Upside case
Bull case
$29+56.9%
CDE would need investors to value it at roughly 15x earnings — about 5x more generous than today's 9x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Coeur Mining, Inc. (CDE) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
21
analysts
11 bullish · 1 bearish · 21 covering CDE
Strong Buy
0
Buy
11
Hold
9
Sell
1
Strong Sell
0
Consensus Target
$29
+54.7% vs today
Scenario Range
— – $29
Model bear to bull value window
Coverage
21
Published analyst ratings
Valuation Context
9.4x
Forward P/E · Market cap $12.0B
CDE price targets
Three scenarios for where CDE stock could go
Current
~$19
Confidence
29 / 100
Updated
May 1, 2026
Where we are now
Current · $19
Base
$25
Bull
$29
Market caseClosest to today
Base case
$25+35.0%
At 13x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Coeur Mining, Inc.
CDE · NYSEBasic MaterialsGoldDecember year-end
Coeur Mining is a precious metals mining company that operates gold and silver mines across North America. It generates revenue primarily from selling gold (~60% of revenue) and silver (~30%), with the remainder from zinc and lead byproducts. The company's competitive advantage lies in its diversified portfolio of long-life mines in stable jurisdictions—primarily the U.S., Canada, and Mexico—which reduces geopolitical risk.
Market Cap
$12.0B
Revenue TTM
$2.6B
Net Income TTM
$799M
Net Margin
31.1%
CDE Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
33%Exceptional
12 quarters tracked
Revenue Beat Rate
33%Exceptional
vs consensus estimates
Avg EPS Surprise
-94.5%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 2 of 4Q2 2025
EPS
$0.11/$0.02
Revenue
$360M/$313M
Q3 2025
EPS
$0.20/$0.18
Revenue
$481M/$510M
Q4 2025
EPS
$0.23/$0.25
Revenue
$555M/$669M
Q1 2026
EPS
$0.35/$0.39
Revenue
$675M/$688M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $0.11/$0.02 | +450.0% | $360M/$313M | +15.0% |
| Q3 2025 | $0.20/$0.18 | +11.1% | $481M/$510M | -5.8% |
| Q4 2025 | $0.23/$0.25 | -8.0% | $555M/$669M | -17.1% |
| Q1 2026 | $0.35/$0.39 | -10.3% | $675M/$688M | -1.9% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$2.8B
+66.3% YoY
FY2
$3.6B
+27.7% YoY
EPS Outlook
FY1
$0.98
+55.6% YoY
FY2
$1.22
+24.3% YoY
Trailing FCF (TTM)$915M
FCF Margin: 35.6%
Next Earnings
May 6, 2026
Expected EPS
$0.44
Expected Revenue
$806M
CDE beat EPS estimates in 2 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
CDE Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $2.1B
Product Mix
Latest annual revenue by segment or product family
Gold
64.9%
+82.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
56.8%
+74.1% YoY
Tap, hover, or focus a slice to inspect segment detail.
Gold is the largest disclosed segment at 64.9% of FY 2025 revenue, up 82.9% YoY.
UNITED STATES is the largest reported region at 56.8%, up 74.1% YoY.
CDE Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Overvalued
Fair value est. $15 — implies -16.2% from today's price.
