Coeur Mining, Inc. (CDE) shares climbed sharply in Thursday afternoon trading, rising approximately 5.2% to $16.205 on robust volume. The move came as traders positioned for the company's planned addition to the S&P MidCap 400 Index, set to take effect before the market opens on June 22. The stock traded in a range of $15.26 to $16.45, with volume exceeding 23.7 million shares by 2:51 p.m. EDT.
The company's market capitalization reached approximately $16.76 billion, keeping it firmly on the radar of mid-cap materials investors as the index change approaches. CDE shares have exhibited some volatility recently, closing at $15.41 on June 10 after trading at $16.73 on June 8 and $16.09 on June 9.
The broader precious metals sector also enjoyed a strong session. The Global X Silver Miners ETF (SIL) rose about 5.0% to near $77.98, while the iShares Silver Trust (SLV) added 3.9%. The VanEck Gold Miners ETF (GDX) gained 4.4%. Coeur's advance was supported by this sector-wide rally, not solely by company-specific news.
S&P Dow Jones Indices announced that Coeur Mining will join the S&P MidCap 400 before the open on Monday, June 22, as part of its regular quarterly rebalance. Coeur will enter the Materials sector, replacing BellRing Brands. The company's management linked the index inclusion to its growth following two recent acquisitions and its position as a senior precious metals producer with a North American footprint. Coeur emphasized that the S&P MidCap 400 is a key benchmark for institutional investors and index funds focused on mid-cap U.S. stocks.
Investor outreach continues as well. Coeur announced that Chairman, President and CEO Mitchell J. Krebs and CFO Thomas S. Whelan will attend the RBC Capital Markets Global Mining & Materials Conference in New York on Thursday. Presentation materials will be made available on the company's website.
The index upgrade comes on the heels of two major acquisitions. Coeur completed its buyout of New Gold on March 20, issuing approximately 392.7 million shares, bringing total outstanding shares to nearly 1.03 billion. Earlier, in February 2025, Coeur closed its acquisition of SilverCrest, issuing about 239.3 million shares. These deals have transformed Coeur's portfolio, which now includes seven operating sites: New Afton in British Columbia, Rainy River in Ontario, Las Chispas and Palmarejo in Mexico, Rochester in Nevada, Kensington in Alaska, and Wharf in South Dakota, along with the Silvertip exploration project in British Columbia.
Coeur's first-quarter 2026 earnings provided additional momentum. The company reported revenue of $856 million, cash flow from operations of $341 million, and GAAP net income from continuing operations of $247 million, or $0.35 per share. Production in the quarter totaled 96,503 ounces of gold and 4.4 million ounces of silver, and the company maintained its full-year production guidance for gold, silver, and copper.
Capital allocation is also in focus. Coeur introduced its first-ever dividend of $0.02 per share for the first half of 2026, payable June 10 to holders of record. This aligns with a new semiannual dividend policy. Additionally, the company announced a larger $750 million share buyback program and a new $1 billion revolving credit line.
