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An announcement from McEwen Mining ( (MUX) ) is now available.
On December 16, 2025, McEwen announced that the Mexican government had granted an extension of the Environmental Impact Assessment for its El Gallo Mine, a key permit that enables the company to advance Phase 1 mill construction, targeted to start in mid-2026, with a first gold pour anticipated in mid-2027. Phase 1 is expected to produce about 20,000 gold-equivalent ounces annually by reprocessing material from the historical leach pad, with remaining capital costs estimated at $25 million and limited additional development or exploration spending, while early work on Phase 2 aims to exploit in-situ silver deposits that could significantly extend El Gallo’s operating life beyond the initial 10-year plan and unlock value from substantial historical silver resources once updated in 2026.
The most recent analyst rating on (MUX) stock is a Buy with a $21.00 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.
McEwen Mining’s overall stock score reflects significant financial challenges, with negative profitability and cash flow issues being the most impactful factors. However, the company shows potential through strategic advancements in projects like Los Azules and recent corporate acquisitions, which contribute positively to the outlook.
To see Spark’s full report on MUX stock, click here.
More about McEwen Mining
McEwen Inc. (NYSE/TSX: MUX) is a North and South America-focused precious and base metals company providing investors exposure to a growing base of gold and silver production and a large copper development project. Its gold and silver operations are located in Nevada, Ontario and Argentina, it is reactivating the El Gallo gold and silver mine in Mexico, and it holds a 46.4% interest in McEwen Copper, owner of the advanced-stage Los Azules copper project in Argentina; the company has also invested in assay-technology provider Paragon Advanced Labs.
Average Trading Volume: 1,565,412
Technical Sentiment Signal: Buy
Current Market Cap: $1.05B
For detailed information about MUX stock, go to TipRanks’ Stock Analysis page.