Earnings summaries and quarterly performance for Coeur Mining.
Executive leadership at Coeur Mining.
Mitchell Krebs
Detailed
Chairman, President & Chief Executive Officer
CEO
Aoife McGrath
Detailed
Senior Vice President, Exploration
Casey Nault
Detailed
Senior Vice President, General Counsel & Secretary
Emilie Schouten
Detailed
Senior Vice President & Chief Human Resources Officer
Kenneth Watkinson
Detailed
Vice President, Corporate Controller & Chief Accounting Officer
Michael Routledge
Detailed
Senior Vice President & Chief Operating Officer
Thomas Whelan
Detailed
Senior Vice President & Chief Financial Officer
Board of directors at Coeur Mining.
Research analysts who have asked questions during Coeur Mining earnings calls.
Joseph Reagor
ROTH Capital Partners
5 questions for CDE
Also covers: ASM, HL, LEU +6 more
Brian MacArthur
Raymond James Financial, Inc.
2 questions for CDE
Also covers: CCJ, CGAU, FCX +9 more
Michael Siperco
RBC Capital Markets
2 questions for CDE
Also covers: AGI, HL, NGD
Alex Terentiew
National Bank Financial
1 question for CDE
Also covers: EXK, HL
Kevin O'Halloran
BMO Capital Markets
1 question for CDE
Also covers: HL, SVM
Michael Parkin
National Bank Financial
1 question for CDE
Also covers: AEM, AGI, CGAU +6 more
Wayne Lam
TD Securities
1 question for CDE
Also covers: AG, BTG, EQX +4 more
Recent press releases and 8-K filings for CDE.
Coeur Mining to Acquire New Gold
CDE
M&A
Guidance Update
- Coeur Mining, Inc. (CDE) has entered into a definitive agreement to acquire all of the issued and outstanding shares of New Gold Inc. (NGD).
- Under the terms of the agreement, New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold common share, implying consideration of $8.51 per New Gold common share based on Coeur's closing price on October 31, 2025. This represents a 16% premium to New Gold's closing price on the NYSE American on October 31, 2025.
- The transaction implies a total equity value of approximately $7 billion for New Gold, resulting in a pro forma combined equity market capitalization of approximately $20 billion.
- The combined company is expected to generate approximately $3.0 billion of EBITDA and approximately $2.0 billion of free cash flow in 2026, a material increase from Coeur's expected 2025 figures of approximately $1 billion EBITDA and $550 million free cash flow.
Nov 3, 2025, 10:30 PM
Coeur Mining to Acquire New Gold
CDE
M&A
New Projects/Investments
Guidance Update
- Coeur Mining announced it will acquire all outstanding common shares of New Gold via a plan of arrangement, with New Gold shareholders receiving 0.4959 Coeur shares for each New Gold share. This implies a total equity value of approximately $7 billion and represents a 16% premium based on New Gold's closing share price last Friday.
- The transaction is expected to create the industry's only all-North American senior precious metals mining company, resulting in a $20 billion US-based precious metals producer.
- The combined company is projected to achieve approximately $3 billion in EBITDA and $2 billion in free cash flow in 2026.
- Combined production for 2026 is expected to be approximately 20 million ounces of silver, 900,000 ounces of gold, and 100 million pounds of copper, or approximately 1.25 million gold-equivalent ounces. Over 80% of the combined company's 2026 revenue will be generated from U.S. and Canadian operations.
- The transaction is expected to close in the first half of 2026.
Nov 3, 2025, 1:00 PM
Coeur Mining Announces Acquisition of New Gold
CDE
M&A
New Projects/Investments
Guidance Update
- Coeur Mining announced its acquisition of New Gold on November 3, 2025.
- The transaction has an equity value of approximately $7 billion and implies a 16% premium for New Gold shareholders based on its closing share price on October 31, 2025. New Gold shareholders will receive 0.4959 of a Coeur share for each New Gold share held.
