Coeur Mining
CDE
$20.97
-0.66%
Coeur Mining, Inc. is a precious metals producer focused on gold and silver mining across the Americas, with operating mines including Palmarejo, Rochester, Wharf, and Kensington. The company is a mid-tier player in the gold industry, distinguished by its diversified asset base across the U.S., Canada, and Mexico, with the majority of revenue generated from the United States. Currently, the stock is attracting attention due to a transformative acquisition that has expanded its reserve base, while investors debate the impact of volatile precious metal prices on near-term earnings and the company's ability to deleverage and return capital to shareholders.…
CDE
Coeur Mining
$20.97
Related headlines
Investment Opinion: Should I buy CDE Today?
Rating: Buy. Coeur Mining offers a compelling risk/reward with strong growth, attractive valuation, and analyst support. The consensus is Buy with an average target of $23.32, implying 11.2% upside. The thesis is driven by the transformative acquisition, which has expanded reserves and revenue, and the potential for continued earnings growth.
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CDE 12-Month Price Forecast
The AI assessment is bullish, driven by the company's explosive revenue growth and attractive forward valuation. The forward PE of 10.18x suggests the market is pricing in significant earnings growth, which is supported by analyst estimates. However, the medium confidence reflects the high volatility in metal prices and the integration risks. If the company can maintain its growth trajectory and metal prices remain supportive, the stock has upside to the average target of $23.32. A downgrade would occur if revenue growth decelerates below 20% or if metal prices enter a sustained downturn.
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Coeur Mining's 12-month outlook, with a consensus price target around $23.32 and implied upside of +11.2% versus the current price.
Average Target
$23.32
0 analysts
Implied Upside
+11.2%
vs. current price
Analyst Count
—
covering this stock
Price Range
$18 - $35
Analyst target range
Coeur Mining is covered by 11 analysts, with a consensus recommendation of 'Buy' and a mean recommendation score of 1.73 (where 1 is Strong Buy and 5 is Sell). The average target price is $23.32, which implies an upside of 11.2% from the current price of $20.97. The distribution includes 7 Buy ratings, 3 Hold ratings, and 1 Sell rating, indicating a moderately bullish sentiment. The high target of $35.00 suggests a potential upside of 66.9%, while the low target of $18.00 implies a downside of 14.2%, reflecting a wide range of expectations. The wide spread between the high and low targets indicates significant uncertainty, likely due to volatility in precious metal prices and the integration risks associated with the recent acquisition. Recent ratings actions show a mix of upgrades and downgrades, with Canaccord Genuity upgrading from Hold to Buy in April 2026, while other firms have maintained positive ratings, suggesting a generally constructive outlook.
Bulls vs Bears: CDE Investment Factors
Coeur Mining presents a compelling growth story with explosive revenue growth, strong profitability, and an attractive forward valuation. The bull case is supported by a 137.8% YoY revenue surge, a forward PE of 10.18x, and analyst consensus Buy with 11.2% upside. However, the bear case highlights significant risks from metal price volatility, integration challenges, and a high beta of 1.343. Currently, the bull case has stronger evidence given the company's operational performance and undervalued reserves, but the single most important tension is the sustainability of precious metal prices. If gold and silver prices continue to decline, the stock could face severe downside despite strong fundamentals.
Bullish
- Explosive Revenue Growth: Q1 2026 revenue surged 137.8% YoY to $856.2M, driven by the acquisition and higher metal prices. The multi-quarter trend shows accelerating growth from $360.1M in Q1 2025 to $856.2M in Q1 2026, demonstrating strong momentum.
- Attractive Forward Valuation: Forward PE of 10.18x is significantly lower than trailing PE of 19.38x, implying the market expects substantial earnings growth. This is supported by analyst EPS estimates of $0.93 for the next year, representing a 47.5% increase from current levels.
- Strong Profitability Metrics: Q1 2026 net margin was 28.3% and operating margin was 36.3%, reflecting efficient operations and favorable metal prices. ROE stands at 17.7%, indicating strong returns on shareholder equity.
