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Coeur Mining earns all its revenue from gold and silver sales, with gold contributing the larger share. Its mines include Las Chispas and Palmarejo in Mexico and operating mines in the United States. Most sales come from metal that outside refiners turn into gold and silver bullion, which Coeur sells to multinational banks, bullion trading houses and refiners. Kensington in Alaska follows a different route: Coeur sells its gold concentrate under a long-term purchase agreement and ships it to outside smelters.
Bank of Montreal buys the majority of Coeur’s metal sales, making it the largest customer. Earnings depend heavily on gold and silver prices and on continued access to refiners and smelters. At Palmarejo, Coeur must sell part of its gold production to a Franco-Nevada subsidiary at a contractually capped price under a gold stream agreement. Sustaining production also requires replacing finite mine reserves through exploration, expansion or acquisitions. Mining depends on government permits and water rights; Mexican mining and water laws can restrict the rights needed to operate.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Coeur’s results hinge on gold and silver prices and mine performance, but watch its announced New Gold acquisition: adding New Afton and Rainy River would materially reshape its mining footprint.
Pan American Silver shares Coeur’s exposure to gold and silver prices and Mexican mining conditions because both mine and sell those metals and have substantial operations in Mexico. Its Juanicipio silver mine interest is one place to watch Mexican silver production.
Hecla Mining shares Coeur’s North American silver and gold exposure, with both operating mines near Juneau and selling unrefined metal or concentrates to processors and metal traders. Hecla’s Greens Creek mine offers a nearby comparison for Coeur’s Kensington operation, though their metal mixes differ.
First Majestic Silver’s earnings face the same gold and silver prices and Mexican operating conditions as Coeur’s, since both run producing silver-gold mines there. Watch production across First Majestic’s four operating Mexican mines rather than its First Mint retail bullion sales for the closer mining comparison.
Endeavour Silver and Coeur both earn money from Mexican silver-gold mines, so the bullion and concentrates they sell respond to the same metal prices. Endeavour sells refined Guanaceví silver through an agent on commodity exchanges and gold-silver concentrates to metal traders; Guanaceví supplied 41% of its consolidated revenue in 2025.
Franco-Nevada buys 50% of Coeur’s eligible Palmarejo gold output at the lesser of $800 per ounce or spot gold under a metal-purchase agreement called a stream, so that portion does not earn Coeur the full benefit of gold prices above $800. Gold from certain properties acquired in 2015 and 2024 is excluded; watch Palmarejo deliveries to Franco-Nevada alongside the mine’s sales.
Kinross Gold and Coeur share gold-price exposure through mines in Alaska and Nevada and sales into the bullion market. Kinross refines its mined metal and sells the gold to banks and refiners, making its gold sales a cleaner gold-market comparison than Coeur’s mixed gold-silver revenue.
Alamos Gold and Coeur both produce gold in Sonora, Mexico, while gold prices also affect earnings from their other mines. Watch Alamos’s Mulatos production for the regional comparison with Coeur’s Las Chispas, rather than its Canadian mine output.
Agnico Eagle and Coeur both earn revenue by mining precious metals, operate in Mexico and depend principally on gold. Agnico traditionally sells its production at spot gold prices, so its gold sales show price exposure more directly than Coeur’s production that may be hedged.
Newmont shares Coeur’s gold and silver exposure and operates in both the United States and Mexico, but its much larger global mining portfolio makes it a less direct comparison. Watch Newmont’s energy, labor and equipment cost commentary for mining-cost context, rather than treating its total gold output as a guide to Coeur’s mines.
Barrick Mining’s gold mines, including its Nevada operations, respond to the same gold prices as Coeur’s mines, but Barrick also earns substantial revenue from copper. Its gold-mine results are the relevant comparison; copper results can move Barrick without saying much about Coeur’s gold and silver sales.
Wheaton Precious Metals shares Coeur’s gold and silver price exposure, but buys metals from mine operators rather than mining them itself, so their operating-cost profiles differ. Wheaton pays upfront and a contractually fixed amount on delivery under purchase agreements called streams; watch its realized metal prices separately from deliveries by the mines it finances.
Fortuna Mining and Coeur both earn mining revenue principally from gold and silver, so metal prices connect their results despite different operating regions. Fortuna’s gold comes from Lindero in Argentina and Séguéla in Côte d’Ivoire, while Caylloma in Peru produces silver alongside lead and zinc—not a direct comparison for Coeur’s U.S. and Mexican mines.