- Upon closing, Coeur and New Gold shareholders are expected to own approximately 62% and 38% of the combined company, respectively. The combined entity is projected to have an approximate $20 billion market capitalization.
- The combined company is expected to generate approximately $3.0 billion of EBITDA and $2.0 billion of free cash flow in 2026. It is also expected to produce approximately 20 million ounces of silver, 900,000 ounces of gold, and 100 million pounds of copper.
- The acquisition creates an "All North American Senior Precious Metals Producer" with seven high-quality North American operations.
Nov 3, 2025, 1:00 PM
Coeur Mining announces acquisition of New Gold
CDE
M&A
Guidance Update
New Projects/Investments
- Coeur Mining (CDE) announced the acquisition of New Gold via a plan of arrangement, with New Gold shareholders receiving 0.4959 Coeur shares for each New Gold share, implying a total equity value of approximately $7 billion and representing a 16% premium based on New Gold's closing share price last Friday.
- The combined company is expected to be a $20 billion U.S.-based precious metals producer, ranking among the world's top 10 largest precious metals companies and remaining a top five global silver producer. Over 80% of its 2026 revenue is projected to come from U.S. and Canadian operations.
- The transaction is anticipated to result in 2026 EBITDA of approximately $3 billion and free cash flow of approximately $2 billion, leading to a net cash position at closing and approximately 40% free cash flow per share accretion for Coeur stockholders.
- Combined production for next year (2026) is expected to be approximately 20 million ounces of silver, 900,000 ounces of gold, and 100 million lbs of copper, totaling approximately 1.25 million gold-equivalent ounces.
- Shareholder meetings are expected in the first quarter of next year, with the transaction anticipated to close in the first half of 2026, subject to customary deal protections, stock exchange, and regulatory approvals.
Nov 3, 2025, 1:00 PM
Coeur Announces Acquisition of New Gold
CDE
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- Coeur (CDE) announced the acquisition of all outstanding common shares of New Gold, with New Gold shareholders set to receive 0.4959 Coeur shares for each New Gold share. This implies a total equity value of approximately $7 billion and represents a 16% premium based on New Gold's closing share price last Friday.
- Upon completion, existing Coeur and New Gold shareholders will own approximately 62% and 38% of the combined company, respectively. The transaction requires 66 2/3% shareholder approval from New Gold and majority approval from Coeur stockholders, with shareholder meetings expected in the first quarter of next year and closing anticipated in the first half of 2026.
- The combined entity is projected to be a $20 billion US-based precious metals producer, positioning it among the world's top 10 largest and maintaining its status as a top five global silver producer.
- For 2026, the combined company is expected to achieve approximately $3 billion in EBITDA and $2 billion in free cash flow. Production is anticipated to be around 20 million ounces of silver, 900,000 ounces of gold, and 100 million pounds of copper, or approximately 1.25 million gold-equivalent ounces.
- The transaction is expected to be per share accretive for Coeur stockholders across all key metrics, including approximately 40% free cash flow per share accretion. Over 80% of the combined company's 2026 revenue will be generated from U.S. and Canadian operations.
Nov 3, 2025, 1:00 PM
Coeur Mining to Acquire New Gold
CDE
M&A
Takeover Bid
New Projects/Investments
- Coeur Mining Inc. has agreed to acquire Canadian miner New Gold Inc. in an all-stock deal valued at approximately $7 billion.
- New Gold shareholders will receive 0.4959 shares of Coeur for each share they own, implying a consideration of $8.51 per New Gold common share.
- The combined company is expected to produce approximately 20 million ounces of silver, 900,000 ounces of gold, and 100 million pounds of copper in 2026 from seven North American operations.
- Coeur stockholders will hold about 62% of the combined entity, with New Gold shareholders owning roughly 38%.
