olivLaw · US equity research
Coeur Mining, Inc. CDE
Gold and Silver Ores · SIC 1040 · Vertical: Gold and Silver Ores (SIC 1040)
Coeur Mining is a precious metals producer with assets in the United States, Canada and Mexico, which recently expanded its portfolio through the New Gold acquisition. The second quarter of 2026 was a record for the company, with revenue of 1.1 billion USD and a gold output pace that could support the updated annual target of 690,000 ounces.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Coeur Mining, Inc. (CDE) stock was 14.58 USD (+8.72% on the day), with market capitalisation 14.9 bn USD, P/E 16.0 on diluted EPS of 0.91 USD over the last 12 months, beta 1.83, 52-week range 13.10–27.15 USD. Latest reported quarter (Q3 2026): revenue of 983.6 m USD (+77.4% YoY), net income of 109.4 m USD (−59.0% YoY), diluted EPS 0.11 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 43.6
- weak (30–45)
- Bollinger (20, 2)
- 12.41 – 17.24
- in the lower half of the band · %B 0.45 · band width 32.6%
- SMA 50 / 200
- 17.69 / 18.79
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -1.09 / -1.16
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −14.5% | −1.1% | −13.4 pp | — |
| 3 months | −16.4% | −0.5% | −15.9 pp | — |
| 6 months | −22.2% | +4.4% | −26.6 pp | — |
| Year to date | −18.2% | +12.3% | −30.5 pp | — |
| 1 year | +5.5% | +13.5% | −8.0 pp | −9.2% |
| 3 years | +465.1% | +76.4% | +388.7 pp | +142.0% |
| 5 years | +110.1% | +63.7% | +46.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 305.4 m | 360.1 m | 480.7 m | 554.6 m | 674.8 m | 856.2 m | 1.1 bn | 983.6 m |
| Operating income | 66.5 m | 62.2 m | 140.1 m | 177.1 m | 327.7 m | 349.2 m | 216.5 m | 174.5 m |
| Depreciation & amortisation | 36.5 m | 43.1 m | 61.4 m | 72.9 m | 73.7 m | 99.8 m | 256.0 m | 261.2 m |
| Interest expense | 11.9 m | — | — | — | — | — | — | — |
| Pre-tax income | 56.3 m | 51.8 m | 133.3 m | 169.9 m | 327.5 m | 348.7 m | 215.1 m | 174.3 m |
| Income tax | 18.4 m | 18.4 m | 62.6 m | -96.9 m | 112.5 m | 102.0 m | 93.2 m | 64.9 m |
| Net income | 37.9 m | 33.4 m | 70.7 m | 266.8 m | 215.0 m | 246.8 m | 121.9 m | 109.4 m |
| Diluted EPS | 0.09 ≈ | 0.06 | 0.11 | 0.41 | 0.33 ≈ | 0.35 | 0.12 | 0.11 |
| Operating cash flow | 63.8 m | 67.6 m | 207.0 m | 237.7 m | 374.6 m | 340.8 m | 513.2 m | 385.6 m |
| Capex | 47.7 m | 50.0 m | 60.8 m | 49.0 m | 61.3 m | 74.1 m | 125.7 m | 145.4 m |
| Dividends paid | — | — | 0 | 0 | — | — | 20.6 m | 0 |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 14 percentile of its own 14-quarter history (min 13.5, median 27.8, max 103.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 625.9 m | 711.5 m | 785.5 m | 832.8 m | 785.6 m | 821.2 m | 1.1 bn | 2.1 bn |
| Revenue YoY | −11.8% | +13.7% | +10.4% | +6.0% | −5.7% | +4.5% | +28.3% | +96.4% |
| Net income | -48.4 m | -341.2 m | 25.6 m | -31.3 m | -78.1 m | -103.6 m | 58.9 m | 585.9 m |
| Net income YoY | unavailable | unavailable | unavailable | −222.2% | unavailable | unavailable | unavailable | +894.7% |
| Diluted EPS | -0.26 | -1.56 | 0.11 | -0.13 | -0.28 | -0.30 | 0.15 | 0.95 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | −218.2% | unavailable | unavailable | unavailable | +533.3% |
| net % | -7.7% | -48.0% | 3.3% | -3.8% | -9.9% | -12.6% | 5.6% | 28.3% |
