# Coeur Mining, Inc. (CDE) — Stock CV

Coeur Mining, Inc. is a $17.6B materials company. Revenue grew 117.3% over the last year, it keeps 27¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 20.7× earnings — in the most expensive third of its own history.

> Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. It is involved in the discovery and mining of gold and silver and generates the vast majority of revenue from the sale of these precious metals.

## Identity

- **Ticker**: CDE
- **Sector**: Basic Materials
- **Industry**: Gold And Silver Ores
- **Headquarters**: CHICAGO, IL
- **Employees**: 2 620
- **Website**: https://www.coeur.com
- **Market cap**: $17.6B
- **Last price**: $17.17
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $3.17B
- **Net income**: $850M
- **Free cash flow**: $1.16B
- **Net cash**: $537M
- **P/E**: 20.7
- **Revenue growth (YoY)**: 117.3%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 57 |
| Growth | 50 |
| Profitability | 82 |
| Health | 93 |
| Quality | 62 |
| Moat | 31 |

## Qualifications (beginner checklist) — 8 of 10 passed

- [x] Revenue growing — +117.3% YoY
- [x] Profitable — $850M TTM
- [x] Profit growing — +55.3% YoY
- [x] Generates cash — $1.16B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $17.6B market cap
- [ ] Not printing shares — +149.9% shares over ~5y
- [ ] Proven track record — 4/10 profitable years
- [x] Financially stable — Altman Z 2.0 — grey
- [x] Valuation not extreme — P/E 20.7

## Experience (career milestones)

- **FY2025** — Best year on record: $586M net income
- **FY2024** — Revenue crossed $1B: $1.05B for the year
- **FY2023** — Became debt-free: cash now exceeds total debt
- **2017** — Coeur acquired all claims and infrastructure to the Silvertip mine in northern British Columbia
- **FY2016** — First recorded profitable year: $55.4M net income
- **2013** — The company changed its name to Coeur Mining, Inc. from Coeur d'Alene Mines and moved its head office to…
- **2007** — Coeur acquired the property in 2007 and mining commenced in 2008
- **2002** — Coeur acquired the Martha underground silver mine in Argentina from Yamana Resources Inc
- **1999** — Coeur acquired the San Bartolomé silver project in Bolivia from ASARCO
- **1993** — Coeur acquired an 80% operating interest in the Golden Cross Mine from Cyprus Gold New Zealand Limited
- **1990** — Coeur acquired the Fachinal property in Chile from a Chilean exploration company
- **1987** — Coeur acquired 50% of the Kensington property in 1987 and then 100% in 1995
- **1984** — Through the merger of Wharf Ltd. and Wharf USA, Inc., Coeur Mining became the sole owner of Coeur Wharf
- **1983** — Coeur acquired Asarco's operating lease on the Rochester Mine in Nevada

## Strengths

- High gross margin (57.6%)
- Strongly profitable — 26.8% net margin
- Revenue growing 117.3% year over year
- Strong cash conversion — FCF is 36.5% of revenue
- Net cash position after subtracting debt from cash

## Watch-outs

- Loss-making in 6 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $833M | -$31.3M | -$199M |
| FY2022 | $786M | -$78.1M | -$327M |
| FY2023 | $821M | -$104M | -$297M |
| FY2024 | $1.05B | $58.9M | -$8.95M |
| FY2025 | $2.07B | $586M | $666M |

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Source: https://stockcv.com/CDE — derived from company filings; may be delayed or incomplete. Information, not investment advice.