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Is Coeur Mining (CDE) Undervalued After Record Gold Production And Strong Q2 Results?

Simply Wall St · 1d ago

Coeur Mining (CDE) is back in focus after reporting record second quarter gold production, alongside sharply higher sales and net income, while also issuing updated full year 2026 production guidance for gold, silver, and copper.

See our latest analysis for Coeur Mining.

Coeur Mining’s recent production and earnings update comes after a period of mixed share price momentum, with a 16.3% 1 month share price return and a 5.9% year to date gain, but a 3 month share price pullback of 5.9%. Over the longer term, the stock’s 1 year total shareholder return of 56.8% and very large 3 year total shareholder return of around 7x suggest that recent operational news is feeding into an already strong long term recovery story.

If the latest move in Coeur Mining has you watching precious metals more closely, this is a useful moment to scan a curated list of elite producers through the 29 elite gold producer stocks

After record production, stronger earnings and a fresh buyback, Coeur Mining still trades at a sizeable discount to both analyst targets and intrinsic value estimates. Is the market being sensibly cautious or overly conservative about that gap?

Most Popular Narrative: 25.2% Undervalued

The most followed narrative on Coeur Mining currently points to a fair value well above the last close of $18.58, which frames the recent production headlines in a very different light.

The successful ramp-up and integration of the Rochester expansion and Las Chispas asset are driving significant increases in silver and gold production, positioning Coeur for robust revenue and earnings growth in the near to medium term.

Read the complete narrative. Read the complete narrative.

Want to see what sits behind that confidence in Coeur Mining? The narrative leans heavily on ambitious revenue growth, firm margins and a richer future earnings multiple. Curious which forecasts and pricing assumptions have to line up for that fair value to hold.

Result: Fair Value of $24.84 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, Coeur Mining still faces meaningful risks, including potential permitting delays and higher capital needs that could slow projects and pressure cash generation.

Find out about the key risks to this Coeur Mining narrative.

Another View On Coeur Mining’s Valuation

The earlier fair value work pointed to Coeur Mining trading well below intrinsic value. On simple P/E terms, the picture is different. CDE trades on 22.5x earnings, which is higher than both its peer group at 19.2x and the wider US Metals and Mining industry at 18.5x.

At the same time, the fair ratio for Coeur Mining is estimated at 35.8x earnings. That is a wide spread above today’s 22.5x, which suggests potential upside if the market moves closer to that ratio, but also leaves room for disappointment if earnings or sentiment weaken. Which signal do you weigh more heavily right now?

See what the numbers say about this price — find out in our valuation breakdown.

NYSE:CDE P/E Ratio as at Aug 2026
NYSE:CDE P/E Ratio as at Aug 2026

Next Steps

The coexistence of clear risks and rewards around Coeur Mining can feel messy, so move quickly to test the data yourself and form an informed view with the 3 key rewards and 1 important warning sign.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.