10 Most Undervalued Silver Mining Stocks to Buy According to Analysts

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

Average Upside Potential: 47.19%

Number of Hedge Fund Holders: 37

Forward P/E ratio: 10.05

Coeur Mining, Inc. (NYSE:CDE), one of the most undervalued silver mining stocks, operates in Canada, Mexico, and the U.S. The company sells concentrates under off-take agreements and produces silver, lead, zinc, and gold. It currently operates five active mines, including the recently acquired Las Chispas operation and the newly expanded Rochester mine.

Coeur Mining, Inc. (NYSE:CDE) reported revenue that surpassed $1 billion, showcasing strong financial performance for the year ending December 31, 2024. High silver and gold production from Rochester and Palmarejo primarily drove the adjusted EBITDA to $339 million. The free cash flow turned positive as the company took advantage of increased operating efficiencies and higher metal sales, achieving $85 million in the second half.

In 2025, Coeur predicts that silver production will surpass 18 million ounces, reflecting a 62% rise year-over-year. Las Chispas’s integration is projected to further enhance output, while Rochester’s expansion is forecast to produce a 50% increase in silver production. Due to improved mine sequencing, silver equivalent costs per ounce are predicted to drop by 15%, and Palmarejo remains a major contributor.

Despite these positive trends, Q1 2025 results may be affected by one-time tax payments and transition costs from the Silvercrest acquisition, according to Coeur Mining, Inc. (NYSE:CDE) forecasts. However, with the goal of repaying its revolving credit facility by mid-year, the company anticipates that free cash flow will reach $75 million to $100 million per quarter starting in Q2. Coeur maintains its position as one of the most undervalued stocks in the market with its debt reduction strategies, strong production growth, and cost improvements.

Overall, Coeur Mining, Inc. (NYSE:CDE) ranks first on our list of the 10 Most Undervalued Silver Mining Stocks to Buy According to Analysts. While we acknowledge the potential of CDE, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CDE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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