5 Most Undervalued Silver Mining Stocks to Buy Now

4. Coeur Mining, Inc. (NYSE:CDE)

With a forward P/E of 8.77x, Coeur Mining, Inc. (NYSE:CDE) ranks among the most undervalued silver mining stocks to buy now. Meanwhile, analysts see 66.30% upside for the stock.

Recent developments, including a Scotiabank analyst resuming coverage, record Q1 results, and the closing of a transformative acquisition, all indicate a materially larger and more cash-generative Coeur Mining, Inc. (NYSE:CDE).

On June 12, 2026, Scotiabank analyst Eric Winmill resumed coverage of Coeur Mining, Inc. (NYSE:CDE) with an “Outperform” rating and a $27.50 price target. Winmill told investors that following a series of strategic acquisitions and expansions, Coeur’s consolidated production is on track to surpass 1 million gold-equivalent ounces in 2026, which the firm expects to drive free cash flow of more than $2 billion at spot prices for the year.

That view is grounded in a strong Q1 2026 showing.

On May 6, 2026, Coeur Mining, Inc. (NYSE:CDE) reported record quarterly results, with revenue of $856 million, record EBITDA of $475 million, up 12% quarter-over-quarter and nearly fourfold year-over-year, and free cash flow of $267 million, even after absorbing more than $200 million in quarter-specific and one-time items. Silver production rose 18%, and gold production climbed 11% year over year.

Management reaffirmed full-year guidance of more than $3 billion in EBITDA and $2 billion in free cash flow, noting those projections assume only partial contributions from the newly acquired New Afton and Rainy River mines. Cash and equivalents grew nearly elevenfold over the past year to $843 million.

The Q1 results included just eleven days of contribution from those assets, which came to Coeur Mining, Inc. (NYSE:CDE) via the completion of its New Gold acquisition in March 2026. Under the deal, New Gold shareholders received 0.4959 Coeur shares per share, with Coeur issuing approximately 392.7 million new shares, bringing shares outstanding to roughly 1.03 billion post-close.

Coeur Mining, Inc. (NYSE:CDE) is a gold and silver producer in the U.S., Canada, and Mexico. The company explores for gold, silver, zinc, lead, and other related metals. It markets and sells its concentrates to third-party customers, including refiners and smelters, under off-take agreements.