CDE vs. FSM

Last updated Apr 1, 2026

Compare and contrast key facts about Coeur Mining, Inc. (CDE) and Fortuna Silver Mines Inc. (FSM).

Performance

CDE vs. FSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Coeur Mining, Inc. (CDE) and Fortuna Silver Mines Inc. (FSM). The values are adjusted to include any dividend payments, if applicable.

CDE vs. FSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CDE Coeur Mining, Inc.	5.27%	211.71%	75.46%	-2.98%	-33.33%	-51.30%	28.09%	80.76%	-40.40%	-17.49%
FSM Fortuna Silver Mines Inc.	1.22%	128.67%	11.14%	2.93%	-3.85%	-52.67%	101.96%	12.09%	-30.27%	-7.61%

Fundamentals

EPS CDE : $0.63 FSM : $0.91
PE Ratio CDE : 29.71 FSM : 10.90
PEG Ratio CDE : 0.25 FSM : 0.16
PS Ratio CDE : 7.14 FSM : 3.01
Total Revenue (TTM) CDE : $1.70B FSM : $1.04B
Gross Profit (TTM) CDE : $835.24M FSM : $502.09M
EBITDA (TTM) CDE : $695.36M FSM : $670.30M

Returns By Period

In the year-to-date period, CDE achieves a 5.27% return, which is significantly higher than FSM's 1.22% return. Over the past 10 years, CDE has outperformed FSM with an annualized return of 12.78%, while FSM has yielded a comparatively lower 9.71% annualized return.

CDE

• 1D: 13.76%
• 1M: -30.87%
• YTD: 5.27%
• 6M: 0.05%
• 1Y: 217.06%
• 3Y*: 67.56%
• 5Y*: 14.88%
• 10Y*: 12.78%

FSM

• 1D: 6.09%
• 1M: -27.31%
• YTD: 1.22%
• 6M: 10.83%
• 1Y: 62.79%
• 3Y*: 37.50%
• 5Y*: 8.03%
• 10Y*: 9.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CDE vs. FSM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CDE

CDE Risk / Return Rank: 93
CDE Sharpe Ratio Rank: 96
CDE Sortino Ratio Rank: 93
CDE Omega Ratio Rank: 92
CDE Calmar Ratio Rank: 94
CDE Martin Ratio Rank: 92

FSM

FSM Risk / Return Rank: 74
FSM Sharpe Ratio Rank: 76
FSM Sortino Ratio Rank: 71
FSM Omega Ratio Rank: 71
FSM Calmar Ratio Rank: 74
FSM Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CDE vs. FSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Coeur Mining, Inc. (CDE) and Fortuna Silver Mines Inc. (FSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CDE	FSM	Difference
Sharpe ratio Return per unit of total volatility	2.93	1.04	+1.89
Sortino ratio Return per unit of downside risk	3.10	1.59	+1.51
Omega ratio Gain probability vs. loss probability	1.41	1.22	+0.20
Calmar ratio Return relative to maximum drawdown	5.15	1.67	+3.48
Martin ratio Return relative to average drawdown	12.59	5.57	+7.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDE vs. FSM - Sharpe Ratio Comparison

The current CDE Sharpe Ratio is 2.93, which is higher than the FSM Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of CDE and FSM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CDE	FSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.93	1.04	+1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.14	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	0.16	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.14	-0.24

Correlation

The correlation between CDE and FSM is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CDE vs. FSM - Dividend Comparison

Neither CDE nor FSM has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

CDE vs. FSM - Drawdown Comparison

The maximum CDE drawdown since its inception was -99.40%, which is greater than FSM's maximum drawdown of -92.25%. Use the drawdown chart below to compare losses from any high point for CDE and FSM.

Drawdown Indicators

	CDE	FSM	Difference
Max Drawdown Largest peak-to-trough decline	-99.40%	-92.25%	-7.15%
Max Drawdown (1Y) Largest decline over 1 year	-40.44%	-37.26%	-3.18%
Max Drawdown (5Y) Largest decline over 5 years	-81.79%	-73.74%	-8.05%
Max Drawdown (10Y) Largest decline over 10 years	-87.42%	-81.07%	-6.35%
Current Drawdown Current decline from peak	-93.50%	-27.31%	-66.19%
Average Drawdown Average peak-to-trough decline	-81.43%	-45.35%	-36.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.54%	11.18%	+5.36%

Volatility

CDE vs. FSM - Volatility Comparison

Coeur Mining, Inc. (CDE) has a higher volatility of 25.68% compared to Fortuna Silver Mines Inc. (FSM) at 20.19%. This indicates that CDE's price experiences larger fluctuations and is considered to be riskier than FSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDE	FSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.68%	20.19%	+5.49%
Volatility (6M) Calculated over the trailing 6-month period	58.43%	45.88%	+12.55%
Volatility (1Y) Calculated over the trailing 1-year period	74.66%	60.84%	+13.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.32%	57.92%	+10.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.95%	60.09%	+8.86%

Financials

CDE vs. FSM - Profitability Comparison

The chart below illustrates the profitability comparison between Coeur Mining, Inc. and Fortuna Silver Mines Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CDE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Coeur Mining, Inc. reported a gross profit of 305.83M and revenue of 554.57M. Therefore, the gross margin over that period was 55.2%.

FSM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Fortuna Silver Mines Inc. reported a gross profit of 148.06M and revenue of 272.03M. Therefore, the gross margin over that period was 54.4%.

CDE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Coeur Mining, Inc. reported an operating income of 177.09M and revenue of 554.57M, resulting in an operating margin of 31.9%.

FSM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Fortuna Silver Mines Inc. reported an operating income of 121.35M and revenue of 272.03M, resulting in an operating margin of 44.6%.

CDE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Coeur Mining, Inc. reported a net income of 266.82M and revenue of 554.57M, resulting in a net margin of 48.1%.

FSM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Fortuna Silver Mines Inc. reported a net income of 69.11M and revenue of 272.03M, resulting in a net margin of 25.4%.