Why Coeur Mining Stock Popped Today
Key Points
Coeur Mining reported its 2025 gold and silver reserves last night.
Proven and probable gold reserves alone are worth 50% more than Coeur itself.
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Coeur Mining (NYSE: CDE) stock jumped 5.7% through 11:15 a.m. ET Wednesday after updating last night its year-end totals for "mineral reserves and resources" through the end of 2025.
The highlight: Coeur has at least 4.4 million ounces of gold in the ground. At current prices of $5,020 an ounce, Coeur's gold alone is worth $22.1 billion -- 49% more than Coeur's own stock is worth.
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Coeur reserves
According to Coeur, it currently has "proven and probable mineral reserves" of 4.4 million ounces of gold and 274.4 million ounces of silver. Additionally, the company estimates it has a further 3.1 million ounces of gold "measured and indicated," 172 million ounces of silver also measured and indicated, 3.8 million ounces of gold "inferred," and 141.8 million ounces of silver, also inferred.
That's a lot of gold and silver.
(It's worth pointing out that there's less confidence in "measured and indicated" reserves than in "proven and probable," and even less confidence in "inferred" reserves. Furthermore, the amounts of proven and probable reserves are determined in part by the economic reasonableness of trying to dig them up. Simply put, when gold is worth more, making it more profitable to mine it, "proven and probable" reserves go up.)
Gold and silver measured and indicated mineral resources decreased 18% and 14% year-over-year, respectively.
Of less interest to gold and silver investors, Coeur noted it also has measured and indicated reserves of 1,234 million pounds of zinc and 685.5 million pounds of lead.
Is Coeur Mining stock a buy?
Coeur's reserve estimates seem sound. The numbers should hold true so long as gold sells for at least $2,200 per ounce, and silver for $26. Furthermore, with the stock still trading below 12 times earnings, Coeur Mining stock looks cheap enough to buy.
Should you buy stock in Coeur Mining right now?
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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