- Analyst Consensus Buy: With 11 analysts, the consensus is 'Buy' with a mean score of 1.73 (1=Strong Buy). The average target price of $23.32 implies 11.2% upside, while the high target of $35.00 suggests 66.9% potential upside.
Bearish
- High Valuation Vulnerability: The stock's high valuation makes it vulnerable to declines in gold and silver prices. Recent news indicates that falling metal prices due to inflation concerns and a stronger dollar have already caused significant drops, with the stock falling from $27.77 to $14.16 in a few months.
- Significant Price Volatility: Beta of 1.343 indicates 34.3% more volatility than the market. The stock experienced a max drawdown of -47.85% over the past year, highlighting the risk of sharp declines.
- Integration Risks from Acquisition: The transformative acquisition has expanded reserves but introduces integration risks. Operational challenges or cost overruns could impact earnings, as seen in the wide range of analyst targets ($18 to $35).
- Dependence on Metal Prices: Revenue is heavily tied to gold and silver prices, which are volatile. Q1 2026 revenue was 55.5% gold and 42.3% silver, making earnings highly sensitive to commodity price fluctuations.
CDE Technical Analysis
Coeur Mining's stock has exhibited a strong long-term uptrend, with a 1-year price change of +79.69%, significantly outperforming the S&P 500's +20.48% over the same period. The current price of $20.97 sits at 75.5% of its 52-week range (low of $11.50, high of $27.77), indicating the stock is trading in the upper half of its range but below the highs, suggesting momentum is intact but not overextended. The stock's beta of 1.343 implies it is 34.3% more volatile than the market, which is typical for a precious metals miner and underscores the importance of position sizing.
Beta
1.34
1.34x market volatility
Max Drawdown
-47.9%
Largest decline past year
52-Week Range
$12-$28
Price range past year
Annual Return
+79.7%
Cumulative gain past year
| Period | CDE Return | S&P 500 |
|---|---|---|
| 1m | +32.4% | +3.6% |
| 3m | +18.9% | +2.7% |
| 6m | -14.9% | +11.4% |
| 1y | +79.7% | +18.7% |
| ytd | +19.5% | +12.3% |
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CDE Fundamental Analysis
Revenue has grown dramatically, with Q1 2026 revenue of $856.2 million, up 137.8% year-over-year from $360.1 million in Q1 2025, driven by the acquisition and higher metal prices. The multi-quarter trend shows accelerating growth: Q2 2025 revenue was $480.7 million, Q3 2025 was $554.6 million, Q4 2025 was $674.8 million, and Q1 2026 reached $856.2 million, indicating a strong upward trajectory. The company's revenue is primarily from gold ($475.2 million) and silver ($362.2 million) segments, with gold contributing 55.5% of total revenue, reflecting its core focus.
Quarterly Revenue
$856192000.0B
2026-03
Revenue YoY Growth
+137.8%
YoY Comparison
Gross Margin
46.2%
Latest Quarter
Free Cash Flow
$914841000.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is CDE Overvalued?
Given that Coeur Mining is profitable (net income of $246.8 million in Q1 2026), the PE ratio is the most appropriate valuation metric. The trailing PE is 19.38x, while the forward PE is 10.18x, implying the market expects significant earnings growth, which is consistent with the company's recent performance and analyst estimates. The gap between trailing and forward PE suggests that the market is pricing in a 47.5% increase in earnings per share over the next year, reflecting optimism about continued strong metal prices and operational improvements.
PE
19.4x
Latest Quarter
vs. Historical
High-End
5-Year PE Range 5x~23x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
11.3x
Enterprise Value Multiple
Investment Risk Disclosure
Financial & Operational Risks: Coeur Mining's financial health is solid with a debt-to-equity ratio of 0.11 and current ratio of 2.0, but the company's earnings are highly sensitive to metal prices. Q1 2026 net income of $246.8M was strong, but a 10% drop in gold prices could significantly reduce margins. The company's reliance on a few mines (Palmarejo, Rochester, Wharf, Kensington) creates operational concentration risk, and any disruption could impact production. Free cash flow is positive at $914.8M TTM, but the recent acquisition has increased capital expenditures, and integration costs could pressure near-term cash flows.