| Free cash flow | -123.4 m | -7.9 m | 49.4 m | -199.3 m | -326.7 m | -297.3 m | -9.0 m | 665.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 553.6 m USD
- Financial debt
- 17.0 m USD
- Net debt
- -536.6 m USD
- Equity
- 3.3 bn USD
- Total assets
- 4.7 bn USD
- Debt / equity
- 0.01x
- Current ratio
- 2.47x
- ROE
- 26.4%
- ROA
- 16.7%
- FCF margin
- 32.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 785.5 m | 832.8 m | 785.6 m | 821.2 m | 1.1 bn | 2.1 bn | SEC (XBRL)· 18 Feb 2026verified |
| Operating income | — | — | -39.3 m | -38.7 m | 164.2 m | 707.0 m | SEC (XBRL)· 18 Feb 2026verified |
| Depreciation & amortisation | 131.4 m | 128.3 m | 111.6 m | 99.8 m | 125.0 m | 251.1 m | SEC (XBRL)· 18 Feb 2026verified |
| EBITDA | — | — | 72.4 m ≈ | 61.1 m ≈ | 289.2 m ≈ | 958.1 m ≈ | SEC (XBRL)· 18 Feb 2026derived |
| Interest expense | 20.7 m | 16.5 m | 23.9 m | 29.1 m | 51.3 m | — | SEC (XBRL)· 19 Feb 2025verified |
| Pre-tax income | 62.7 m | 3.6 m | -63.4 m | -68.5 m | 126.4 m | 682.5 m | SEC (XBRL)· 18 Feb 2026verified |
| Income tax | 37.0 m | 35.0 m | 14.7 m | 35.2 m | 67.5 m | 96.7 m | SEC (XBRL)· 18 Feb 2026verified |
| Net income | 25.6 m | -31.3 m | -78.1 m | -103.6 m | 58.9 m | 585.9 m | SEC (XBRL)· 18 Feb 2026verified |
| Diluted EPS | 0.11 | -0.13 | -0.28 | -0.30 | 0.15 | 0.95 | SEC (XBRL)· 18 Feb 2026verified |
| Weighted average diluted shares | 242.5 m | 250.0 m | 275.2 m | 343.1 m | 397.4 m | 614.7 m | SEC (XBRL)· 18 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 92.8 m | 56.7 m | 61.5 m | 61.6 m | 55.1 m | 553.6 m | SEC (XBRL)· 18 Feb 2026verified |
| Receivables | 23.5 m | 32.4 m | 36.3 m | 31.0 m | 29.9 m | 69.2 m | SEC (XBRL)· 18 Feb 2026verified |
| Inventories | 51.2 m | 51.3 m | 61.8 m | 76.7 m | 78.6 m | 163.3 m | SEC (XBRL)· 18 Feb 2026verified |
| Current assets | 269.6 m | 289.6 m | 300.4 m | 267.3 m | 273.1 m | 972.7 m | SEC (XBRL)· 18 Feb 2026verified |
| Property, plant & equipment, net | 230.1 m | 320.0 m | 1.4 bn | 1.7 bn | 1.8 bn | 2.7 bn | SEC (XBRL)· 18 Feb 2026verified |
| Goodwill | — | — | — | — | 0 | 625.8 m | SEC (XBRL)· 18 Feb 2026verified |
| Total assets | 1.4 bn | 1.7 bn | 1.8 bn | 2.1 bn | 2.3 bn | 4.7 bn | SEC (XBRL)· 18 Feb 2026verified |
| Accounts payable | 90.6 m | 103.9 m | 96.1 m | 115.1 m | 125.9 m | 148.9 m | SEC (XBRL)· 18 Feb 2026verified |
| Short-term debt | 22.1 m | 29.8 m | 24.6 m | 22.6 m | 31.4 m | 17.0 m | SEC (XBRL)· 18 Feb 2026verified |
| Current liabilities | 234.1 m | 235.9 m | 219.4 m | 289.6 m | 330.8 m | 393.1 m | SEC (XBRL)· 18 Feb 2026verified |
| Equity | 693.5 m † | 800.3 m † | 889.0 m † | 1.0 bn † | 1.1 bn † | 3.3 bn † | SEC (XBRL)· 18 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 148.7 m | 110.5 m | 25.6 m | 67.3 m | 174.2 m | 886.9 m | SEC (XBRL)· 18 Feb 2026verified |
| Capex | 99.3 m | 309.8 m | 352.4 m | 364.6 m | 183.2 m | 221.2 m | SEC (XBRL)· 18 Feb 2026verified |
| Free cash flow | 49.4 m ≈ | -199.3 m ≈ | -326.7 m ≈ | -297.3 m ≈ | -9.0 m ≈ | 665.7 m ≈ | SEC (XBRL)· 18 Feb 2026derived |
| Investing cash flow | -65.7 m | -304.1 m | -146.2 m | -303.7 m | -193.5 m | -127.8 m | SEC (XBRL)· 18 Feb 2026verified |
| Financing cash flow | -46.5 m | 158.1 m | 125.0 m | 236.1 m | 13.9 m | -260.6 m | SEC (XBRL)· 18 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 75 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 14.9 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet76
