CDE

I'm reiterating Coeur Mining as a Strong Buy with a $26 price target, reflecting 30% upside. CDE delivered record revenue, adjusted EBITDA, and $388 million in free cash flow, ending the quarter with $1.1 billion cash and net cash position. The valuation has changed materially since my previous article because CDE now trades near the sector on forward earnings and EV/EBITDA rather than at a large discount.

The bond market is impacting the precious metals space today, it seems. Shares of Hecla Mining (NYSE:HL) are climbing 13% to $20.29 in midday trading Wednesday.

Coeur Mining remains a Strong Buy, with robust cash flow, a strong balance sheet, and significant long-term optionality supporting a discounted valuation. CDE's updated 2026 FCF guidance is $1.5 billion, down from >$2 billion, reflecting operational challenges but still indicating substantial cash generation and flexibility. The company is leveraging record exploration budgets and a $750 million buyback program while maintaining net cash and pursuing shareholder returns.

Gold is extending its winning streak to a seven-week high near $4,300 per ounce, driven by geopolitical developments, a sliding dollar, and shifting Federal Reserve rate expectations. Despite recent gains, gold still trades over 20% below its record high of $5,589 per ounce in late January, according to CNBC analysis.

CDE cut partial-year production guidance at New Afton and Rainy River as slower ramp-ups sharpen focus on a stronger second half and 2026 cash flow.

Coeur Mining, Inc. (CDE) Q2 2026 Earnings Call Transcript

CDE is slated to report Q2 2026 results on Aug. 5, with earnings expected to rise 10% year over year as investors watch costs and mine performance.

Coeur Mining (CDE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Coeur Mining (CDE) remains a 'Buy' as business transformation, deleveraging, and asset integration drive improving fundamentals despite recent price weakness. CDE's Q1 2026 saw adjusted EBITDA of ~$474.9M, cash up 52% QoQ, and a shift to net cash, supporting expanded buybacks and a new dividend. Integration of Rainy River and New Afton mines, plus Rochester expansion, position CDE for strong FY2026 production and margin expansion as accounting noise fades.

Coeur Mining has transformed into a diversified North American precious metals producer after acquiring New Gold, shifting away from its silver-miner legacy. CDE delivered record Q1 2026 results, with revenue up 138% and free cash flow surging 1,383%, driven by strong production and high metals prices. With a net cash position, expanded buyback, and first-ever dividend, CDE is financially robust and trades at a significant valuation discount to peers like Hecla.