Gold and Silver Rally Causes Mining Stocks to Plummet... 1 Trillion Won Vanishes in a Day

Coeur Mining Inc. (NYSE: CDE) plunged 6.55% on the New York Stock Exchange today, closing at $16.33. Its market capitalization shrank to about $17 billion, erasing roughly $1 billion in value in a single day, while trading volume swelled to over 27 million shares.

In its Q1 2026 results—released after completing the acquisition of Canada’s New Gold on March 20—the company said revenues more than doubled thanks to the deal and a rally in gold and silver prices. However, dilution and higher costs weighed on earnings per share, which fell short of analysts’ expectations. To balance shareholder returns with financial resilience, Coeur Mining this month announced its first dividend of $0.02 per share, a target annual payout of $0.04 per share, a $750 million share buyback program, and a $1 billion credit facility.

Headquartered in Chicago, Coeur Mining is a mid-tier precious-metals producer focused on gold and silver, operating multiple gold, silver and copper mines across the U.S. and Canada. Last year, it unveiled an all-stock, roughly $7 billion acquisition of Canadian peer New Gold, positioning itself as a leading North American gold and silver producer. Going forward, the trajectory of gold and silver prices and the successful integration of the combined mines are seen as the primary drivers of its share price.