Premium to Fair Value
16.2%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
CDE
20.8x
vs
S&P 500
25.2x
17% discount
vs Basic Materials Trailing P/E
CDE
20.8x
vs
Basic Materials
22.9x
9% discount
vs CDE 5Y Avg P/E
Today
20.8x
vs
5Y Average
29.0x
28% discount
Forward PE
9.4x
S&P 500
19.1x
-51%
Basic Materials
15.4x
-39%
5Y Avg
—
—
Trailing PE
20.8x
S&P 500
25.2x
-17%
Basic Materials
22.9x
-9%
5Y Avg
29.0x
-28%
PEG Ratio
0.40x
S&P 500
1.75x
-77%
Basic Materials
1.22x
-67%
5Y Avg
—
—
EV/EBITDA
11.6x
S&P 500
15.3x
-24%
Basic Materials
11.4x
+1%
5Y Avg
12.5x
-7%
Price/FCF
18.1x
S&P 500
21.3x
-15%
Basic Materials
27.5x
-34%
5Y Avg
17.4x
+4%
Price/Sales
5.8x
S&P 500
3.1x
+86%
Basic Materials
2.0x
+196%
5Y Avg
2.4x
+146%
Dividend Yield
—
S&P 500
1.88%
—
Basic Materials
1.37%
—
5Y Avg
—
—
| Metric | CDE | S&P 500 | Basic Materials | 5Y Avg CDE |
|---|---|---|---|---|
| Forward PE | 9.4x | 19.1x-51% | 15.4x-39% | — |
| Trailing PE | 20.8x | 25.2x-17% | 22.9x | 29.0x-28% |
| PEG Ratio | 0.40x | 1.75x-77% | 1.22x-67% | — |
| EV/EBITDA | 11.6x | 15.3x-24% | 11.4x | 12.5x |
| Price/FCF | 18.1x | 21.3x-15% | 27.5x-34% | 17.4x |
| Price/Sales | 5.8x | 3.1x+86% | 2.0x+196% | 2.4x+146% |
| Dividend Yield | — | 1.88% | 1.37% | — |
CDE trades above S&P 500 benchmarks on 1 of 6 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolCDE Financial Health
Verdict
Exceptional
CDE generates $915M in free cash flow at a 35.6% margin — 23.5% ROIC signals a durable competitive advantage.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$2.6B
Revenue Growth
TTM vs prior year
+113.7%
Gross Margin
Gross profit as a share of revenue
35.4%
Operating Margin
Operating income divided by revenue
39.4%
Net Margin
Net income divided by revenue
31.1%
EPS (TTM)
Diluted earnings per share, trailing twelve months
—
Free Cash Flow (TTM)
Cash generation after capex
$915M
FCF Margin
FCF as share of revenue — the primary cash quality signal
35.6%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
23.5%
ROA
Return on assets, trailing twelve months
11.2%
Cash & Equivalents
Liquid assets on the balance sheet
$554M
Net Cash
Cash exceeds total debt — no net leverage
$188M
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE
Return on equity, trailing twelve months
15.2%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.1%
Dividend
—
Buyback
0.1%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$10M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
642M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageCDE Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Commodity Price Volatility
Coeur Mining's stock price is highly sensitive to fluctuations in gold and silver prices. A downturn in precious metal markets, driven by factors like rising U.S. Treasury yields and a stronger dollar, can negatively impact the company's stock.
High Risk
Financial Outlook Pressure
Despite improvements in operational performance and a reduced net leverage ratio, the overall financial outlook for Coeur Mining remains pressured. This suggests potential vulnerabilities that could hinder future growth.
Medium
Valuation Sustainability
There's a concern about the sustainability of Coeur Mining's valuation, with a projected downside scenario involving a significant contraction in target price multiples. This could lead to a reevaluation of the stock's worth.
Medium
Debt Exchange Impact
The recent completion of a large note exchange tied to the New Gold transaction might lead to incremental profit-taking and position adjustments, affecting the stock price. This could create volatility in the near term.
Medium
Cyclical Nature of the Industry
As a commodity-levered company, Coeur Mining's stock can experience near-term trading volatility, especially around earnings releases. This cyclical nature can lead to unpredictable stock performance.
Lower
Broader Market Sentiment
The overall sentiment in the precious metals sector can influence CDE. Increased volatility in macro headlines can lead to a weakening of broader precious metals sentiment.
Lower
Technical Factors
The stock's price action can be influenced by technical indicators, such as its position relative to short-term and medium-term moving averages, and levels of support and resistance.
Lower
Insider Trading
While not always indicative of future performance, insider trading activity, such as sales by company executives, can be a factor investors monitor. This activity may signal confidence or lack thereof in the company's future.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why CDE Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Merger with New Gold
A pending merger with New Gold is expected to significantly scale the combined company, creating a platform with seven operating assets across North America. This increased scale is anticipated to enhance operational diversification, asset longevity, and cash flow resilience.
Operational Progress and Expansion
Coeur Mining has demonstrated consistent profitability with six consecutive profitable quarters and strong revenue growth. Production expansion initiatives, such as the Rochester expansion and the integration of Las Chispas, indicate a focus on growth.
Financial Strength
The company has a solid balance sheet with substantial cash reserves against its debt, providing financial flexibility. Recent reports show strong operating cash flow and reduced debt levels, with significant increases in cash and cash equivalents.
Undervaluation
Third-party valuations suggest a higher intrinsic value than the current market price, indicating a potential disconnect between market price and fundamentals. Discounted Cash Flow (DCF) analysis suggests the stock is undervalued.
