Coeur Mining to Acquire Canada’s New Gold for $7 Billion (3)

Coeur Mining Inc. agreed to acquire New Gold Inc.for about $7 billion in an all-stock deal that consolidates two midsize North American gold producers as surging bullion prices have reignited investor interest in the sector.

The deal marks the largest takeover between gold producers in 2025 and follows this year’s record-breaking rally for the metal, with prices soaring above $4,000 an ounce. Shares of precious metals producers have also surged, with Couer’s and New Gold’s stock more than doubling this year.

Coeur’s acquisition will create a firm with a larger balance sheet and higher cash flow, giving it ...