Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 6 Oct, 25 | CDE | Buy | USD 19.15 | USD 20.09 | USD 21.05 | 2 days | Closed |
9.71%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Coeur Mining, Inc. explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc. in May 2013. Coeur Mining, Inc. was incorporated in 1928 and is headquartered in Chicago, Illinois.
Free Cash Flow Turnaround: Free cash flow improved from negative USD 36 million in Q2 FY24 to a record USD 146 million in Q2 FY25, reflecting operational efficiency and price leverage.
Revenue Growth: Total revenue rose 117% year-over-year to USD 481 million (Q2 FY25 vs. USD 222 million in Q2 FY24)
Increased Capital Expenditure: Capex rose 18% quarter-over-quarter to USD 61 million, driven by higher sustaining investments, potentially limiting near-term cash accumulation
Rising Tax Expense: Income tax expense surged to USD 63 million in Q2 FY25 from minimal levels a year earlier, due in part to deferred tax impacts from Las Chispas acquisition and foreign exchange fluctuations
Coeur Mining’s investment outlook remains exposed to volatility in gold and silver prices, operational risks from newly integrated assets like Las Chispas, and potential cost inflation in sustaining and exploration activities across its multi-jurisdictional portfolio
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 19.15 | 18.2 | 20.09 | 21.05 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Record Financial and Operational Performance: Coeur Mining, Inc. reported record-breaking financial performance for the second quarter of 2025, driven by strong production, higher metal prices, and disciplined cost control across its five operating mines. The Company achieved total revenue of USD 481 million, up 117% year-over-year from USD 222 million in Q2 2024, and 34% sequentially from USD 360 million in Q1 2025. GAAP net income reached a record USD 71 million (USD 0.11 per share), while adjusted net income rose sharply to USD 127 million (USD 0.20 per share). Adjusted EBITDA increased 364% year-over-year to USD 244 million, marking the fifth consecutive quarter of profitability.
Exceptional Production and Margin Expansion: Operationally, Coeur achieved substantial growth in both gold and silver output, supported by improved recoveries and enhanced throughput at its core assets. Gold production reached 108,487 ounces, up 38% year-over-year, while silver output surged 79% year-over-year to 4.7 million ounces. Average realized prices also rose, with gold averaging USD 3,021 per ounce and silver USD 33.72 per ounce, reflecting increases of 51% and 29%, respectively, from the prior year. Concurrently, costs applicable to sales per ounce declined 6%, driving margin expansion and positioning Coeur among the top-performing North American precious metals producers for the quarter.
Strengthened Balance Sheet and Cash Flow Position: Coeur demonstrated significant balance sheet improvement, generating record free cash flow of USD 146 million, up from a negative USD 36 million in Q2 2024. Operating cash flow reached USD 207 million, supported by increased production and higher realized prices. The Company also completed repayment of its remaining USD 110 million revolving credit facility, reducing total debt to USD 381 million from USD 629 million a year earlier and lowering its net leverage ratio to 0.4x. Cash and equivalents rose to USD 112 million, reflecting disciplined capital allocation and prudent liquidity management.
Operational Highlights Across Core Assets: Each of Coeur’s five operations contributed positively to the quarter’s results, with notable performance from Las Chispas and Palmarejo in Mexico. At Las Chispas, the first full quarter of ownership delivered 16,271 ounces of gold and 1.49 million ounces of silver, with adjusted costs per ounce of USD 894 (gold) and USD 8.94 (silver). Palmarejo also performed strongly, producing 27,272 ounces of gold and 1.74 million ounces of silver, while maintaining low adjusted CAS of USD 888 per gold ounce. The newly expanded Rochester operation in Nevada increased crushed ore rates by 24% quarter-over-quarter, supporting continued growth in output and efficiency.
Strategic Initiatives and Shareholder Returns: During the quarter, Coeur continued executing its strategic priorities by advancing exploration activities and returning capital to shareholders. The Company authorized a USD 75 million share repurchase program, repurchasing 216,500 shares at an average price of USD 9.24. Exploration spending totaled USD 30 million, up from USD 22 million in Q1 2025, with active drilling campaigns across Mexico and Nevada yielding strong results, particularly from high-grade discoveries at Las Chispas. These initiatives reinforce Coeur’s focus on value creation, reserve expansion, and sustainable production growth.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given on Coeur Mining, Inc (NYSE: CDE) at the current market price of USD 19.15, as on Oct 06, 2025 at 7:05 am PDT.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Basic Materials Industry: Gold
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| CDE Coeur Mining Inc |
-0.04 0.23% | 17.16 | - | 8.75 | 2.81 | 2.45 | 3.15 | 14.46 |
| NEM Newmont Goldcorp Corp |
-0.07 0.07% | 99.38 | - | 11.61 | 4.29 | 2.48 | 4.55 | 26.44 |
| ZIJMF Zijin Mining Group Co Ltd-H |
0.18 4.25% | 4.42 | 16.00 | 16.89 | 0.15 | 2.75 | 0.20 | 1.78 |
| ZIJMY Zijin Mining Group Co Ltd ADR |
-0.37 0.43% | 86.15 | 15.04 | 17.39 | 0.15 | 2.83 | 0.20 | 1.78 |
| AEM Agnico Eagle Mines Limited |
1.76 1.05% | 169.27 | 42.69 | 15.65 | 5.47 | 2.04 | 5.49 | 12.90 |
Data Powered by EOD Historical Data (“EODHD”).
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is October 06,2025. The reference data in this report has been partly sourced from REFINITIV.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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