A U.S.-based precious metals producer, Coeur Mining digs gold and silver out of five mines — Las Chispas, Palmarejo, Rochester, Kensington, and Wharf — turning them into doré and bullion sold to banks and traders. It began in 1928 as Coeur d'Alene Mines, named after the famed silver district in northern Idaho where it was born. It has also agreed to acquire New Gold, which would add two more Canadian mines.
Coeur Mining Q2 revenue more than doubled to $1.09B as the New Gold acquisition added two Canadian mines, but operating income fell 38% sequentially on acquisition-related charges.
more than doubled, but fell sharply from the prior quarter. Revenue rose 125.9% to $1,085.6 million, driven by the New Gold acquisition and higher metal prices, while operating income of $216.5 million was down 38.0% sequentially as costs included charges from the deal. The company is now a much larger producer, but integration costs are weighing on margins.
Key takeaways
rose 125.9% to $1,085.6 million, driven by the first full quarter of production from the New Afton and Rainy River mines acquired in the New Gold transaction and higher average realized gold and silver prices.
was $216.5 million, up 54.5% from $140.1 million a year ago but down 38.0% from $349.2 million in Q1 2026, as costs applicable to sales included non-cash charges from the New Gold acquisition.
Section summaries
Legal Proceedings
Coeur Mining discloses no material pending legal proceedings in its Q2 2026 filing.
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The company states it is party to ongoing litigation and to recover $30.2 million in principal from the Mexican government for value-added tax payments deemed unduly paid.
A alleging wage and hour violations was settled, with court approval received in January 2026 and payments of approximately $6.3 million made in the first quarter of 2026.
narrowed to 19.9% from 40.8% in the prior quarter and 29.1% in the year-ago quarter, reflecting the impact of acquisition-related cost step-ups.
reached $387.5 million, up 165.2% and 45.3% sequentially, as rose to $513.2 million.
Cash and equivalents rose to $1,052.3 million, up 842.5% and 24.4% sequentially, while total assets stood at $15.2 billion following the New Gold acquisition.
The company disclosed no material new legal proceedings and noted that a wage-and-hour class action was settled with court approval in January 2026 and $6.3 million in payments made in Q1 2026.
What changed
The New Gold acquisition, flagged in the FY 2025 10-K as expected to close in H1 2026, closed during Q1 2026, and Q2 2026 is the first full quarter with New Afton and Rainy River contributing; more than doubled to $1,085.6 million.
The Palmarejo operating permit renewal, flagged as unresolved in every filing since Q3 2024, is not mentioned as resolved in this filing, suggesting it remains an open risk for a mine that has been a significant contributor to .
The $85 million in non-cash charges from the New Gold acquisition, first disclosed in Q1 2026, continued to affect costs in Q2 2026, contributing to the sequential decline from 40.8% to 19.9%.
The USMCA arbitration to recover Mexican VAT payments, flagged in prior filings, is disclosed at $30.2 million in principal, up from $28.7 million in Q3 2025, with no resolution reported.
What to watch
Whether the non-cash charges from the New Gold acquisition subside in Q3 2026, allowing to recover from the 19.9% reported this quarter.
The Palmarejo operating permit renewal, which remains unresolved and could disrupt production at a mine that has historically been a significant contributor to .
The pace and scale of share repurchases under the expanded $750 million program and the new semiannual , as signals of capital allocation priorities following two major acquisitions.
The outcome of the USMCA arbitration to recover $30.2 million in Mexican VAT payments, which would provide a one-time cash inflow if resolved in Coeur's favor.
The company has $526.0 million in outstanding as of June 30, 2026, primarily to support future reclamation and closure costs.
No other material legal proceedings are reported, and the company believes it is in compliance with all applicable bonding obligations.
Item 1A – Risk factors of the 2025 10-K sets forth information relating to important risks and uncertainties that could materially adversely affect the Company’s business, financial conditions or operating results. Those risk factors have been supplemented and updated in the Com…
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Item 1A – Risk factors of the 2025 10-K sets forth information relating to important risks and uncertainties that could materially adversely affect the Company’s business, financial conditions or operating results. Those risk factors have been supplemented and updated in the Company’s Form 10-Q for the quarter ended March 31, 2026 (the “Q1 2026 10-Q”). Except as supplemented and updated in the Q1 2026 10-Q, the risk factors set forth in the most recent Form 10-K remain current. Additional risks and uncertainties that the Company does not presently know or that it currently deems immaterial also may impair our business operations.
Item 4. Mine Safety Disclosures
Information pertaining to mine safety matters is reported in accordance with Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act in Exhibit 95.1 attached to this Form 10-Q.