- Growth100
- Valuation72
- Quality67
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 12.49 – 29.39 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDA13.48 – 21.97 (Mid 19.04)9 companies used · median multiple 10.4x · quartiles 7.2x – 12.1xAG, EGO, EQX, EXK, IDR, ITRG, KGC, MUX, PAAS
- Peers: P/E12.49 – 29.39 (Mid 14.78)17 companies used · median multiple 16.2x · quartiles 13.7x – 32.2xAEM, AG, AGI, ARIS, AU, B, EGO, EQX, FNV, GFI, IDR, KGC, MUX, NAMM, NEM, PAAS, VOXR
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 75/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 11.5% | 56 (vs peers) | 14% |
| Net margin · Quality | 19.2% | 53 (vs peers) | 8% |
| FCF conversion · Quality | 174.3% | 100 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | 38.1% | 100 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | -0.7x | 67 (vs peers) | 14% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 3.8x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 16.0x | 56 (vs peers) | 14% |
| EV/EBITDA · Valuation | 7.8x | 67 (vs peers) | 14% |
| FCF yield · Valuation | 8.1% | 100 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet76/100 · 2/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality67/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation72/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
COEUR MINING, INC. (CDE). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 2.1 bn USD in 2025; YoY growth 96.4%; net margin 19.2%; ROE 10.3%; net debt/EBITDA -0.7x.
The estimated value range is 12.98–25.68 USD per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 16.91 USD, the price of 14.58 USD leaves a potential of 16.0% (value / price − 1) and a margin of safety of 13.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 75/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 174.3%
- Revenue CAGR 3Y: 38.1%
- Current ratio: 3.8x
- FCF yield: 8.1%
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Interest coverage, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Gold and Silver Ores (SIC 1040) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NEMNewmont Corporation | 122.7 bn | 13.7 | 26.8% | 34.7% | +21.3% | +30% / +194% |
| AEMAgnico Eagle Mines Limited | 91.7 bn | 20.7 | 19.6% | 37.5% | +43.7% | +5% / +242% |
| BBarrick Mining Corp | 67.2 bn | 13.7 | 19.6% | 29.4% | +31.2% | −3% / +128% |
| FNVFRANCO NEVADA Corp | 46.7 bn | 42.0 | 16.3% | 61.0% | +63.7% | +15% / +116% |
| AUAngloGold Ashanti plc | 44.4 bn | 17.0 | 43.1% | 32.1% | +70.8% | +3% / +357% |
| GFIGold Fields Limited | 32.9 bn | 26.6 | 25.7% | 23.9% | +15.6% | −14% / +140% |
| KGCKinross Gold Corp | 25.7 bn | 11.0 | 31.0% | 33.9% | +36.9% | −24% / +264% |
| PAASPan American Silver Corp. | 17.5 bn | 16.2 | 16.8% | 27.1% | +28.4% | −9% / +165% |
| CDECoeur Mining, Inc. | 14.9 bn | 16.0 | 10.3% | 19.2% | +96.4% | +5% / +465% |
| AGIAlamos Gold Inc. | 12.6 bn | 14.3 | 22.1% | 49.0% | +34.3% | −20% / +103% |
| HMYHarmony Gold Mining Company Limited | 10.4 bn | — | — | — | +25.8% | −17% / +163% |
| EQXEquinox Gold Corp. | 8.9 bn | 32.2 | 4.8% | 12.2% | +99.1% | −19% / +106% |
| AGFirst Majestic Silver Corp. | 7.6 bn | 45.3 | 8.0% | 13.1% | +124.3% | +1% / +158% |
