Core Viewpoint - The article highlights a significant increase in silver stocks in the U.S. market, driven by rising silver prices and favorable market conditions [1] Group 1: Market Performance - U.S. silver stocks saw notable gains, with First Majestic (AG.US) rising over 7%, Hecla Mining (HL.US) and Silvercorp Metals (SVM.US) increasing over 5%, and Coeur Mining (CDE.US) up over 4% [1] - Spot silver prices surged by 3% to reach $55 per ounce, marking a new record high [1] Group 2: Market Drivers - The rise in silver prices is supported by multiple factors, including heightened expectations for a Federal Reserve interest rate cut in December, inflows into silver ETFs, and ongoing supply constraints [1] - The trading halt on the CME Group's Comex for several hours contributed to low liquidity and price volatility in both gold and silver markets on that Friday [1]

Core Viewpoint - The article highlights a significant increase in silver stocks in the U.S. market, driven by rising silver prices and favorable market conditions, including expectations of a Federal Reserve rate cut in December and increased investment in silver ETFs [1] Group 1: Market Performance - U.S. silver stocks saw notable gains, with First Majestic (AG.US) rising over 7%, Hecla Mining (HL.US) and Silvercorp Metals (SVM.US) increasing over 5%, and Coeur Mining (CDE.US) up over 4% [1] - Spot silver prices surged by 3% to reach $55 per ounce, marking a new record high [1] Group 2: Supporting Factors - The rise in silver prices is supported by multiple factors, including heightened expectations for a Federal Reserve interest rate cut in December [1] - There has been a significant inflow of funds into silver ETFs, indicating strong investor interest [1] - Ongoing supply constraints in the silver market are contributing to the upward price pressure [1] Group 3: Market Conditions - The Chicago Mercantile Exchange (CME) experienced a temporary trading halt, leading to low liquidity and price volatility in both gold and silver markets on that Friday [1]

Core Insights - Gold Fields Limited (GFI) and Coeur Mining, Inc. (CDE) have distinct business models and asset portfolios that influence their competitive positions in the precious metals sector [1] Gold Fields Limited (GFI) - GFI is a globally diversified gold producer with large-scale, long-life assets across Africa, Australia, and the Americas, focusing on consistent production and disciplined cost management [2] - In Q3 2025, GFI's attributable gold output increased to approximately 621,000 ounces, a 22% year-over-year rise, driven by the Salares Norte mine [4] - The Salares Norte mine produced about 112,000 ounces in Q3 2025, marking a 53% increase from the previous quarter [5] - GFI realized an average gold price of roughly $3,468 per ounce, with all-in sustaining costs reduced to about $1,557 per ounce, leading to expanded margins [5] - The Tarkwa mine in Ghana produced around 123,000 ounces in Q3 2025 and has historically produced over 500,000 ounces annually [6] - GFI's dividend yield is approximately 1.60%, with a 5-year annualized dividend growth of 17.51% [7] - As of September 2025, GFI's net debt was $791 million, down $696 million from the previous quarter, with a debt-to-capital ratio of 34.8% [8] Coeur Mining, Inc. (CDE) - CDE has a North American-centric portfolio, primarily focused on silver, with gold production increasing [3] - In Q3 2025, CDE's gold production reached 111,364 ounces, a 3% quarter-over-quarter and 17% year-over-year increase [9] - CDE realized an average gold price of $3,148 per ounce, contributing to margin expansion [9] - CDE is in the process of acquiring New Gold Inc., which would create one of the largest North American precious metals producers [10] - The combined entity is projected to produce approximately 900,000 ounces of gold and 20 million ounces of silver in 2026 [11] - CDE's cash and cash equivalents were around $266 million as of September 2025, with a debt-to-capital ratio of 10.5% [13] Price Performance & Valuation - GFI stock has increased by 227.4% year-to-date, while CDE has risen by 183.1% [14] - GFI is trading at a forward 12-month sales multiple of 5.87, compared to CDE's 3.85 [17] - The Zacks Consensus Estimate for GFI's fiscal 2025 sales implies an 81% year-over-year growth, while CDE's fiscal 2026 sales estimate suggests a 90% rise [19][22] Comparative Analysis - GFI benefits from a larger production base, producing over 2 million ounces of gold annually, while CDE has less diversity [24] - GFI's cost structure is more competitive, with lower all-in sustaining costs and wider operating margins supported by long-life assets [24] - GFI's reserve base is significantly higher, providing multi-year visibility and reduced replacement risk, while CDE faces more exposure to cost volatility and integration risks [24] - GFI is preferred for investors seeking stronger upside potential in the gold sector, holding a Zacks Rank of 1 (Strong Buy) compared to CDE's Zacks Rank of 3 (Hold) [25]