Nov 3, 2025, 11:34 AM
Coeur Mining to Acquire New Gold
CDE
M&A
Takeover Bid
- Coeur Mining, Inc. (NYSE: CDE) has entered into a definitive agreement to acquire New Gold Inc. (TSX: NGD; NYSE American: NGD), with New Gold shareholders receiving 0.4959 shares of Coeur common stock for each New Gold common share. This represents a 16% premium to New Gold's closing price on October 31, 2025, and implies a total equity value of approximately $7 billion for New Gold.
- The combined company is projected to have an equity market capitalization of approximately $20 billion and is expected to generate approximately $3 billion of EBITDA and $2 billion of free cash flow in 2026.
- The acquisition will create a new, all North American senior precious metals producer with seven operations, expected to produce approximately 20 million ounces of silver, 900,000 ounces of gold, and 100 million pounds of copper in 2026.
- Upon completion, existing Coeur stockholders will own approximately 62% and New Gold shareholders will own approximately 38% of the outstanding common stock of the combined company.
- The transaction is expected to close in H1 2026, subject to regulatory and shareholder approvals.
Nov 3, 2025, 11:30 AM
Coeur Mining Reports Record Q3 2025 Financials and Raises Full-Year Guidance
CDE
Earnings
Guidance Update
Share Buyback
- Coeur Mining achieved record quarterly net income ($266.8 million), free cash flow ($188.7 million), and adjusted EBITDA ($299.1 million) in Q3 2025.
- The company's cash balance more than doubled to $266.3 million by September 30, 2025, and the net leverage ratio fell to 0.1x. Approximately 10% of the $75 million share repurchase program has been completed.
- Coeur Mining increased its full-year EBITDA and Free Cash Flow targets for 2025 and refined guidance ranges.
- The Las Chispas operation outperformed and its integration is complete, while the Rochester expansion is also finished, contributing to a more balanced gold and silver portfolio.
Oct 30, 2025, 3:00 PM
Coeur Mining Reports Record Q3 2025 Results, Raises Full-Year Guidance, and Significantly Reduces Debt
CDE
Earnings
Guidance Update
Share Buyback
- Coeur Mining reported its second consecutive quarter of record results in Q3 2025, driven by higher realized prices, strong production levels, and solid cost management.
- The company expects its cash balance to exceed $500 million at year-end, placing it in a net cash position heading into 2026, and anticipates full-year EBITDA to exceed $1 billion and free cash flow to top $550 million, both higher than prior estimates.
- Coeur Mining repaid over $228 million in debt during 2025, reducing net debt below $100 million and achieving a net debt ratio of 0.1 times. The company also recorded a one-time $162 million non-cash tax benefit from $630 million of U.S. net operating losses.
- Las Chispas increased its free cash flow by 34% to $66 million in Q3, with silver production reaching 1.6 million ounces and gold production 17,000 oz. The company has also completed nearly 10% of its initial $75 million share repurchase program.
Oct 30, 2025, 3:00 PM
Coeur Mining Reports Record Q3 2025 Results and Raises Full-Year Guidance
CDE
Earnings
Guidance Update
Debt Issuance
- Coeur Mining reported record Q3 2025 results, with metal sales climbing 15% to $555 million, driven by higher realized prices, strong production levels, and solid cost management.
- The company raised its full-year 2025 EBITDA guidance to exceed $1 billion and free cash flow to top $550 million, both higher than prior estimates.
- Coeur's financial position significantly improved, with the cash balance growing to $266 million and net debt falling below $100 million after repaying over $228 million in debt during 2025. The company expects its cash balance to exceed $500 million at year-end, placing it in a net cash position heading into 2026.
- The Las Chispas operation had another consistent quarter, with silver production increasing to 1.6 million ounces and gold production to 17,000 ounces, generating $66 million of free cash flow.
- The company fine-tuned its full-year 2025 production and cost guidance ranges, resulting in a small increase to the midpoint of gold production guidance and a slight decrease to silver production guidance.
Oct 30, 2025, 3:00 PM
Quarterly earnings call transcripts for Coeur Mining.
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