Positive Technical Indicators
Technical indicators show CDE trading above its 50-day and 200-day simple moving averages, suggesting a bullish trend.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
CDE Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$18.74
52W Range Position
59%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$5.51
+240.1% from the low
52-Week High
$27.77
-32.5% from the high
1 Month
+0.81%
3 Month
-12.59%
YTD
+6.8%
1 Year
+223.7%
3Y CAGR
+74.6%
5Y CAGR
+15.2%
10Y CAGR
+9.0%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
CDE vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
9.4x
vs 13.2x median
-28% below peer median
Revenue Growth
+66.3%
vs +30.3% median
+119% above peer median
Net Margin
31.1%
vs 27.6% median
+13% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
CDE CDE Coeur Mining, Inc. | $12.0B | 9.4x | +66.3% | 31.1% | Buy | +54.7% |
HL HL Hecla Mining Company | $12.2B | 19.1x | +30.3% | 35.6% | Hold | +31.3% |
EXK EXK Endeavour Silver Corp. | $2.7B | 13.2x | +29.1% | -28.4% | Buy | +36.9% |
PAA PAAS Pan American Silver Corp. | $23.8B | 12.1x | +32.9% | 27.1% | Buy | +32.5% |
FSM FSM Fortuna Mining Corp. | $3.0B | 6.7x | +9.7% | 27.6% | Buy | +42.3% |
AEM AEM Agnico Eagle Mines Limited | $95.1B | 13.6x | +31.7% | 37.5% | Buy | +25.2% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
CDE Dividend and Capital Return
CDE does not currently return meaningful capital to shareholders.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.1%
Dividend + buyback return per year
Buyback Yield
0.1%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
Annual
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$10M
Estimated Shares Retired
513.6K
Approx. Share Reduction
0.1%
Shares Outstanding
Current diluted share count from the screening snapshot
642M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 1997 | $1.50 | 0.0% | 0.0% | 5.4% |
| 1996 | $1.50 | 0.0% | 0.0% | 3.4% |
| 1995 | $1.50 | 0.0% | 0.0% | 0.8% |
| 1994 | $1.50 | 0.0% | 0.0% | 0.9% |
| 1993 | $1.50 | 0.0% | 0.0% | 0.7% |
FAQ
7 questionsCDE Investor Questions
Common questions answered from live analyst data and company financials.
01Is Coeur Mining, Inc. (CDE) stock a buy or sell in 2026?
Coeur Mining, Inc. (CDE) is rated Buy by Wall Street analysts as of 2026. Of 21 analysts covering the stock, 11 rate it Buy or Strong Buy, 9 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $29, implying +54.7% from the current price of $19.
02What is the CDE stock price target for 2026?
The Wall Street consensus price target for CDE is $29 based on 21 analyst estimates. The high-end target is $40 (+113.4% from today), and the low-end target is $24 (+28.1%). The base case model target is $25.
03Is Coeur Mining, Inc. (CDE) stock overvalued in 2026?
CDE trades at 9.4x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Coeur Mining, Inc. (CDE) stock in 2026?
The primary risks for CDE in 2026 are: (1) Commodity Price Volatility — Coeur Mining's stock price is highly sensitive to fluctuations in gold and silver prices. (2) Financial Outlook Pressure — Despite improvements in operational performance and a reduced net leverage ratio, the overall financial outlook for Coeur Mining remains pressured. (3) Valuation Sustainability — There's a concern about the sustainability of Coeur Mining's valuation, with a projected downside scenario involving a significant contraction in target price multiples. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Coeur Mining, Inc.'s revenue and earnings forecast?
Analyst consensus estimates CDE will report consensus revenue of $2.8B (+66.3% year-over-year) and EPS of $0.98 (+55.6% year-over-year) for the upcoming fiscal year. The following year, analysts project $3.6B in revenue.
06When does Coeur Mining, Inc. (CDE) report its next earnings?
Coeur Mining, Inc. is expected to report its next earnings on approximately 2026-05-06. Consensus expects EPS of $0.44 and revenue of $806M. Over recent quarters, CDE has beaten EPS estimates 33% of the time.
07How much free cash flow does Coeur Mining, Inc. generate?
Coeur Mining, Inc. (CDE) generated $915M in free cash flow over the trailing twelve months — a free cash flow margin of 35.6%. CDE returns capital to shareholders through and share repurchases ($10M TTM).