Coeur Mining (CDE) Mining Forum Americas 2026 summary

Strategic transformation and growth

• Completed two major acquisitions: SilverCrest (~$2B, Feb 2025) and New Gold (~$7B, Mar 2026), expanding the asset base and production scale.

• Over $1B invested in organic exploration and expansion in the past five years, resulting in significant resource growth and mine life extensions.

• Enhanced North American platform with seven operations, balanced across gold, silver, and copper, and a $20B market cap as of September 2026.

• Record 2026 production expected: ~630K oz gold, ~19M oz silver, ~40M lbs copper, driving a 125% YoY increase in EBITDA and free cash flow to ~$2.3B and ~$1.5B, respectively.

• Strong balance sheet with over $1B in cash, expanded $750M stock buyback, and a new semi-annual dividend.

Operational and financial performance

• First half 2026 saw record production and revenue, with 260K oz gold, 8.8M oz silver, 13M lbs copper, and $1.9B in revenue.

• Second half and full-year 2026 performance expected to be heavily weighted to Q4, with peak capex and exploration in Q3.

• Year-end cash and liquidity projected to approach ~$2B and $3B, respectively.

• Outperformance on key financial metrics, including peer-leading ROIC and a 125% increase in free cash flow from 2025 to 2026.

• Enhanced capital return policy with $221M in stock repurchased since May 2026 and a $0.02 per share dividend.

Exploration, organic growth, and operational updates

• 2026 exploration investment guidance of $147M–$169M, a 47% increase over 2025, with over 95% of the 2,600 km² land position still unexplored.

• Key organic growth levers include New Afton’s K-Zone, Rainy River open pit extension, East Palmarejo, and Silvertip resource expansion.

• New Afton and Rainy River exploration programs expanded mineralization and resource potential, with significant drilling and underground development.

• Operational excellence initiatives delivered $265M in cumulative business improvement value from 2023 to 2026E.

• Asset-specific updates: ramp-ups at New Afton and Rainy River, consistent performance at Las Chispas, strong Q4 expected at Rochester, and ongoing resource growth at Silvertip.