12 Most Promising Gold Stocks According to Hedge Funds

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

Number of Hedge Fund Investors: 28

Coeur Mining, Inc. (NYSE:CDE) is a diversified precious metals producer primarily focused on the extraction and production of silver and gold. The company operates four key mines: Rochester in Nevada, Palmarejo in Mexico, Kensington in Alaska, and Wharf in South Dakota. On October, 4, Coeur Mining, Inc. (NYSE:CDE) announced the acquisition of SilverCrest Metals, upon completion, the combined entity is expected to produce over 432,000 ounces of gold annually, with an estimated EBITDA of $700 million and free cash flow of approximately $350 million in 2025.

To drive growth, Coeur Mining, Inc. (NYSE:CDE) is focused on optimizing its existing operations to maximize efficiency and reduce costs. At the Rochester mine, the company has made significant strides in production and cost reduction. In Q3, the Rochester mine’s gold production increased by approximately 20% compared to the previous quarter, driven by improved operational metrics and optimization efforts. The company is also refining processes, such as particle size optimization, to enhance the mine’s long-term performance.

Coeur Mining, Inc. (NYSE:CDE) is also actively focusing on reducing its debt levels. The company generated $69 million in free cash flow in Q3, which was primarily used to pay down its revolving credit facility. This has led to a significant reduction in the net debt-to-EBITDA ratio, which is now below 2x for the first time in three years. Looking ahead, Coeur Mining, Inc. (NYSE:CDE) plans to continue deleveraging and is well-positioned to fully repay the revolver by mid-2025.