New York, March 24, 2026, 08:37 EDT
Coeur Mining was trading close to $18 early Tuesday, sticking near Monday’s finish after wrapping up its New Gold deal. The company raised its 2026 production targets, announced a $750 million buyback, and rolled out its first-ever cash dividend policy. Shares ended Monday at $17.89, up 1.2% from Friday’s $17.67, and hovered around $17.9 in early indications Tuesday.
It’s a pivotal update for investors: the first real look at what New Gold brings to the table—greater gold output, a fresh copper stream, and a bigger foundation for shareholder payouts. According to Coeur, both New Afton and Rainy River bump 2026 projections up to 680,000-815,000 ounces of gold, 18.7 million-21.9 million ounces of silver, and 50 million-65 million pounds of copper. Those numbers include nine months’ contribution from this year.
That’s a notable jump from February, when Coeur’s stand-alone outlook called for 390,000-460,000 ounces of gold and 18.2-21.3 million ounces of silver out of its current operations. The company handed out close to 392.7 million shares to seal the all-stock transaction, pushing Coeur’s total to around 1.03 billion shares. Now, investors are left to figure out if the increased heft is enough to counteract the dilution.
On Monday, Chief Executive Mitchell Krebs described the March 20 closing as a “watershed event.” In a different statement, Krebs pointed to the combined platform’s free cash flow—cash that’s left over after capital spending—as the key to “accelerate and enlarge” shareholder returns, even as the company continues to fund projects like K-Zone at New Afton and the Silvertip silver project. Seeking Alpha
The board signed off on a $750 million buyback plan and rolled out its first-ever semiannual dividend: $0.02 per share, set to pay out in the second quarter.
Coeur kicked off an exchange offer for $400 million of New Gold’s 6.875% senior notes maturing in 2032, according to a filing. The move is one of several financing steps outlined as Coeur moves to absorb the acquired miner’s assets into its own balance sheet.
Broker notes are flowing in. Cantor Fitzgerald’s Mike Kozak bumped Coeur up to Buy from Hold Monday, according to StreetInsider. TipRanks, referencing TheFly, flagged that the firm trimmed its price target to $20 from $24, accounting for the updated 2026 outlook, longer mine lives, and Coeur’s latest dividend and buyback moves. Still, analysts say the recent dip in shares has actually made the risk-reward more attractive.
Coeur isn’t the only miner looking to bulk up. Just last month, Newmont announced a $1.4 billion investment to develop former Newcrest properties, and Barrick’s North American spin-off plan has quickly become one of the year’s most closely tracked shake-ups. Coeur’s move for New Gold lines up with this drive: longer mine lives, more output from North America, and a wider spread of metals.
Coeur kicked off the week following robust 2025 numbers. Back in February, the company reported record revenue of $2.1 billion and net income hitting $586 million, driven by all-time high production and better metals pricing. Coeur also said it plans to revise guidance after New Gold wraps up its deal.
Still, uncertainty hangs over the outlook. Coeur’s forecast for 2026 is pinned on gold at $4,550 per ounce, silver at $77.50, and copper at $5 a pound. The company pointed to a laundry list of risks: delays in integration or permits, fluctuating grades, labor unrest, and weaker metals demand. Spot gold traded near $4,411 on Tuesday after tumbling, as traders reacted to war headlines out of Iran and debated whether higher oil prices would stoke inflation enough to shift interest rates. “Wait-and-see,” is how UBS analyst Giovanni Staunovo put it. Business Wire
