Miner Company
Coeur's 2026 Setup Looks Mispriced
Coeur Mining transitions from heavy capex to harvest mode, delivering record Q4 2025 revenue and FCFs after Rochester expansion and Las Chispas integration. CDE posted 2025 adjusted EBITDA of $1.0Bn and FCFs of $666Mn, and expects a 10% y/y increase in silver production together with further improvements at Rochester. The proposed all-stock New Gold deal aims to create a larger, more resilient North American producer, with management targeting $3B EBITDA and $2B FCF in 2026.
Tickers: CDE
Coeur Mining transitions from heavy capex to harvest mode, delivering record Q4 2025 revenue and FCFs after Rochester expansion and Las Chispas integration. CDE posted 2025 adjusted EBITDA of $1.0Bn and FCFs of $666Mn, and expects a 10% y/y increase in silver production together with further improvements at Rochester. The proposed all-stock New Gold deal aims to create a larger, more resilient North American producer, with management targeting $3B EBITDA and $2B FCF in 2026.