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Coeur Mining (CDE) USD

Coeur Mining, Inc. is a gold and silver producer with operations in the United States, Canada, and Mexico. The company explores for and extracts precious and base metals, selling concentrates to refiners and smelters.

At a glance: strengths & risks
✓Revenue growing (+126% y/y, Q2 2026)✓Profit growing (+72% y/y, Q2 2026)✓Margins improving (42%→44%, Q2 2026)✓Net cash balance sheet✓Cheaper than own history (EV/EBITDA 7.7 vs avg 14.8)

Sector: Gold mining

Geography: United States, Mexico

COMM_CDE

Price chart

20.58 USDDay 1.18%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
20.58 USD · 1.18%
Market cap
13.2 bn USD

Growth

Δ revenue y/y
125.9%
Δ EBITDA y/y
134.5%

Multiples

P/E (LTM)
15.5x
3y avg: 42.9x
P/B (FY)
4.0x
P/E (ann.)
27.1x
EV/EBITDA (LTM)
7.7x
3y avg: 14.8x
EV/EBITDA (ann.)
6.4x

Cash return

Dividend yield
0.1%
FCF yield (LTM)
7.4%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-11.8%
↓ details

Liquidity

Daily turnover (listing)
368.6 mln USD

Shares: yahoo_fundamentals_timeseries/CDE

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK1085.6
y/y 125.9%
216.5
y/y 54.5%
256.0
y/y 316.8%
472.5
y/y 134.5%
121.9
y/y 72.3%
513.2-125.715203.7
y/y 266.3%
10409.5
y/y 268.0%
4.7%-1042.0Yahoo Finance
2026-03-31Q1 2026 (3M)OK856.2
y/y 137.8%
349.2
y/y 461.8%
99.8
y/y 131.7%
449.0
y/y 326.6%
246.8
y/y 639.8%
340.8-74.115261.3
y/y 275.3%
10412.3
y/y 278.8%
14.4%-817.3Link
2025-12-31Q4 2025 (3M)OK674.8
y/y 120.9%
327.7
y/y 393.0%
73.7
y/y 101.6%
401.3
y/y 289.7%
215.0
y/y 467.9%
374.6-61.34695.7
y/y 104.0%
3313.1
y/y 195.0%
18.3%-468.4Link
2025-09-30Q3 2025 (3M)OK554.6
y/y 76.9%
177.1
y/y 109.8%
72.9
y/y 119.6%
250.0
y/y 112.6%
266.8
y/y 447.5%
237.7-49.04512.2
y/y 102.5%
3093.8
y/y 185.6%
12.0%-228.4Link
2025-06-30Q2 2025 (3M)OK480.6
y/y 116.5%
140.1
y/y 740.2%
61.4
y/y 119.9%
201.5
y/y 351.8%
70.7
y/y 4859.7%
207.0-60.84150.9
y/y 93.7%
2828.4
y/y 174.1%
10.1%-68.2Link
2025-03-31Q1 2025 (3M)OK360.1
y/y 69.0%
62.2
y/y —
43.1
y/y 57.9%
105.2
y/y 339.6%
33.4
y/y —
67.6-50.04066.9
y/y 91.8%
2748.5
y/y 170.0%
6.9%-33.9Link
2024-12-31Q4 2024 (3M)OK305.4
y/y 16.5%
66.5
y/y 422.5%
36.5
y/y 5.5%
103.0
y/y 117.5%
37.9
y/y 248.4%
63.8-47.72301.7
y/y 10.6%
1123.3
y/y 9.7%
5.3%107.7Link
2024-09-30Q3 2024 (3M)OK313.5
y/y 61.1%
84.4
y/y —
33.2
y/y 45.1%
117.6
y/y 1394.1%
48.7
y/y —
111.1-42.02227.8
y/y 7.6%
1083.2
y/y 3.3%
6.1%-45.1Link
2024-06-30Q2 2024 (3M)OK222.0
y/y 25.3%
16.7
y/y —
27.9
y/y 42.5%
44.6
y/y —
1.4
y/y —
15.2-51.42143.0
y/y 8.7%
1031.8
y/y 4.4%
0.6%-45.2Link
2024-03-31Q1 2024 (3M)OK213.1
y/y 13.8%
-3.4
y/y —
27.3
y/y 20.2%
23.9
y/y 171.1%
-29.1
y/y —
-15.9-42.12120.1
y/y 12.2%
1018.1
y/y 7.6%
-11.4%-36.0Link
2023-12-31Q4 2023 (3M)OK262.1
y/y —
12.7
y/y —
34.6
y/y —
47.4
y/y —
-25.5
y/y —
65.3-92.72080.8
y/y —
1023.9
y/y —
-10.0%52.5Link
2023-09-30Q3 2023 (3M)OK194.6
y/y —
-15.0
y/y —
22.9
y/y —
7.9
y/y —
-21.1
y/y —
-2.4-112.32069.8
y/y —
1048.4
y/y —
-2.8%-27.4Link
2023-06-30Q2 2023 (3M)OK177.2
y/y —
-22.5
y/y —
19.6
y/y —
-3.0
y/y —
-32.4
y/y —
39.4-85.61972.1
y/y —
988.8
y/y —
-13.4%-33.7Link
2023-03-31Q1 2023 (3M)OK187.3
y/y —
-13.9
y/y —
22.7
y/y —
8.8
y/y —
-24.6
y/y —
-35.0-74.01889.4
y/y —
946.5
y/y —
—423.7Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)10
− Cash & equivalents1 052
Net debt-1 042

