Coeur Mining's stock price soared 5.04% during intraday trading on Wednesday, significantly outperforming the broader market.

The surge in the silver and gold miner's shares tracked a sharp rise in precious metals prices. Spot silver gained over 3%, while gold briefly climbed above the $5,000 per ounce mark, strengthening related mining equities. The rally in metal prices was driven by investors awaiting the minutes from the U.S. Federal Reserve's recent policy meeting for clues on the interest rate outlook, as well as the upcoming Personal Consumption Expenditures report. Market participants were also assessing simmering geopolitical risks, which boosted demand for safe-haven assets.

Additionally, investor attention may be turning towards the company's upcoming fourth-quarter earnings report, which is scheduled for release after the market closes.