Industry Overview - The Zacks Mining - Non Ferrous industry is currently experiencing promising prospects due to rising metal prices and increasing demand for non-ferrous metals driven by energy-transition trends [1][4] - Non-ferrous metals such as copper, gold, silver, cobalt, molybdenum, zinc, aluminum, and uranium are essential across various sectors including aerospace, automotive, and renewable energy [3][6] - The industry is characterized by a complex and capital-intensive mining process, with companies focusing on reserve growth and resource enhancement through exploration and acquisitions [3] Metal Price Trends - Copper futures recently peaked at $5.1 per pound, marking a 25% increase over the past year, while silver prices surged 84% year-to-date, currently at $53 per ounce [4] - Gold prices have also risen by 58.8% year-to-date, reaching $4,150 per ounce, supported by expectations of lower interest rates and tightening supply [4] - Uranium prices recently retreated to $77 per pound after reaching a 14-month high of $84, with supply concerns easing [4] Demand Drivers - The demand for non-ferrous metals is expected to remain high, particularly due to the growth of electric vehicles and renewable energy initiatives [6] - The U.S. Infrastructure Investment and Jobs Act is anticipated to drive significant demand for non-ferrous metals as infrastructure upgrades and green policies are implemented [6] Industry Challenges - The industry faces challenges such as a shortage of skilled workforce, rising production costs, and supply chain issues, which have led to increased operational expenses [5] - Companies are focusing on cost-reduction strategies, digital innovation, and alternative energy sources to mitigate these challenges [5] Investment Opportunities - Companies like Southern Copper Corporation (SCCO), Lundin Mining Corporation (LUNMF), Coeur Mining (CDE), and Centrus Energy (LEU) are well-positioned to capitalize on industry growth through reserve building and technological investments [2][17][21][24] - SCCO has a significant capital investment program exceeding $15 billion, primarily in Peru, and is expected to produce substantial copper outputs in the coming years [17][18] - LUNMF has reported strong operational performance, with a year-to-date stock gain of 111.7% and an increase in copper production guidance [23] - Centrus Energy is expanding its uranium enrichment capabilities, with a revenue backlog of $3.9 billion and plans for significant production increases [26] Market Performance - The Zacks Mining - Non Ferrous industry has outperformed the Zacks Basic Materials sector, gaining 10.1% over the past year, while the sector declined by 3.6% [10] - The industry's current trailing 12-month EV/EBITDA ratio is 10.59X, significantly lower than the S&P 500's 18.43X, indicating potential valuation upside [13]

Group 1 - Coeur Mining, Inc. (NYSE:CDE) is recognized as one of the best silver mining stocks to invest in currently, with analysts highlighting it as a top pick in the Materials Sector [1][2] - BMO Capital analyst Kevin O'Halloran and Roth MKM both reiterated a Buy rating on Coeur Mining, with price targets set at $23 and $20 respectively [1][2] - Coeur Mining acquired New Gold Inc. in an all-stock transaction valued at approximately $7 billion, creating a leading precious metals producer focused on North America [2] Group 2 - The acquisition allows New Gold shareholders to receive 0.4959 shares of Coeur common stock for each New Gold share, implying a value of $8.51 per share, which represents a 16% premium to New Gold's closing price on October 31, 2025 [2] - Post-acquisition, existing Coeur shareholders will own approximately 62% of the combined entity, while New Gold shareholders will hold the remaining 38% [2] - Coeur Mining operates gold and silver mines across North America, focusing on producing silver and gold bullion [3]

Core Insights - Coeur Mining, Inc. achieved record free cash flow (FCF) of approximately $189 million, marking a nearly 29% increase from the previous quarter, equating to about $2 million generated per day [1][9] Production and Pricing - Gold production rose to 111,364 ounces, a 3% increase quarter-over-quarter, while silver production increased to 4.8 million ounces, up 57% year-over-year [2] - Realized prices for gold reached $3,148 per ounce and $38.93 per ounce for silver, contributing to the strong cash generation [2] Capital Expenditure Management - Capital expenditures (capex) normalized significantly, aiding in the conversion of operational strength into cash generation [3] - The company adopted a disciplined capital allocation strategy, focusing on essential projects and deferring non-critical spending, which enhanced capex efficiencies [4] Financial Performance Comparison - Southern Copper Corporation reported third-quarter operating cash flow of approximately $1.56 billion, an 8.4% increase year-over-year, with free cash flow of $1.210 billion [6] - Lundin Mining Corporation generated $168.9 million in free cash flow, supported by $270.3 million in cash from operations, driven by higher copper and gold prices [7] Stock Performance and Valuation - Coeur Mining's shares have increased by 142.3% year-to-date, outperforming the industry average rise of 21% [8] - The company is currently trading at a price-to-sales ratio of 5.3, which is a 43.2% premium to the industry average of 3.7 [10] Earnings Estimates - The Zacks Consensus Estimate for Coeur Mining's fiscal 2025 earnings is set at 91 cents, indicating a year-over-year growth of 406% [12]

