Core Insights - Coeur Mining, Inc. (CDE) is expected to report fourth-quarter 2025 results on February 18, with anticipated earnings of 42 cents per share, reflecting a 282% year-over-year increase [1][2][8] - The company's performance is driven by operational momentum from the Las Chispas and Rochester mines, disciplined cost control, and higher realized gold and silver prices [1][8] Earnings Expectations - The Zacks Consensus Estimate for fourth-quarter earnings has increased over the past 30 days, with the current estimate at 42 cents per share [2] - CDE has beaten the Zacks Consensus Estimate for earnings in two of the last four quarters, with an average earnings surprise of approximately 107% [4] Operational Performance - CDE's production is expected to benefit from record output across key assets, including Las Chispas, Palmarejo, Rochester, Kensington, and Wharf, contributing to robust volumes of gold and silver [10] - The company has implemented several operational improvements, such as smoother mine sequencing and better mill throughput, which are likely to enhance margins and cash flow [11][12] Financial Metrics - CDE's adjusted costs applicable to sales were reported at $1,215 per ounce for gold and $14.95 per ounce for silver, supporting healthy spreads relative to realized prices [12] - The company is currently trading at a forward 12-month sales multiple of 5.00, which is approximately a 6% discount compared to the industry average of 5.03X [17] Stock Performance - CDE's shares have increased by 216.8% over the past year, significantly outperforming the Zacks Mining – Non Ferrous industry's increase of 76.6% and the S&P 500's rise of 14% [14] - The stock's performance is also favorable compared to peers such as Lundin Mining Corporation, Southern Copper Corporation, and Freeport-McMoRan, which have seen increases of 196.5%, 103.4%, and 57.2%, respectively [14] Investment Thesis - Coeur Mining is positioned for stronger earnings momentum in Q4 2025 due to consistent production, higher precious metal prices, and improved operational efficiency [20][22] - The successful ramp-up of key projects and improved scale efficiencies are expected to lower unit costs and expand margins, enhancing financial flexibility [22]

Core Insights - Centrus Energy (LEU) is positioned to become a key player in the U.S. nuclear energy sector, supported by a favorable long-term outlook for uranium and strategic investments in production expansion [1][9][25] - The stock is currently trading at a forward price-to-sales ratio of 12.68, significantly higher than the industry average of 3.36 and the five-year median of 2.01, indicating an expensive valuation [1][2] Financial Performance - Centrus Energy's stock has increased by 431.2% year-to-date, outperforming the industry, which has seen a decline of 6.3% [4] - The company reported total revenues of $155 million in Q2 2025, an 18% decrease year-over-year, primarily due to the absence of uranium sales [15] - Earnings per share fell by 16% to $1.59, despite higher gross profit, due to increased selling, general, and administrative expenses [16] Production and Expansion Plans - Centrus Energy plans to expand its uranium enrichment plant in Piketon, Ohio, to increase production of Low-Enriched Uranium and High-Assay, Low-Enriched Uranium (HALEU) [9][12] - The company has raised over $1.2 billion and secured $2 billion in commitments to fund this expansion [7][12] - Centrus is the only U.S.-based enricher that manufactures centrifuges using American technology, differentiating it from foreign competitors [13] Market Outlook - Uranium prices have recently risen to $82 per pound, driven by expectations of increased nuclear power capacity and policy initiatives [17] - The HALEU market is projected to grow from $0.26 billion in 2025 to $6.14 billion by 2035, with Centrus aiming to meet domestic demand through its expansion plans [23] Debt and Valuation Concerns - Centrus Energy has a total debt-to-total capital ratio of 0.55, which is higher than peers like Cameco (0.13) and Energy Fuels (debt-free) [18] - Despite upward revisions in earnings estimates, the projected earnings for 2025 and 2026 indicate year-over-year declines of 3.4% and 24.7%, respectively [19][20]