Coeur Mining reported third-quarter revenues up 77% year-over-year, propelled by a 25% increase in realized silver and gold prices and stable production from its five wholly owned operations. The Las Chispas and Palmarejo complexes in Mexico delivered combined output of 1.2 million silver equivalent ounces, while Rochester, Kensington and Wharf contributed 900,000 ounces. Higher grades at Rochester’s leach pads and expanded milling capacity at Palmarejo added 150,000 ounces of incremental silver equivalent production during the quarter.

Since Q3 2024, Coeur has reduced its net debt by 45%, trimming total debt to $350 million and pushing the net debt-to-EBITDA ratio below 1.5x. This accelerated deleveraging stemmed from strong free cash flow of $130 million in the first nine months of 2025, enabling early repayment of its 2026 senior notes and the cancellation of a $50 million revolving credit facility tranche. Management forecasts net debt falling below $250 million by year end, positioning the company for potential share repurchases or strategic acquisitions.

Coeur’s shares have rallied 236% over the past 12 months, outperforming the S&P Metals & Mining index by 180 percentage points. This surge reflects investor optimism around higher metals prices and operational consistency, but it pushes the stock to a forward EV/EBITDA multiple of 8.2x, near historical highs. Analysts warn that a 10% correction in silver prices could erode earnings per share by 15%, signaling that further upside may depend on sustained commodity strength or new production growth.

Coeur will release fourth-quarter and full-year 2025 results after market close on Wednesday, February 18, 2026, and host a conference call at 11:00 a.m. Eastern Time on February 19. Chairman and CEO Mitchell J. Krebs will be joined by CFO Thomas S. Whelan, COO Michael Routledge and SVP of Exploration Aoife McGrath. Investors can access the live webcast or dial (855) 560-2581 (U.S.) using Conference ID 4243540, with replays available through February 26.