We came across a bullish thesis on Coeur Mining, Inc. on r/stocks by Itchy-Criticism9208. In this article, we will summarize the bulls’ thesis on CDE. Coeur Mining, Inc.’s share was trading at $22.58 as of January 16th. CDE’s trailing and forward P/E were 31.80 and 12.24 respectively according to Yahoo Finance.
Coeur Mining, Inc. operates as a gold and silver producer in the United States, Canada, and Mexico. CDE is presented as an undervalued precious metals producer with improving fundamentals, meaningful growth catalysts, and strong leverage to silver prices. Trading around 22.6 versus an estimated intrinsic value of 32.2, the stock reflects a disconnect between current valuation and the company’s operational momentum.
A key potential catalyst is the anticipated merger with NGD, which would materially expand Coeur’s footprint to seven operations across North America and significantly scale production capacity to roughly 900,000 ounces of gold and 20 million ounces of silver annually.
This increased scale comes at a time when the company has already demonstrated substantial revenue growth and operational consistency, posting six consecutive profitable quarters. Recent production expansions, including the Rochester expansion and the successful integration of Las Chispas, underscore that Coeur is not only stable but still in an active growth phase.
Financially, the company appears well positioned, with a strong balance sheet and expectations for hundreds of millions in cash generation in the coming year. Free cash flow is already positive at approximately $188 million, while liquidity remains solid with $266 million in cash against $363.5 million of largely long-term, fixed-coupon debt, limiting near-term refinancing risk. Capital discipline is further reinforced by the absence of an active equity offering and the presence of a $75 million share repurchase authorization running through May 31, 2026.
Operationally, while all-in sustaining costs were not specified, recent results show $248 million in costs against $554.6 million in precious metals sales, suggesting healthy margins. Importantly, the company’s assets are concentrated in geopolitically stable jurisdictions, primarily the U.S., Mexico, and Canada, with additional Canadian exposure expected post-merger. Overall, CDE offers a compelling setup into Q1 and Q2 2026, though the investment case remains closely tied to a bullish outlook on silver prices.
Previously, we covered a bullish thesis on Harmony Gold Mining Company Limited (HMY) by Intelligent_Okra5374 in April 2025, which highlighted the company’s leverage to gold prices, strong free cash flow generation, balance sheet strength, and diversification into copper. HMY’s stock price has appreciated by approximately 68.20% since our coverage due to rising gold prices and strong operating performance. Itchy-Criticism9208 shares a similar view but emphasizes on silver exposure, production expansion, and merger-driven scale.