Core Insights - Coeur Mining, Inc. (CDE) has experienced a significant year-to-date gain of 152.7%, outperforming the Zacks Mining-Non Ferrous industry's increase of 22.9% and the S&P 500's rise of 16% [1] - The company's strong performance is attributed to higher revenues, improved margins, and expectations of free cash flow exceeding $550 million for the full year [1] Price Performance - CDE's price performance is notably higher than its peers, with Southern Copper Corporation (SCCO) and Lundin Mining Corporation (LUNMF) showing share price increases of 39.4% and 110.4%, respectively [1][2] Technical Indicators - Technical indicators reveal that CDE is trading below both the 50-day and 200-day simple moving averages (SMA), with the 50-day SMA indicating a bullish trend as it is higher than the 200-day SMA [3] Production and Cost Control - In Q3 2025, Coeur reported combined production of 111,364 ounces of gold and 4.8 million ounces of silver, with adjusted costs at approximately $1,215 per ounce of gold and $14.95 per ounce of silver [4] - Key mines such as Las Chispas, Palmarejo, Kensington, and Wharf showed improvements, with Wharf's gold production increasing by 16% and Kensington's cost per ounce improving to $1,659 [5] Financial Performance - Coeur Mining ended Q3 2025 with $266.3 million in cash and equivalents, more than double the previous quarter's balance, and repaid over $228 million of debt, reducing total debt to $363.5 million [9] - The company generated $237.7 million in cash flow from operating activities during Q3 2025, up from $206.95 million in the previous quarter, supporting capital expenditures, debt repayment, and shareholder return initiatives [10] Capital Allocation and Share Repurchase - CDE initiated a $75 million share repurchase program, having repurchased nearly 10% of this authorization at an average price of $11.79 per share, reflecting management's confidence and disciplined capital allocation [11] Exploration and Growth Strategy - Coeur is advancing multiple growth fronts, with ongoing drilling at Las Chispas and Kensington, and significant resource potential identified at Wharf and Palmarejo [14][16] - The company is also expanding its land package at Silvertip and enhancing geological modeling ahead of a more intensive drill campaign [17] Earnings Estimates - The Zacks Consensus Estimate for 2025 earnings is currently pegged at 91 cents per share, indicating a year-over-year growth of 405.6% [19] Valuation Metrics - CDE is trading at a forward 12-month price-to-sales multiple of 5.53X, above the peer group average of 3.65X and its five-year median [20] Investment Consideration - Coeur's operational momentum, financial discipline, and multi-asset growth pipeline position it as a stronger and more future-ready company, making it an attractive investment consideration for those seeking resilience and long-term upside in the gold-silver sector [24][25]

Core Viewpoint - Gold mining stocks in the U.S. experienced a significant decline in pre-market trading, reflecting a broader downturn in the gold market as spot gold prices fell sharply [1] Group 1: Company Performance - Coeur Mining (CDE.US) saw a drop of over 7% in pre-market trading [1] - Kinross Gold (KGC.US) and Harmony Gold (HMY.US) both declined by more than 5% [1] - Gold Fields (GFI.US) experienced a decrease of over 3% [1] Group 2: Market Conditions - Spot gold prices fell nearly 3%, dropping below $4,100 to currently stand at $4,053 [1]

Gold is nearing a new all-time high yet again. So it was below 4,000. Now it's above 4,200.We have moves from Bill Baroo. You're buying. These are all new.No, not new. Core mining is new. Gold royalty is new.Agniko Eagle is an ad and Kin Ross is ad as well. So why the new. Tell me about the new ones.Core first. >> Core is new in our main portfolio and it is in addition to a 17 and a half% now holding in our concentrated mining out mining portfolio. Now they acquired New Gold. New gold.This this this is why ...

Core Insights - Coeur Mining (CDE) stock is positioned as a promising investment due to strong margins, a low-debt capital structure, and positive momentum [2][3] - The stock's performance is closely tied to gold prices nearing $4,300/oz and silver prices exceeding $53/oz [3] - A significant $7 billion acquisition of New Gold was announced, establishing Coeur Mining as a North American leader with anticipated production of 900,000 gold ounces and 20 million silver ounces in 2026, alongside an estimated $2 billion in free cash flow [3] Revenue and Profitability - Coeur Mining reported a revenue increase of 76.9% in Q3 2025 compared to the same quarter last year [3] - Over the last twelve months, revenue growth was 68.3%, with an average growth of 32.6% over the past three years [11] - The operating cash flow margin averaged about 18.4%, and the operating margin was 14.5% over the last three years [11] Market Position and Momentum - Coeur Mining ranks in the top 10 percentile for "trend strength," indicating strong momentum [11] - Despite its current momentum, CDE stock is trading 34% lower than its 52-week peak, suggesting potential for growth [11] Investment Strategy - The selection criteria for stocks include a market cap exceeding $2 billion, high operating and cash flow margins, no significant revenue declines in the last five years, a low-debt capital structure, and robust momentum [7] - The Trefis High Quality Portfolio, which includes Coeur Mining, has historically outperformed benchmark indices with superior returns and reduced risk [10]