Net debt / LTM EBITDA: -0.7x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02505007501 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

0%100%200%300%400%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-10001002003004002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-1 250-1 000-750-500-25002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Worth a look
In a typical year of 2023–2025 operating cash flow came to 2.24x of reported net profit; after capex, 0.49x. Loss years (2023) are left out of the ratio.
year202320242025
cash flow / profit—2.96x1.51x
accruals, % of assets-8.2%-5.0%-6.4%
Last twelve months (to 2026-06-30): 1.72x of profit came back as operating cash flow.
net debt / EBITDA -0.5x · capex 1.6x of depreciation · share count +33.9% a year
● Diluted share count grew 33.9% a year.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Gold

Proved reserves
9.45 mln gold ounces eq.
2025
Reserve life (R/P)
14.7 yrs
reserves ÷ annual output
Annual production
0.64 mln gold ounces eq.
2025

Production, mln gold ounces eq.

0.5420150.5720160.5520170.5220180.5020190.4820200.5020210.4520220.4520230.4920240.642025

Proved reserves

YearReserves, mln gold ounces eq.
20259.45
20249.55
20238.55
20226.82
20214.81 *
20205.15 *
20193.14 *
20182.93 *
20173.28 *

Production

YearProduction, mln gold ounces eq.per day, mln gold ounces eq.
20260.18 * (3M)
+35.9%		0.00
20250.64
+31.7%		0.00
20240.49
+7.8%		0.00
20230.45
+0.0%		0.00
20220.45
−9.5%		0.00
20210.50
+4.8%		0.00
20200.48
−4.3%		0.00
20190.50
−4.5%		0.00
20180.52
−5.4%		0.00

* historical figures with reconstructed scale · * partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Gold

Current 4 348spot vs LTM +2%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -11.8% ▲ +0.1 pp 1d

Main driver: Gold +2% vs LTM; revenue ×1.03 vs costs ×1.08; EBITDA 1 579→1 171; at 12.0× EV/EBITDA → -12%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Gold (rev)+62%4 348.364 242.243 305.98+2%-22%
Silver (rev)+35%64.2762.3043.51+3%-30%
US Diesel Index (EIA) (cost)-12%5.974.214.16+42%-1%
Electricity Spot (cost)-8%57.8062.1952.40-7%-16%
Zinc (rev)+3%3 865.553 149.593 039.04+23%-4%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue3 171
LTM EBITDA1 579
LTM cash costs (revenue − EBITDA)1 593
2 · Revenue projection
Revenue multiplier — spot×1.033 (+3%)
= Spot revenue3 277
Revenue multiplier — 3y price×0.757 (-24%)
= 3-year-price revenue2 399
3 · Costs projection
Cost multiplier — spot×1.076 (+8%)
= Spot cash costs1 714
Cost multiplier — 3y price×1.018 (+2%)
= 3-year-price cash costs1 621
4 · EBITDA projection (revenue − costs)
= Spot EBITDA1 563
= 3-year-price EBITDA778
Conservative EBITDA = min(spot, avg)1 171
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)12.0x
Target EV = EV/EBITDA × conservative EBITDA14 047
Net debt-340
Target market cap = EV − net debt14 386
Current market cap13 214

Upside = target market cap ÷ current − 1 = -11.8%

Life of mine: 15 yrs — before haircut +8.9%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q3195200-2.8%815-47.5%
2023 Q4262199+31.4%4714+232.7%
2024 Q1213214-0.3%2423+4.8%
2024 Q2222251-11.6%4554-17.7%
2024 Q3313265+18.2%11871+65.6%
2024 Q4305302+1.0%103105-1.5%
2025 Q1360308+16.8%105112-6.1%
2025 Q2481361+33.3%202147+36.7%
2025 Q3555448+23.8%250207+20.9%
2025 Q4675609+10.9%401338+18.8%
2026 Q1856841+1.8%449553-18.8%
2026 Q21 086794+36.8%478454+5.3%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +96% vs +28% the year before — a +68.1 pp move. 3-year CAGR —.
revenue growth by year: 2024 +28% · 2025 +96%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 10.6x · target 75th pct (3y) 15.7x · LTM avg 20.0x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-220.02 USDEx-dividend: 0.02 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Coeur Mining (CDE) — from primary filings.

Frequently asked questions

What is Coeur Mining (CDE)'s P/E ratio?
Coeur Mining (CDE) trades at a P/E of 15.5x (price to trailing 12-month earnings).
What is Coeur Mining (CDE)'s EV/EBITDA?
Coeur Mining (CDE) trades at 7.7x EV/EBITDA.
What is Coeur Mining (CDE)'s P/B ratio?
Coeur Mining (CDE) trades at a P/B of 4.0x.
What is Coeur Mining (CDE)'s dividend yield?
Coeur Mining (CDE)'s trailing 12-month dividend yield is 0.1%.
What is Coeur Mining (CDE)'s return on equity (ROE)?
Coeur Mining (CDE)'s ROE is 4.7%.
What is Coeur Mining (CDE)'s market capitalization?
Coeur Mining (CDE)'s market cap is 13.2 bn USD.

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