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We’re monitoring other earnings in the mining sector, and Coeur’s decline appears to be the exception.
Coeur Mining shares are now down about 1.2% as of 5:14 p.m. ET, and we don’t expect any significant movement from here.
Coeur Mining capped a record-setting year with strong Q4 results, though a revenue miss and lack of detailed forward guidance temper an otherwise stellar performance.
| Category | Grade | Notes |
|---|---|---|
| Revenue Performance | B+ | Q4 revenue of $675 million missed estimates but grew 21.7% year-over-year. |
| Earnings Beat/Miss | A | Adjusted EPS of $0.35 met expectations with 75% growth. |
| Guidance Quality | C+ | Company provided operational outlook but limited financial specifics beyond New Gold acquisition benefits. |
| Margin Trends | A | Adjusted gross margin expanded to 63%, up 200 basis points. |
| Cash Flow | A | Free cash flow surged 66% to $313 million with cash balances at $554 million. |
| Management Confidence | A- | CEO highlighted record results and Rochester’s operational strength, signaling optimism. |
It looks like it won’t be a significant reaction in either direction after Coeur Mining’s Q4 earnings. The company reported revenue slightly behind estimates, but everything is more or less inline with expectations. Shares are down about .6% at 4:47 p.m. ET.
Nerxt up in the mining space is Kinross and Pan American Silver. Both reports are expected at 5 p.m. ET.
As we noted earlier, its a slight revenue miss for Coeur, so it’s not surprising to see shares slightly slumping after hours.
Shares are now down about .9% after initially being up right after the release.
Shares aren’t initially moving much.
As we noted earlier, here’s what Wall Street was expecting:
So, its a miss on revenues but there’s no significant reaction. We’ll continue monitoring and post more updates as we review earnings.
We’re 20 minutes past the closing bell, but we still don’t have Coeur Mining’s earnings. They’re expected in about 10 minutes.
As a note, we will provide updates and analysis once the company reports. Simply stay on this page and new updates will post automatically.
It’s the Super Bowl of mining earnings reports tonight.
Kinross Gold and Pan American Silver are expected to release earnings at 5 p.m. ET.
Couer Mining’s report is expected a bit earlier at 4:30 p.m. ET.
We’ll begin updating with live reaction and analysis once their earnings hit the newswires.
Live coverage has ended. The full story is below.
Coeur Mining (NYSE: CDE) reports fourth-quarter fiscal 2025 earnings tonight after the bell. The stock has surged 258% over the past year, riding a powerful wave of precious metals momentum as silver recently broke through $80 and was added to the U.S. Critical Minerals list.
With shares trading at $23, investors are asking whether tonight’s results can justify the run.
The big numbers to wach tonight are:
Last quarter, Coeur delivered $555 million in revenue (beating estimates) and $0.23 EPS (missing consensus estimates of $.25). CEO Mitchell Krebs guided for “another record quarter in the final three months of the year based on anticipated higher average realized prices and increasing margins.”
Production expectations center on continued sequential growth. Q3 delivered 111,364 ounces of gold and 4.8 million ounces of silver, with all five North American operations contributing. The company raised its full-year 2025 gold production midpoint and lowered cost guidance at several mines. Management projected full-year EBITDA exceeding $1 billion and free cash flow topping $550 million based on recent metals prices.
Coeur crushed Q3 expectations with record net income of $266.8 million and record adjusted EBITDA of $299 million. The company more than doubled its cash position to $266.3 million while generating $189.7 million in free cash flow.
The stock’s initial reaction was choppy. Shares closed at $18.00 on the filing date of October 29, 2025, then dropped nearly 20% over the following week to $14.44. But the selloff proved temporary. Since the Q3 report, CDE has rallied 27.3% to current levels, significantly outperforming the S&P 500’s 1.2% gain over the same period.
Rochester mine ramp-up progress is the headline story. Management completed three major crusher modifications in July and improved particle size metrics to 0.84 inches in Q3 from 0.92 inches in Q2. But a conveyor belt issue in the secondary reclaim feeder caused late-quarter momentum loss.
COO Michael Routledge characterized these as “normal course adjustments during a ramp-up” rather than systemic problems. I’ll be listening for whether Q4 showed the sustained throughput needed to hit the annual 7-8 million ounces of silver and 70,000 ounces of gold run rate targeted for 2026.
Cost discipline matters more than ever at current metals prices. The company paid down over $228 million in debt during 2025 and expects to end the year with over $500 million in cash. But higher silver prices trigger royalty obligations. Management lowered cost guidance at Palmarejo, Kensington, and Wharf last quarter while absorbing Rochester royalty pressure. Whether that trend continued in Q4 will be a key data point in tonight’s report.
Valuation is the elephant in the room. Analysts recently boosted price targets, with RBC Capital raising its target from $22 to $26 in mid-February. The consensus target sits at $25.93, implying modest upside from current levels.
But the stock trades at 31x trailing earnings and 8.2x sales. The company just announced 4.4 million ounces of gold reserves and 274.4 million ounces of silver reserves, with Wharf mine life extended to roughly 12 years and projected EBITDA of $1.7 billion.
Tonight’s guidance will determine whether the 258% surge reflects fundamental strength or simply rode the silver wave.
Contact [email protected] for any questions or corrections.
Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.
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