Silver/Gold trade: With precious metals popping to ATH's, we bought shares of Coeur Mining Inc NYSE:CDE - Here's why!

 

Coeur Mining Corp

Revised Scenario (2025–2027, with $4,000 gold / $50 silver)

Case	Assumptions	Revenue (est.)	FCF (est.)	Stock Potential
Bull (now baseline)	Gold $4,000+, Silver $50, steady ops, costs flat	$2.5–2.8B	$1.0–1.2B+	Stock could 2–3× from here (i.e., $40–$60/share)
Base (pullback)	Gold $3,000–3,500, Silver $35–40	$1.8–2.2B	$600–800M	Stock could +50–100%
Bear (deep correction)	Gold <$2,500, Silver <$25	$1.0–1.4B	Break-even to $200M	Stock could retrace to –40–60% from current

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⚖️ Here’s a simplified list of the main institutional investors in Coeur Mining (CDE):

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🏦 Biggest Holders

• Vanguard Group – about 10%

• BlackRock – about 9%

• Van Eck (GDXJ / gold miner funds) – about 6–7%

• State Street (SSGA) – about 3–4%

• Mirae Asset Global Investments – about 2–3%

• Dimensional Fund Advisors – about 2–3%

• Geode Capital (index manager for Fidelity funds) – about 2–3%

• Arrowstreet Capital – about 1–2%

• Sprott Inc. – about 1–2% (specialist in gold/silver)

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✅ Key point: Roughly 70–75% of CDE is owned by institutions, with the big ETF managers (Vanguard, BlackRock, Van Eck) holding the largest stakes.

Investment Takeaway Under Current Prices

• CDE transforms from a mid-tier producer into a “cash-machine” with strong leverage to silver.

• The SilverCrest acquisition (Las Chispas) now looks prescient — it greatly increased CDE’s silver exposure right before an all-time-high rally.

• Compared to majors (Newmont, Agnico), CDE’s torque to silver is higher, so its upside is greater.

• Risk remains (prices could correct, mining hiccups, integration risk), but in a $4,000 gold / $50 silver environment, CDE should massively outperform.