| EGOEldorado Gold Corp | 6.7 bn | 13.6 | 12.4% | 27.9% | +37.5% | +7% / +155% |
| CGAUCenterra Gold Inc. | 4.3 bn | — | -4.7% | -7.4% | +28.8% | +61% / +249% |
| ARISAris Mining Corp | 3.2 bn | 38.3 | 7.0% | 8.4% | +81.7% | +12% / +396% |
| NGNovagold Resources Inc. | 2.7 bn | — | -32.8% | — | unavailable | −40% / +45% |
| AAUCAllied Gold Corporation | 2.5 bn | — | -13.8% | -3.9% | +82.3% | −3% / unavailable |
| EXKEndeavour Silver Corp. | 2.1 bn | — | -22.4% | -25.5% | +114.8% | −21% / +259% |
| HYMCHycroft Mining Holding Corporation | 1.6 bn | — | -72.3% | — | −100.0% | +49% / +716% |
| IAUXi-80 GOLD CORP. | 1.2 bn | — | -81.9% | -202.7% | +89.1% | +18% / −15% |
| NEWPNew Pacific Metals Corp. | 952.3 m | — | -2.8% | — | −19.1% | +101% / +181% |
| MUXMcEWEN INC. | 916.1 m | 12.8 | 13.5% | 32.5% | +13.2% | −20% / +94% |
| MTAMetalla Royalty & Streaming Ltd. | 732.0 m | — | -1.7% | -36.1% | +99.6% | +6% / +145% |
| GROYGold Royalty Corp. | 648.9 m | — | -0.7% | -26.5% | +54.5% | −34% / +86% |
1- and 3-year price returns: for CDE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 7.09 Total return -51% · Per year -51% | 12.47 Total return -14% · Per year -14% | 18.70 Total return 28% · Per year 28% |
| 3 years | 8.40 Total return -42% · Per year -17% | 16.49 Total return 13% · Per year 4% | 26.93 Total return 85% · Per year 23% |
| 5 years | 9.97 Total return -32% · Per year -7% | 21.81 Total return 50% · Per year 8% | 38.78 Total return 166% · Per year 22% |
- Exit P/E± 4.12
- Net margin± 2.89
- Annual revenue growth± 2.15
- Annual dilution± 0.24
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
In brief
Coeur Mining is a precious metals producer with assets in the United States, Canada and Mexico, which recently expanded its portfolio through the New Gold acquisition. The second quarter of 2026 was a record for the company, with revenue of 1.1 billion USD 3 and a gold output pace that could support the updated annual target of 690,000 ounces 2.
SWOT
Strengths
Weaknesses
Opportunities
- Full integration of New Gold could bring synergies and higher production in the second half of 2026 23.
- The share buyback and semi-annual dividend show a strategy of returning capital to shareholders 2.
- The Silvertip project could become a growth source in critical minerals if the necessary permits are obtained 1.
Risks
- Dependence on metal priceshigh
Revenue and cash flow move directly with gold, silver and copper prices, and a prolonged period of low prices would affect results 1.
- Acquisition integrationhigh
Integrating New Gold and ramping up the Canadian mines could delay production and require guidance adjustments 23.
- Reserve estimatesmedium
Mineral reserves and resources are subjective estimates, and a change in prices or geology could lead to reductions 1.
- Dependence on refinersmedium
Disruptions at refiners or smelters could delay sales and cause losses that insurance does not fully cover 1.
- Operational hazardsmedium
Incidents such as the fire at the Wharf crushing facility show that accidents and failures can halt production and cause damage that is hard to recover from insurance 1.
Investment thesis
What would need to be true (bull case)
- If metal prices stay elevated, cash flow could support share repurchases and dividend payments 2.
