Shares of Coeur Mining (CDE) declined sharply in mid-day trading, falling 8.5% to $15.945 after the company released its results for the quarter ended June 2026. The precious-metals producer reported adjusted earnings per share of $0.12, substantially below the consensus estimate of roughly $0.32. Revenue for the quarter was $1.08 billion, about 17.6% lower than the approximately $1.31 billion analysts had expected.
While the quarter delivered record revenue above $1 billion and record free cash flow of $388 million, the company flagged a significant non-cash accounting item that materially affected headline figures. Management disclosed a $140 million purchase price allocation charge related to Rainy River’s stockpile inventory, which translated into roughly a $0.10 per-share drag that investors had not fully anticipated.
In addition to the accounting impact, Coeur updated its 2026 guidance. The revision reflects lower assumed metal prices and operational adjustments at its recently acquired New Afton and Rainy River mines. Those changes, management said, contributed to a less favorable near-term outlook and heightened uncertainty around the year’s results.
BMO Capital responded to the results and guidance adjustment by retaining its Outperform rating on Coeur Mining but cutting its price target to $26 from $28, signaling a tempered earnings outlook from that analyst house.
The company held its earnings conference call at 11:00 a.m. Eastern Time, hosted by CEO Mitchell J. Krebs and CFO Thomas S. Whelan. Comments from management about integration costs and the guidance update kept the stock under pressure through the morning session as investors digested the details.
The U.S. equity market offered only modest support during the session. The S&P 500 slipped 0.3%, the Dow Jones Industrial Average fell 0.8%, and the NASDAQ eased 0.2%, contributing a mildly risk-off macro backdrop for risk assets, including mining equities.
Across the trading day, the stock moved toward the lower end of its intraday range of $15.79 - $16.435, and remained well below its 52-week high of $27.77. Market participants weighed the combination of a steep earnings miss, a sizable non-cash accounting headwind, and a guidance cut, which together proved difficult for the shares to absorb in a single session. Despite the near-term sell-off, the company’s longer-term operational expansion through its North American asset base was described as intact by the report.
Conference call details
The earnings call was led by CEO Mitchell J. Krebs and CFO Thomas S. Whelan at 11:00 a.m. Eastern Time on the day of the release.