Coeur Mining, Inc. reported significant financial growth in its latest quarterly results, driven by the acquisition of New Gold and strong operational performance across its mining portfolio. For the second quarter of 2026, the company achieved revenue of $1.1 billion, a 126% increase compared to $480.7 million in the same quarter of the previous year. Net income for the quarter was $121.9 million, or $0.12 per diluted share, compared to $70.7 million, or $0.11 per diluted share, in the prior year. For the first half of 2026, revenue reached $1.9 billion, up from $840.7 million in the first half of 2025, with net income of $368.6 million, compared to $104.1 million in the previous year.
The company’s operational metrics also reflected substantial improvements. Gold production reached a record 163,490 ounces in the second quarter, a 51% increase year-over-year, while silver production remained stable at 4.4 million ounces. The acquisition of New Gold, completed in March 2026, contributed significantly to these results, with both the New Afton and Rainy River mines enhancing overall production capabilities. The company reported a cash balance of $1.1 billion at the end of the quarter, nearly ten times higher than the previous year, and cash provided by operating activities totaled $513 million.
Coeur Mining's strategic developments included the completion of the New Gold acquisition, which added substantial gold and copper production to its portfolio. The company also initiated a $750 million share repurchase program and declared its first dividend of $0.02 per share, reflecting its commitment to returning value to shareholders. The company’s total debt stood at $705.3 million, with a net leverage ratio of -0.2 times adjusted EBITDA, indicating a strong liquidity position.
Operationally, the company reported increased costs applicable to sales, which rose to $549.7 million in the second quarter, primarily due to the full-quarter impact of the New Gold acquisition and higher production costs. The average realized price for gold was $4,140 per ounce, while silver averaged $71.18 per ounce, both reflecting a decrease from the previous quarter. The company anticipates continued strong performance for the remainder of the year, with updated guidance projecting gold production of approximately 690,000 ounces and silver production of 20 million ounces for 2026.
Looking ahead, Coeur Mining expects to maintain its growth trajectory, with plans for further exploration and development at its existing sites. The company has refined its full-year guidance to reflect lower assumed metal prices and adjusted production expectations for its new Canadian operations. Overall, Coeur Mining's strong financial performance and strategic initiatives position it well for future growth in the precious metals sector.
About Coeur Mining, Inc.
Coeur Mining, Inc. is a diversified precious metals producer with operations in the U.S., Canada, and Mexico. It focuses on gold and silver mining across multiple segments, including underground and open-pit mines. The company supplies raw materials for the jewelry, technology, and energy sectors, leveraging exploration, expansion, and acquisitions to sustain growth while emphasizing responsible environmental and social practices.
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