Key Highlights

  • Coeur Mining (NYSE:CDE) traded at USD 13.22, down 1.75%, on October 26, 2026, with a market Capitalization of USD 13.58 billion, a P/E ratio of 10.85 and trailing Earnings of USD 1.22 per share in published market data.
  • Coeur Mining (NYSE:CDE) reported second-quarter Revenue of USD 1.0856 billion, up 126%, with free Cash Flow of USD 387.5 million and record gold production of 163,490 ounces, after closing the New Gold Acquisition on March 20, 2026.
  • Coeur Mining (NYSE:CDE) guided 2026 free cash flow of about USD 1.5 billion and year-end cash approaching USD 2.0 billion, on price assumptions of USD 4,000 gold, USD 60 silver and USD 6.00 copper per pound.
  • Silver near USD 53.85 sits about 10.3% below the USD 60 assumption, simple arithmetic, while gold near USD 4,028 sits in line, so the silver leg is the nearer-term test.

What Coeur Reported

Gold traded near USD 4,028 on October 26, 2026, about 3.9% below its USD 4,190.60 level on October 12, while silver traded near USD 53.85, about 11.0% lower over the same two weeks, in published market data. For Coeur Mining (NYSE:CDE), the quarter ended June 30, 2026 delivered revenue of USD 1.0856 billion and adjusted EBITDA of USD 478.3 million, with Net Income of USD 121.9 million, or USD 0.12 per share, after a USD 140 million non-cash charge on acquired stockpile inventory. Realized prices were USD 4,140 per ounce for gold, USD 71.18 for silver and USD 6.11 per pound for copper, and the company held USD 1.0523 billion of cash and short-term investments.

Guidance, Costs and Capital Returns

Guidance now assumes lower second-half prices than before, USD 4,000 gold against USD 4,550 and USD 60 silver against USD 77.50, with copper raised to USD 6.00 from USD 5.00. Production is about 690,000 ounces of gold, 20 million ounces of silver and 45 million pounds of copper at the midpoint. Adjusted costs applicable to sales were USD 2,442 per ounce for gold and USD 22.99 for silver. The company repurchased USD 121 million of shares, 6.7 million shares, through July 31 and paid an inaugural USD 0.02 semi-annual Dividend in June. Capital spending guidance rose to USD 520 million to USD 605 million, and the guidance update was published on August 5, 2026.

Risks and the Next Catalyst

The acquired mines are the main execution risk. New Afton gold guidance was cut to 50,000 to 60,000 ounces from 60,000 to 80,000, and Rainy River to 190,000 to 230,000 ounces from 230,000 to 275,000, both on slower underground ramp-ups. Management said the guidance changes reflect a slower ramp at the new Canadian mines and lower assumed metal prices for the second half. Legacy operations at Las Chispas, Palmarejo, Rochester, Kensington and Wharf were unchanged. Silver below the USD 60 assumption would pressure the free cash flow target, and copper adds a third price exposure. Third-quarter results are expected in early November 2026, and the date was not confirmed in the materials reviewed.

Where Things Stand

The answer is that Coeur Mining (NYSE:CDE) fell 1.75% because silver and gold both slipped, and silver is trading about 10.3% below the USD 60 used in guidance. The balance sheet, with USD 1.05 billion of cash and a targeted USD 2.0 billion by year end, gives room to absorb that, but a slower ramp at New Afton and Rainy River and a lower silver price could trim the USD 1.5 billion free cash flow goal.