Shares Holding to Minimal Losses

We’re monitoring other earnings in the mining sector, and Coeur’s decline appears to be the exception.

• Kinross: Up about .4% after beating expectations
• Pan American Silver: The biggest winner after smashing expectations with shares now up 3%.

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.

Overall Grade: A-

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.

Earnings Scorecard

CDE | Coeur Mining Q4’25 Earnings Highlights:

• Adj. EPS: $0.35 [✅]; UP +75% YoY
• Revenue: $675.0M; UP +21.7% YoY
• Adj. Gross Margin: 63.0% [✅]; UP +200 bps YoY
• Net Income: $215.0M  [✅]; UP +467.5% YoY
• Free Cash Flow: $313.2M; UP +66% YoY

Outlook:

• • Coeur expects continued strong performance driven by higher gold and silver prices and robust production levels.
  • The anticipated acquisition of New Gold is expected to enhance operational capabilities and production output.

Other Key Q4 Metrics:

• Cash, Equivalents & Short-Term Investments: $553.6M
• Total Debt: $340.5M
• Gold Ounces Produced: 112,429
• Silver Ounces Produced: 4.7M
• Average Realized Price Per Ounce – Gold: $3,818
• Average Realized Price Per Ounce – Silver: $54.30

CEO Commentary:

• Mitchell J. Krebs: “Coeur finished 2025 on a high note, achieving a third consecutive quarter of record-setting financial results, driven by higher realized prices, strong production and disciplined cost management. Each of the Company’s five operations delivered solid results and record free cash flow. Rochester’s fourth quarter results were especially noteworthy, with ore crushing and placement rates reaching record levels. Since closing the SilverCrest acquisition in mid-February, Las Chispas contributed $286 million of free cash flow to the Company, while Kensington delivered one of its strongest quarters ever on the back of its recently completed multi-year underground development and drilling program.”

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.

• Revenue of $675 million
• Adjusted EBITDA of $425 million
• Free Cash Flow: $313 million
• Gold Production: 419,046 oz for 2025
• Silver Production: 17.9M oz for 2025

Shares aren’t initially moving much.

As we noted earlier, here’s what Wall Street was expecting:

• Consensus of $688.2 million in revenue
• $.35 in non-GAAP EPS
• $.48 in GAAP EPS

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.