Silvercorp Metals shares Coeur’s silver-price exposure, but its producing mines are in China and also produce lead and zinc, creating different operating risks. Watch silver production at Ying in Henan and GC in Guangdong for the silver comparison, rather than reading their lead-zinc output as a signal for Coeur.
Americas Gold and Silver shares Coeur’s silver-price exposure and mining conditions in the United States and Mexico, but sells silver-bearing zinc, lead and copper concentrates rather than the same product mix. Its Galena operation in Idaho and Cosalá operation in Sinaloa are the producing-mine comparisons; it says alternative processing and sales options keep it from depending on one buyer.
Agnico Eagle Mines Ltd. earningsAEM
Agnico Eagle's gold prices and sales show how gold prices reach a miner's revenue, offering a reference for Coeur Mining's gold business.
Read Agnico Eagle's realized gold price alongside its gold sales. If both rise, spot gold prices are reaching the producer's revenue; if gold prices rise but sales do not follow, mine output or operating factors may be offsetting that effect. Coeur also sells silver, and some of its gold revenue is affected by price protection or a metal-stream agreement, so this is a reference, not a substitute for Coeur's results.
Alamos Gold Inc. earningsAGI
Alamos Gold's Mulatos mine output and costs offer a same-region reference for Coeur Mining's Las Chispas gold mine in Sonora.
Compare Mulatos gold output and unit costs with the corresponding figures for Las Chispas. Steady output and controlled costs would show no clear regional strain in Alamos Gold's Sonora operation; falling output or rising costs would make regional pressure worth watching. The mines have their own conditions, so neither outcome establishes what is happening at Las Chispas.
Fed Interest Rate Decision
The Fed’s rate decision affects the cost of borrowing across the economy, which can raise or lower Coeur Mining’s interest expense on debt that reprices and on future borrowing or refinancing.
Expected4.0%Last release4.0%
If it comes in above expectations
If rates are higher than expected, Coeur’s borrowing or refinancing may cost more, leaving less cash for mine operations and investment.
If it comes in below expectations
If rates are lower than expected, Coeur’s borrowing or refinancing may cost less, leaving more cash available for mine operations and investment.
Coeur Mining, Inc. earningsThis company
Coeur Mining's report will show whether gold and silver sales still generate cash after mine costs.
Read gold and silver ounces sold and realized prices alongside mine costs and operating cash flow. Stronger sales or prices, controlled costs and higher cash flow would show that the mines are keeping more of the value they produce. Weaker sales or prices, or rising costs and lower cash flow, would mean less cash from each ounce and put the capacity to keep funding mine investment in question.
FIRST MAJESTIC SILVER CORP earningsAG
Production from First Majestic Silver's four operating Mexican mines shows how another gold-and-silver miner is delivering metal in Mexico, for comparison with Coeur Mining's Mexican mines.
Look at production from First Majestic Silver's four operating mines, not its First Mint retail bullion business. Steady or rising output means those mines are still delivering metal; falling output signals pressure at its operations. The companies share Mexican operating conditions, but each mine differs, so this report is a comparison, not an answer to how much Coeur produces.
Hecla Mining Company earningsHL
Hecla Mining's nearby Greens Creek mine offers a view of operating conditions in the same Alaska region as Coeur Mining's Kensington mine.
Compare changes in production and mine operating costs at Greens Creek and Kensington; their different metal mixes make absolute cost per ounce a poor direct comparison. Steady output and controlled costs would show no clear operating strain at Hecla's nearby mine. Weaker output or higher costs would make local pressures worth checking, but would not prove that Kensington is affected.
Franco-Nevada Corporation earningsFNV
Franco-Nevada's report will show how much eligible gold it receives from Coeur Mining's Palmarejo mine, helping readers see how much production is covered by their metal-stream agreement.
Compare Franco-Nevada's reported Palmarejo gold deliveries with Coeur Mining's mine sales and production. A metal-stream agreement is a contract to buy specified metal production; for eligible Palmarejo gold under this agreement, Franco-Nevada pays the lower of $800 per ounce or the spot gold price. Higher deliveries mean more gold is covered by that pricing term; when spot gold is above $800, Coeur does not receive the full spot price for those ounces.
