Coeur Mining Stock Trades Below Insider Prices
Three insiders at Coeur Mining sold $1.06M in shares at $20-21 in August and September; the stock has since fallen to $13.45 amid a 53.6% EPS miss. The $23.22 analyst consensus target now hinges on wh
Coeur Mining Q3 Earnings: Value or Value Trap?
NEW YORK, October 25 —
Three insiders at Coeur Mining, Inc. (CDE) sold $1.06 million in shares at $20 to $21 in August and September; the stock now trades at $13.45. With Q3 earnings weeks away, the gap between where management sold and where the market prices the stock is the question a 7.3x forward P/E alone cannot settle.
- Most recent quarter EPS: $0.12 actual vs. $0.26 estimate, a 53.6% miss
- Forward P/E of 7.3x at $13.45; analyst consensus target: $23.22
- Net cash position: $1.05B cash vs. $0.71B debt; trailing FCF of $797M
What Earns the $23 Target
Coeur operates six mining segments across the U.S., Canada, and Mexico: Palmarejo, Rochester, Kensington, Wharf, Silvertip, and Las Chispas, producing gold and silver concentrates sold to third-party refiners under off-take agreements. Trailing revenue of $3.17 billion grew 125.9% year-over-year, with management citing the first full quarter of New Afton and Rainy River acquisitions as a primary driver. Gross margin of 56.3% and operating cash flow of $1.47 billion support the analyst consensus target of $23.22. A net cash balance, $1.05 billion against $0.71 billion in debt, is rare for a commodity producer of this scale.
The Miss That Shifts the Burden
The most recent quarter produced $0.12 in EPS against a $0.26 consensus estimate. That miss, 53.6%, was the largest in four reported quarters and followed two near-consensus beats, suggesting the deterioration was abrupt rather than a gradual earnings erosion. The EPS shortfall sharpens the significance of the August and September insider sales at $20 to $21: with insiders holding just 0.6% of shares, even small sales carry outsized signal value when they occur at prices well above where the stock subsequently trades. Institutional investors hold 82.7% of shares; the stock's discount to consensus is their problem to solve or re-price.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| CDE | $13.8B | 7.3x | -23.9% |
| HL | $9.3B | 13.4x | +12.1% |
| PAAS | $16.6B | 9.4x | +15.6% |
| KGC | $26.5B | 8.3x | -1.9% |
| EXK | $2.2B | 7.2x | -4.5% |
| AG | $7.3B | 15.0x | +18.7% |
Q3 Settles the Discount
On October 22, 2026, Coeur fell 8.26% as Brent crude cleared $112 per barrel after Strait of Hormuz shipping attacks pressured silver. Americas Gold and Silver fell 11%, Wheaton Precious Metals and Pan American Silver each 6% that session, placing the selloff in sector dynamics rather than Coeur-specific failure. If Q3 EPS recovers toward the $0.26 mark missed last quarter, the discount to $23.22 loses its logic; if it falls further short, the insider sales at $20 to $21 look prescient. Run the free Coeur Mining, Inc. deep-dive or model the range in the DCF calculator.
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Frequently Asked Questions
Why did Coeur Mining stock fall after earnings?
Coeur Mining reported a 53.6% EPS miss, with earnings of $0.12 versus a $0.26 consensus estimate in the most recent quarter. This was the largest miss in four reported quarters, suggesting abrupt deterioration rather than gradual erosion.
What is the analyst price target for CDE?
The analyst consensus price target is $23.22 per share. This target is supported by the company's gross margin of 56.3%, operating cash flow of $1.47B, and net cash position of $1.05B against $0.71B in debt.
Why did Coeur Mining fall on October 22?
Coeur Mining fell 8.26% as Brent crude cleared $112 per barrel following Strait of Hormuz shipping attacks that pressured silver. The broader precious metals sector declined similarly that session, with Americas Gold and Silver down 11%.
How much of Coeur Mining do insiders own?
Insiders hold just 0.6% of shares while institutional investors hold 82.7%. Even small insider sales carry outsized signal value, particularly when they occur at prices well above where the stock subsequently trades.
Coeur Mining (CDE) heads into its Q3 earnings release — expected within weeks — trading at $13.45, well below the $20–$21 range where three insiders sold $1.06 million in shares during August and September. The question is whether the company's 7.3x forward P/E and $797 million in trailing free cash flow represent deep value, or whether last quarter's 53.6% EPS miss and fresh silver headwinds render the analyst consensus target of $23.22 unreachable.