Coeur Mining Reports $666M Free Cash Flow, 112,000 Ounces Gold Output in Q4
Q4 free cash flow hit $313 million, propelling full-year free cash flow to $666 million and driving record EBITDA above $1 billion on 112,000 ounces gold output. Management mobilized temporary crushers after a fire at Wharf’s tertiary crusher and expects to close the New Gold acquisition by end of Q1 2026.
1. Q4 Operational Performance
Consolidated Q4 production reached 112,000 ounces of gold and 4.8 million ounces of silver. A fire in Wharf’s tertiary crusher caused upper-level damage to belts and ancillary equipment, prompting mobilization of temporary mobile crushers while repairs complete in Q2.
2. Financial Results
Q4 free cash flow was $313 million, contributing to full-year free cash flow of $666 million and record EBITDA over $1 billion. Year-end cash balance rose to $554 million and net income reached $586 million.
3. Exploration-Driven Reserve Growth
Exploration replaced depletion and grew inferred resources by 40% companywide, with Wharf up 216%, Palmarejo 86%, and Rochester 30%. Coeur plans to invest $120 million to $136 million in exploration during 2026.
4. 2026 Outlook and New Gold Transaction
Standalone 2026 guidance targets a 10% increase in silver production, reflecting full-year Las Chispas output. The New Gold acquisition is on track to close by end of Q1 2026, after which combined guidance and capital return plans will be updated.