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Coeur Mining posts record-quarter revenue above $1 billion
The company said its inaugural $0.02 dividend began after first full contributions from the New Afton and Rainy River mines, while a $140 million noncash accounting charge weighed on reported earnings.
Coeur Mining reported its largest quarter in company history, with quarterly revenue crossing $1 billion for the first time, driven by the first full quarter of contributions from its newly acquired New Afton and Rainy River mines.
In results released August 6, revenue was $1.1 billion, up 27% from the prior quarter. EBITDA reached a record $478 million, and free cash flow rose to $388 million, up 45% quarter over quarter.
The Canadian assets contributed 45% of free cash flow, about $175 million, and Coeur said cash on hand doubled from year end 2025 to $1.1 billion by June 30, bringing total liquidity above $2 billion. Management expanded its buyback authorization to $750 million and repurchased $110 million of stock through June 30, while also paying an inaugural $0.02 dividend, its first payout in three decades.
Coeur also pointed to headwinds that affected the quarter, including lower realized gold and silver prices and higher diesel costs, plus below-plan grades at Kensington, Rochester, and Palmarejo. It added that a noncash accounting charge related to the fair value uplift of acquired Rainy River inventory shaved $140 million, about $0.10 per share, from second-quarter EPS and EBITDA, and management maintained full-year guidance of roughly $2.3 billion of EBITDA and $1.5 billion of free cash flow.
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