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Coeur Mining (CDE) USD

At a glance: strengths & risks
Revenue growing (+96%)Profit growing (+895%)Margins improving (27%→46%)Net cash balance sheetCheaper than own history (EV/EBITDA 7.3 vs avg 14.8)

Sector: Gold mining

Geography: United States, Mexico

COMM_CDE

Price chart

18.45 USDDay -1.86%

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
18.45 USD · -1.86%
Market cap
11.8 bn USD

Growth

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

Multiples

P/E (LTM)
13.9x
3y avg: 42.9x
P/B (FY)
3.6x
P/E (ann.)
24.3x
EV/EBITDA (LTM)
7.3x
3y avg: 14.8x
EV/EBITDA (ann.)
6.1x

Cash return

Dividend yield
0.1%
FCF yield (LTM)
2.3%

Value creation

to target market cap (spot commodity model)
Upside (potential)

Liquidity

Daily turnover (listing)
828.7 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%-339.1Link
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) 2026-03-31

Short-term debt (incl. ST leases)26
− Cash & equivalents843
Net debt-817

Net debt / LTM EBITDA: -0.5x

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)

-1 000-800-600-400-20002002024 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 / profit2.96x1.51x
accruals, % of assets-8.2%-5.0%-6.4%
Last twelve months (to 2025-Q3): 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.

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 352spot vs LTM +2%

Commodity-player potential

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

Upside: -21.9% ▼ -1.3 pp 1d

Main driver: Gold +3% vs LTM; revenue ×1.03 vs costs ×1.06; EBITDA 1 579→1 160; at 9.6× EV/EBITDA → -22%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Gold (rev)+62%4 352.154 242.243 233.86+3%-24%
Silver (rev)+35%64.4662.3042.29+3%-32%
US Diesel Index (EIA) (cost)-12%5.264.214.13+25%-2%
Electricity Spot (cost)-8%57.8062.1952.40-7%-16%
Zinc (rev)+3%3 737.453 149.592 998.10+19%-5%

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×1.034 (+3%)
= Spot revenue3 278
Revenue multiplier — 3y price×0.739 (-26%)
= 3-year-price revenue2 343
3 · Costs projection
Cost multiplier — spot×1.056 (+6%)
= Spot cash costs1 682
Cost multiplier — 3y price×1.017 (+2%)
= 3-year-price cash costs1 620
4 · EBITDA projection (revenue − costs)
= Spot EBITDA1 597
= 3-year-price EBITDA723
Conservative EBITDA = min(spot, avg)1 160
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)9.6x
Target EV = EV/EBITDA × conservative EBITDA11 088
Net debt-340
Target market cap = EV − net debt11 428
Current market cap11 847

Upside = target market cap ÷ current − 1 = -21.9%

Life of mine: 15 yrs — before haircut -3.5%

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 2.5x · target 75th pct (3y) 9.6x · LTM avg 12.7x

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.

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.

Frequently asked questions

What is Coeur Mining (CDE)'s P/E ratio?
Coeur Mining (CDE) trades at a P/E of 13.9x (price to trailing 12-month earnings).
What is Coeur Mining (CDE)'s EV/EBITDA?
Coeur Mining (CDE) trades at 7.3x EV/EBITDA.
What is Coeur Mining (CDE)'s P/B ratio?
Coeur Mining (CDE) trades at a P/B of 3.6x.
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 11.8 bn USD.

See also: Gold Mining Stocks: The Cheapest Gold Miners by Valuation (2026) · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map