- Full integration of the Canadian mines and higher output in the second half of the year could lead to record results 23.
- The balance sheet has strengthened considerably after debt reduction and cash build-up, which could offer flexibility 12.
What would break the thesis
- If gold and silver prices keep falling, margins could shrink quickly and guidance could be revised again 2.
- Delays in the ramp-up of the new mines could reduce their contribution to revenue this year 3.
- Production costs per ounce have risen, and the effect on margins could persist if prices do not improve 23.
What to watch
- Production delivery in the second half of 2026Q4 2026
- Ramp-up of New Afton and Rainy RiverQ4 2026
- Trend in realized gold and silver pricesQ3 2026
- Annual report for 2026 and guidance for 20272027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
The business
Coeur Mining, Inc., founded in 1928, produces and sells gold and silver from several mines: Las Chispas and Palmarejo in Mexico, Rochester in Nevada, Kensington in Alaska and Wharf in South Dakota 1. After the New Gold acquisition, the company also operates the New Afton and Rainy River mines in Canada, and revenue for 2025 was 2,070.1 million USD 12. The company also includes the Silvertip exploration project in British Columbia in its portfolio 2.
Segments
Mexican operations
The Las Chispas mine (Sonora) and the Palmarejo complex (Chihuahua) produce silver and gold, and Las Chispas entered the portfolio in early 2025 1. Palmarejo showed lower silver grades in the second quarter of 2026 2.
North American operations
Rochester (Nevada), Kensington (Alaska) and Wharf (South Dakota) account for a significant share of gold and silver output, and Rochester reached a record tonnage crushed in the second quarter of 2026 23. New Afton and Rainy River in Canada made their first full quarter of production in Q2 2026 2.
Canadian operations
New Afton, a gold-copper mine, and Rainy River, a gold-silver mine, entered the portfolio through New Gold, and their contribution rose in the second quarter of 2026 2. Underground ramp-up and development of the C-Zone are slower than previously assumed, which led to partial-year guidance changes 3.
Market context
Trends
- High metal pricestailwind
High gold and silver prices have driven record revenue and cash flow, especially in 2025 and the first half of 2026 12. If prices hold, margins could remain solid.
- Consolidation in miningtailwind
Acquisitions such as SilverCrest and New Gold show that large producers are seeking assets in jurisdictions considered friendly to mining 12.
- Price volatilityheadwind
Lower realized prices in June 2026 and the revised guidance show that revenue can be affected quickly by market moves 2.
- Costs and regulationmixed
Energy, fuel and reagent costs are volatile, and regulatory changes in the US, Mexico or Canada could increase expenses 1.
Competitive position
Coeur competes with other gold and silver producers for capital, personnel and assets, although the sources do not detail its relative market position. The company presents itself as a diversified North American producer with operations in several jurisdictions 12.
The company's advantage could come from access to several mines with different cost profiles and from its ability to fund growth from internal cash flow 2. The sources analysed do not identify specific rivals, which would require additional data.
- Other North American gold and silver producers
The sources do not name specific competitors; a list of comparable firms cannot be established from the documents analysed.
- Canadian copper producers
The new Canadian assets add a copper component, so competition in that segment could come from copper producers.
- Mexican operators
Mexican assets face local competitors, but the sources do not identify them.
- Companies with exploration projects
The Silvertip project could compete with other exploration companies in the critical minerals space.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Istoricul de artă Călin Demetrescu - înmormântat miercuri la Cimitirul Străulești 2; slujba religioasă, la Biserica Sacre CoeurAgerpres · 27 Jul 2026 · RO
The latest news item in our archive is from 27 Jul 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report04 Nov 2026Results of operations · Financial statements and exhibits
- Quarterly report04 Nov 2026
- Current report28 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report18 May 2026Other events · Financial statements and exhibits
- Current report13 May 2026Departure or appointment of officers · Amendments to articles or bylaws · Shareholder vote · Other events · Financial statements and exhibits
- Current report06 May 2026Results of operations · Financial statements and exhibits
- Quarterly report06 May 2026
- Current report (amendment)06 May 2026Acquisition or disposition of assets · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Coeur Mining, Inc. · 18 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Coeur Mining, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Coeur Mining, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.