Coeur Mining's Remarkable Financial Turnaround

Coeur Mining reports a tenfold surge in net profit to $586M for 2025, driven by record gold & silver production and $666M in free cash flow. The company is nearing a major acquisition to further expand.

A dramatic financial transformation has been completed at Coeur Mining, the precious metals producer. The company, which was burning cash just two years ago, has reported a tenfold surge in net profit for 2025, reaching $586 million. CEO Mitchell Krebs presented these figures at the BMO Global Metals & Mining Conference in Florida this week, showcasing a radical operational overhaul that is rapidly establishing Coeur as a new heavyweight in the North American mining sector.

Operational Excellence Drives Record Cash Generation

The foundation of this turnaround is a significant improvement in mine performance. Gold output increased by 23%, while silver production jumped 57% to record levels. The newly integrated Las Chispas mine proved to be a major success, contributing $285 million to cash flow in just ten months of operation.

Existing assets are also performing strongly. The Rochester mine in Nevada reported record rock processing rates, and successful exploration programs have substantially extended the mine life at both the Wharf and Palmarejo operations. The market has rewarded this progress, with the share price currently trading at €22.46, just shy of its recent 52-week high of €22.51.

From Cash Burn to Balance Sheet Strength

The most critical metric for the market's reassessment of Coeur is its cash flow. A negative free cash flow of nearly $300 million two years ago has been completely reversed. The company generated $666 million in free cash flow last year, which management immediately deployed to strengthen the balance sheet. Debt levels were reduced significantly, and cash reserves swelled to over half a billion dollars.

Strategic Acquisition Nears Completion

The next phase of growth is already underway. The planned acquisition of New Gold Inc. is in its final stages and is expected to be finalized in the first quarter of 2026. Shareholders and regulatory courts have already granted their approval.

The combined entity will control seven mines across North America and is targeting ambitious goals: a combined EBITDA of $3 billion, with annual production of approximately 900,000 ounces of gold and 20 million ounces of silver. For the current 2026 fiscal year, Coeur forecasts a return on invested capital (ROIC) in the mid-40% range and plans to boost exploration investment by almost 50%.