Should Coeur Mining Stock Be in Your Portfolio Pre-Q4 Earnings?

Coeur Mining, Inc. CDE is slated to come up with fourth-quarter 2025 results after market close on Feb. 18. The company’s results are expected to reflect continued operational momentum from the ramp-up and integration of the Las Chispas and Rochester mines, disciplined cost control and higher realized gold and silver prices, boosting revenue. 

The Zacks Consensus Estimate for fourth-quarter earnings has been going up in the past 30 days. The consensus estimate for earnings is pegged at 42 cents per share, suggesting a 282% year-over-year rise. 

CDE beat the Zacks Consensus Estimate for earnings in two of the last four quarters and missed on the other occasions. In this timeframe, it delivered an earnings surprise of roughly 107%, on average. 

Q4 Earnings Whispers for CDE

Our proven model does not conclusively predict an earnings beat for CDE this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Coeur Mining has an Earnings ESP of -14.29% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here. 

Factors Shaping CDE’s Q4 Results

CDE’s performance is likely to have been shaped by a continuation of the strong operational execution seen in the third quarter of 2025, where balanced production across its diversified North American portfolio and elevated precious metal prices materially boosted revenues and cash flow, underpinning sequential momentum into the fourth quarter.  

In production terms, the company benefited from record and expanded output across key assets such as Las Chispas, Palmarejo, Rochester, Kensington and Wharf, translating into robust volumes of both gold and silver. 

The trend is expected to have continued in the fourth quarter, which, along with the solid uptrend in gold and silver prices through the quarter, is expected to be reflected in the company’s top-line results. 

Coeur Mining is expected to have benefited from several micro-level operational improvements that support margins. Smoother mine sequencing, higher grades in select stopes, better mill throughput and incremental recovery gains from process optimization should have lifted payable ounces, while reduced downtime, tighter contractor spending and lower strip ratios at Rochester are likely to have helped ease unit costs. In addition, improved logistics, quicker inventory turnover and disciplined sustaining capex are likely to have enhanced cash flow conversion.  

Coeur Mining’s performance in the third quarter was underpinned by balanced contributions across its diversified North American portfolio, improved recoveries and throughput, and subsiding inflationary cost pressures on consumables, reporting adjusted costs applicable to sales of $1,215 per ounce for gold and $14.95 per ounce for silver, which provided healthy spreads relative to realized prices and supported robust free cash flow generation. 

Building on this sequential momentum into the fourth quarter of 2025, the combination of elevated realized prices, strong disciplined cost execution and sustaining capital management, and positive operational drivers should have supported continued margin expansion and free cash flow growth. 

CDE Stock’s Price Performance and Valuation

CDE’s shares have shot up 216.8% over the past year, outperforming the Zacks Mining – Non Ferrous industry’s 76.6% increase and the S&P 500’s rise of 14%. Among its peers, Lundin Mining Corporation LUNMF, Southern Copper Corporation SCCO and Freeport-McMoRan, Inc. FCX have rallied 196.5%, 103.4% and 57.2%, respectively, over the same period.

Price Performance of CDE vs. Industry, S&P 500, LUNMF, SCCO and FCX

From a valuation standpoint, CDE is currently trading at a forward 12-month sales multiple of 5.00. This represents a roughly 6% discount when stacked up with the industry average of 5.03X. CDE is trading at a premium to Freeport and at a discount to Southern Copper and Lundin Mining. LUNMF and SCCO have a Value Score of D, while FCX has a Value Score of C.

Valuation of CDE vs. Industry , LUNMF. SCCO and FCX

Investment Thesis for CDE Stock

Coeur Mining is well-positioned to deliver stronger earnings momentum in fourth-quarter 2025, from consistent production across its core North American mines, higher realized gold and silver prices and improving operational efficiency. Ramp-ups, better grades and throughput gains are supporting lower unit costs, margin expansion and stronger free cash flow, enhancing balance sheet flexibility. However, risks remain from metal price volatility, potential cost inflation and execution or ramp-up delays, which could pressure margins, though overall fundamentals remain constructive heading into year-end. 

Final Thoughts: Buy CDE Shares

Coeur Mining presents a compelling investment case supported by steady operational execution, rising production from key assets and meaningful exposure to elevated gold and silver prices. The successful ramp-up of Rochester and consistent contributions from Las Chispas and Palmarejo are improving scale efficiencies, lowering unit costs and expanding margins. With major capital projects largely complete, stronger free cash flow generation and balance sheet improvement enhance financial flexibility and reduce risk. Buying CDE stock will be prudent for investors before its forthcoming earnings release.

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This article originally published on Zacks Investment Research (zacks.com).

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