NEW YORK, March 23, 2026, 4:10 PM EDT
Coeur Mining stock climbed roughly 1.9% to $18.01 as of 3:55 p.m. EDT on Monday. The precious-metals miner released its inaugural 2026 forecast following the completion of its New Gold deal, rolling out that guidance alongside a substantially bigger share repurchase and its maiden dividend. Coeur Mining
Why is that important? Coeur wrapped up the acquisition on March 20, so until now, markets had little to go on—there were no consolidated production figures or capital-return targets for the newly expanded company. On Monday, the miner scrapped its previous 2026 guidance, instead laying out, for the first time, what the seven-mine North American group aims to deliver. Coeur Mining
Coeur expects to produce 680,000 to 815,000 ounces of gold, 18.7 million to 21.9 million ounces of silver, and between 50 million and 65 million pounds of copper in 2026, factoring in nine months of output from its recently acquired New Afton and Rainy River mines. For 2025, the company projects 419,046 ounces of gold and 17.9 million ounces of silver. Coeur Mining
Mitchell Krebs, the chief executive, described the closing as “an important milestone” for Coeur as it pivots toward becoming a senior precious-metals producer. The New Gold acquisition boosts projected gold output by 80%, Krebs said, adding that this step helps Coeur “accelerate and enlarge” returns for shareholders, all while continuing to fund its growth projects. Coeur Mining
The board signed off on a $750 million buyback program and rolled out its first-ever semiannual dividend of $0.02 per share, with payouts targeted for June and December. Directors also approved a new $1 billion revolving credit line, replacing the previous $400 million facility. Coeur kicked off an exchange offer for $400 million in New Gold’s 6.875% notes due 2032, aiming to swap those bonds for a mix of new Coeur notes and cash. Coeur Mining
It was a messy session. Spot gold slipped 1.8% to $4,407 an ounce on Monday. Spot silver, on the other hand, gained 2.5%. Late in the day, Hecla Mining, Pan American Silver, and Wheaton Precious Metals tacked on roughly 3.2%, 4.6%, and 3.9% respectively. Reuters
High Ridge Futures metals trading director David Meger pointed to higher interest rate bets for triggering the overnight gold drop, which then reversed after President Donald Trump posted on social media. John Reade, senior market strategist at the World Gold Council, flagged the risk of additional profit-taking and liquidation. He noted miners are still vulnerable to sharp moves in metal prices. Reuters
Still, it’s not all clear skies. Coeur’s 2026 outlook is pegged to gold at $4,550 an ounce, silver at $77.50, and copper at $5 per pound. Rainy River’s cost to produce an ounce of gold? Somewhere between $2,150 and $2,350—higher than what Coeur projects for its other gold assets. Should metals prices soften or the Canadian integration run into trouble, that cash-return thesis could get squeezed. Business Wire
New Gold’s takeover came entirely in shares. Holders picked up 0.4959 Coeur shares for every New Gold share on the books. Coeur pushed about 392.7 million fresh shares into the market, pushing total shares outstanding to nearly 1.03 billion after close. Coeur Mining
