McEwen Closes Canadian Gold Deal, Targets Tartan Mine Restart and Growth in Gold Portfolio

McEwen Mining ( (MUX) ) has shared an announcement.

McEwen Inc. and Canadian Gold Corp. have closed their previously announced business combination via a statutory plan of arrangement, with Canadian Gold shareholders receiving 0.0225 McEwen common shares for each Canadian Gold share held. The deal will see Canadian Gold delisted from the TSX Venture Exchange, cease to be a reporting issuer, and its Tartan project integrated into McEwen’s portfolio, where management plans to accelerate exploration, advance mine engineering and permitting, and publish an updated resource estimate, underscoring McEwen’s growth ambitions in gold. To comply with New York Stock Exchange requirements, all Canadian Gold shares held by Chairman and Chief Owner Rob McEwen will be exchanged for subscription receipts rather than McEwen shares, to convert into equity only after shareholder approval, a change that affects only his holdings and not the consideration received by other Canadian Gold shareholders, who must follow standard procedures to exchange their certificates for McEwen shares.

The most recent analyst rating on (MUX) stock is a Hold with a $20.50 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.

Spark’s Take on MUX Stock

According to Spark, TipRanks’ AI Analyst, MUX is a Neutral.

MUX scores mid-range primarily due to weak financial performance (negative margins and deeply negative free cash flow) which outweighs strengths elsewhere. Technicals are supportive with price above major moving averages and positive momentum, while valuation is constrained by losses (negative P/E). The latest earnings call and corporate updates are constructive—driven by Los Azules progress and permitting wins—but operational and permitting execution risks keep the overall score moderate.

To see Spark’s full report on MUX stock, click here.

More about McEwen Mining

McEwen Inc., which trades on the NYSE and TSX under the ticker MUX, provides investors with exposure to a growing base of gold and silver production alongside a large copper development project, all located in the Americas and focused on prolific, mineral-rich regions such as the Cortez Trend.

Average Trading Volume: 1,444,074

Technical Sentiment Signal: Buy

Current Market Cap: $1.07B

Find detailed analytics on MUX stock on TipRanks’ Stock Analysis page.