Coeur Mining Reports Historic Financial Performance for 2025

Coeur Mining announced on February 18, 2026, that it achieved the strongest financial results in its corporate history for both the fourth quarter and the full year 2025. The silver and gold producer’s remarkable performance was fueled by a combination of significantly higher precious metals prices and disciplined cost management.

Record-Setting Annual and Quarterly Figures

For the full year 2025, Coeur Mining nearly doubled its revenue to $2.1 billion. The company’s annual net profit surged more than tenfold to $586 million, while its adjusted EBITDA tripled, reaching $1.0 billion. This dramatic improvement was primarily attributed to substantially higher realized gold and silver prices, alongside operational enhancements across its mining assets.

Focusing on the final quarter, Coeur posted revenue of $675 million. It generated $375 million in operating cash flow and a GAAP net income of $215 million, or $0.33 per share. The quarter also saw record adjusted figures, with EBITDA hitting $425 million and adjusted net income totaling $227 million.

Operational Highlights and Cash Flow Generation

The Rochester mine in Nevada emerged as a standout performer in the fourth quarter. Processed ore increased by 12% to 6.4 million tons, while placed material jumped 23% to 9.3 million tons, setting new quarterly records for the operation.

This operational strength translated directly into robust cash generation. Rochester’s free cash flow climbed to $78 million in Q4, a substantial increase from $30 million in the prior quarter and just $12 million in the same period a year earlier. Furthermore, the Las Chispas mine, acquired through the SilverCrest transaction in mid-February 2025, contributed $286 million in free cash flow since the deal’s completion.

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Strategic Acquisition Nears Completion

In a major strategic move, shareholders of both Coeur Mining and New Gold Inc. voted overwhelmingly in favor of Coeur’s planned acquisition of New Gold on January 27, 2026. The transaction is anticipated to close in the first half of 2026.

Upon finalization, the combined entity is projected to operate seven mines across North America. It is expected to generate approximately $3 billion in EBITDA and $2 billion in free cash flow. This consolidation will also cement Coeur’s status as one of the world’s five largest primary silver producers.

Production Guidance and Forward Look

Looking ahead to 2026, Coeur Mining has issued production guidance based on its current portfolio. The company forecasts gold output between 390,000 and 460,000 ounces, alongside silver production in the range of 18.2 to 21.3 million ounces. These projections assume metal prices of $4,550 per ounce for gold and $77.50 per ounce for silver.

Following the closure of the New Gold acquisition, Coeur intends to provide an updated forecast. This revised outlook will incorporate production from New Gold’s two Canadian assets, the New Afton and Rainy River mines.