Coeur Mining buys New Gold in $7B all-stock merge

Coeur Mining (NYSE: CDE) is acquiring Canada’s New Gold (TSX: NGD) in an all-stock deal valued at about $7 billion, creating a new North American mining heavyweight amid record gold prices and renewed investor enthusiasm for precious metals

Chicago-based Coeur, which operates mines in the US and Mexico, will combine with New Gold’s two Canadian gold-producing sites to form a company valued at roughly $20 billion. The merged miner will produce an estimated 900,000 ounces of gold and 20 million ounces of silver next year.

The merger comes amid a record-setting rally in gold, which climbed above $4,000 an ounce this year and which the sector expects to surpass the $5,000 mark in the next 12 months. Shares of both Coeur and New Gold have tripled in 2025.