Coeur Mining 2025 Q3 Earnings Record Net Income Surges 447.5% as Results Beat Estimates

Coeur Mining (CDE) delivered a record-breaking quarter, with results exceeding analyst expectations and raising full-year guidance. The company reported a 76.9% year-over-year revenue increase and a 447.5% surge in net income, driven by strong metal prices and operational efficiency. CEO Mitchell Krebs highlighted the acquisition of Las Chispas as a key contributor to the outperformance, while the company now projects over $1 billion in adjusted EBITDA for 2025.

Revenue

Coeur Mining’s Q3 revenue surged to $554.57 million, a 76.9% increase from $313.48 million in the prior year. Las Chispas led with $126.13 million in revenue, followed by Palmarejo contributing $121.19 million and Rochester generating $112.45 million. Kensington and Wharf added $98.89 million and $95.89 million, respectively, while Silvertip and other segments reported no revenue. The performance across North American operations underscored the company’s diversified production strength.

Earnings/Net Income

Earnings per share (EPS) soared 250% to $0.42 in Q3 2025, compared to $0.12 in Q3 2024, while net income reached a record $266.82 million, up 447.5% year-over-year. This marked the highest Q3 net income in over two decades, reflecting robust cost controls and elevated gold and silver prices. The company’s profitability demonstrated sustained momentum in its core operations.

Post-Earnings Price Action Review

Coeur Mining’s stock faced downward pressure in the immediate aftermath of the earnings release, with shares dropping 3.95% in the latest trading day, 3.85% over the past week, and 2.56% month-to-date. Despite strong financial results, market sentiment appeared cautious, potentially reflecting valuation concerns as the stock’s price-earnings ratio expanded from 13 to 21. Analysts remain divided, with some viewing the pullback as a buying opportunity, while others caution against stretched expectations.

CEO Commentary

Mitchell J. Krebs emphasized the company’s strategic execution, citing record production and cost discipline as key drivers. The CEO projected higher average realized prices and margins in Q4 2025, with full-year adjusted EBITDA expected to exceed $1 billion and free cash flow surpassing $550 million. He also highlighted the company’s strong liquidity position and optimism for 2026 results, underscoring long-term growth potential.

Guidance

Coeur Mining raised 2025 gold production guidance to 415,250 ounces (midpoint +1%) and lowered silver production to 18.1 million ounces (midpoint -2%). The company also reduced cost estimates for three operations and maintained exploration investment at $67–$77 million. Capital expenditures for Rochester and Kensington were capped at $57–$70 million and $55–$64 million, respectively, reflecting disciplined capital allocation.

Additional News

Recent developments include TSP Capital’s sale of 220,000 shares of Coeur Mining, reducing its stake by 0.72% and lowering its portfolio allocation to 2.19%. Analysts at Zacks Investment Research upgraded the stock to a “Strong Buy” rating, citing favorable earnings estimate revisions and a projected 24.08% annualized return. Additionally, Coeur Mining’s CEO reiterated confidence in 2026 performance, aligning with broader industry optimism for gold’s role as a safe-haven asset amid macroeconomic uncertainty.

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Earnings Outperformed Estimates

Coeur Mining’s Q3 revenue of $554.57 million exceeded the FactSet estimate of $530.3M, while adjusted EPS of $0.23 matched the Zacks consensus. The company’s record net income of $266.82 million highlighted its ability to capitalize on rising metal prices and operational efficiency. Analysts noted the stock’s 156.3% year-to-date gain outperformed the S&P 500, though valuation concerns persist.

Strategic Positioning

The acquisition of Las Chispas has proven transformative, contributing significantly to Q3 results. With full-year 2025 guidance raised, Coeur Mining is positioning itself for sustained growth. The CEO’s emphasis on liquidity and capital discipline further strengthens the company’s appeal in a volatile commodities market.

Market Reaction and Outlook

Despite the earnings beat, Coeur Mining’s stock faced short-term volatility, with a 3.95% drop in the latest session. Analysts remain divided, with some viewing the pullback as a buying opportunity, while others caution against overvaluation. The company’s ability to maintain momentum in Q4 and meet 2025 guidance will be critical for investor confidence.