 and would add the New Afton and Rainy River mines, further diversifying production across gold, silver and copper.

Coeur Mining ended the fiscal 2025 with a significantly strengthened financial footing, holding $553.6 million in cash and equivalents. The company generated $886.9 million in cash flow from operating activities during the year. Long-term debt on Dec. 31, 2025, was $323.5 million. The total debt to capital ratio was 9.3%.

The Case for AUGO

Aura Minerals reported strong first-quarter 2026 production results with total output reaching approximately 82,137 gold equivalent ounces (GEO). The improvement was supported by several operational drivers across its portfolio.

The Borborema project contributed meaningfully as it advanced through its ramp-up phase and added incremental volumes of 17,101 GEOs. The Almas operation also delivered a higher output of 15,838 GEOs following the completion of its plant expansion, which improved throughput levels. At Apoena, production benefited from higher grades and better recovery rates. It delivered 7,525 GEOs for the quarter. The company strengthened its production base through the acquisition of the MSG assets, which was completed in December 2025 and began contributing to results toward the end of the fourth quarter, and contributed 8,580 GEOs.

While some operations, such as Aranzazu and Minosa, faced temporary challenges due to lower grades and weather-related disruptions, the overall impact was limited due to the company’s diversified asset base.

Aura Minerals outlined several notable project advancements and strategic initiatives, underscoring its emphasis on growth, operational efficiency and portfolio expansion. The Borborema project in Brazil continued to scale up successfully, with production increasing significantly on a quarter-over-quarter basis.

At the same time, the company began integrating the Mineração Serra Grande (MSG) operation, which was acquired in early December 2025, with initial output from the asset contributing to overall production during the period.

Aura continued to advance its development pipeline during the quarter. The company conducted key studies at the Era Dorada project in Guatemala. This reflects its focus on building future sources of production. Spending was directed toward core operations such as Aranzazu and Almas. Aura pursued broader exploration efforts across its portfolio.

Aura Minerals ended fourth-quarter 2025 with a significantly strengthened financial footing, holding $286.1 million in cash and equivalents. The company generated $305 million in cash flow from operating activities during the year. Long-term debt at the end of 2025 was $311.6 million. The total debt to capital ratio was 60.7%.