NEW YORK, August 5, 2026, 13:09 EDT
- Shares of Coeur increased by 7.7% to $17.46 in NYSE open trading.
- Coeur will report second-quarter earnings after Wednesday’s market close, with a follow-up call scheduled for Thursday.
- Shares following the deal are now 48% higher than the Q1 average, making EPS comparisons more difficult.
Shares of Coeur Mining rose 7.7% to $17.46 during midday trading in New York. The precious-metals company is scheduled to release its second-quarter earnings after markets close on Wednesday.
This report holds particular significance as it is Coeur’s initial complete quarter including New Afton and Rainy River. In the first quarter, those mines accounted for just 11 days.
The share denominator was revised following the acquisition. Coeur released 392.7 million new shares, bringing the total to 1.035 billion after completion. This figure is 48% higher than the weighted average recorded in Q1.
A sample calculation demonstrates the impact. If Q1 adjusted profit remains at $253.5 million, earnings per share would be approximately $0.25. Coeur disclosed $0.36. To keep that EPS, profit would need to be near $372 million, an increase of about 47%.
These figures are initial estimates rather than projections. They are based on the share count after the transaction and presume there are no significant buybacks in Q2. Full-quarter results from the purchased mines are also not included.
This puts immediate focus on cash generation. Adjusted EBITDA and free cash flow need to surpass the higher baseline.
The advance spanned most precious metals stocks. Miners with significant silver exposure typically led gains over bullion-backed ETFs. The quotes below show prices as of about 12:54 p.m. EDT.
| Security | Price | Intraday change |
|---|---|---|
| Coeur Mining NYSE:CDE | $17.46 | up 7.7% |
| Hecla Mining NYSE:HL | $16.70 | up 8.5% |
| First Majestic Silver NYSE:AG | $17.66 | up 7.1% |
| Pan American Silver NYSE:PAAS | $48.14 | up 7.2% |
| iShares Silver Trust NYSEARCA:SLV | $56.17 | up 4.3% |
| SPDR Gold Shares (NYSEARCA:GLD) | $389.48 | up 4.1% |
Spot gold was up 4.4% at $4,256.85 as of 11:04 a.m. EDT. Silver rose 4.9% to $62.44. “Early adopters are getting back into precious metals,” independent metals trader Tai Wong said, pointing to softer rate-hike forecasts and a declining dollar. Reuters
Coeur started the second quarter at an all-time high. Revenue and EBITDA posted strong year-on-year gains. Free cash flow softened compared with the fourth quarter.
| Metric | Q1 2026 | Q4 2025 | Q1 2025 |
|---|---|---|---|
| Revenue | $856.2 million | $674.7 million | $360.1 million |
| Adjusted EBITDA | $474.9 million | $424.5 million | $121.9 million |
| Free cash flow | $266.8 million | $313.2 million | $17.6 million |
| Cash and short-term investments | $843.2 million | $553.6 million | $77.6 million |
| Adjusted EPS | $0.36 | $0.35 | $0.08 |
| Weighted-average shares | 698.7 million | 645.9 million | 521.2 million |
Chief Executive Mitchell Krebs stated that Coeur was “equipped to deliver on the full potential” of its upgraded platform. Performance at seven active mines in the second quarter will now measure that claim. Coeur
In May, management maintained its full-year production outlook. A midpoint analysis suggests a significant increase is needed from now until December. The figures are early estimates and not specific quarterly guidance from the company.
| Metal | 2026 guidance | Midpoint | Q1 actual | Average needed in Q2–Q4 |
|---|---|---|---|---|
| Gold | 680,000–815,000 oz | 747,500 oz | 96,503 oz | 216,999 oz each quarter |
| Silver | 18.7–21.9 million oz | 20.3 million oz | 4.4 million oz | 5.3 million oz for each quarter |
| Copper | 50–65 million lb | 57.5 million lb | 1.4 million lb | 18.7 million lb each quarter |
Average needed to achieve the full-year midpoint following reported Q1 output.
To meet targets, gold output needs to reach about 217,000 ounces per quarter at the midpoint, which is over double the amount produced in Q1. The gap for copper is even wider, given New Afton was included for just 11 days.
Analysts on the sell side are generally upbeat, though their price targets vary significantly. According to MarketScreener, a panel of 11 analysts have a Buy rating and an average target price of $24.84, which suggests potential upside of around 42% from $17.46. The price estimates span from $18.75 to $40.
| Analyst | Firm | Recommendation | Target | Date | Implied upside |
|---|---|---|---|---|---|
| Josh Wolfson | RBC Capital Markets / Royal Bank of Canada (TSE:RY) | Buy, reiterated | $23.00 | July 27, 2026 | 31.8% |
| Eric Winmill | Scotiabank (TSE:BNS) | Buy, reiterated | $28.50 | July 22, 2026 | 63.3% |
| Joseph Reagor | Roth MKM | Buy, reiterated | $21.00 | July 17, 2026 | 20.3% |
| Mike Kozak | Cantor Fitzgerald | Hold, lowered | $19.00 | May 7, 2026 | 8.9% |
| Cosmos Chiu | CIBC World Markets / Canadian Imperial Bank of Commerce (TSE:CM) | Buy, reiterated | $40.00 | March 24, 2026 | 129.2% |
Initial calculation based on the $17.455 intraday value. Analyst price targets represent projections and are not guaranteed returns. Recommendation figures are gathered by Google Finance.
Recent targets are largely grouped in the $19 to $28.50 range, with CIBC’s $40 projection standing out. The range highlights varying expectations on integration, production, and metals pricing.
Details on mine-level costs, grades, recoveries and cash conversion are expected in Wednesday’s release. Investors await disclosure of the weighted share count and information on repurchase activity. The earnings call is scheduled for Thursday at 11 a.m. EDT.
Risks: Prices of precious metals continue to fluctuate. Coeur is exposed to risks related to grade, recovery, costs and integration. Purchase-accounting costs may impact reported unit costs.
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