McEwen Mining reports strong Gold Bar drilling, acquisition

McEwen Mining ( (MUX) ) has provided an update.

On January 27, 2026, McEwen Inc. reported strong drilling results from its Gold Bar Mine Complex in Nevada, highlighted by its best hole to date at the Windfall deposit, which intersected 5.55 grams per tonne of gold over 44.2 metres of oxide mineralization and supported by multiple additional long-width, near-surface intercepts that demonstrate excellent continuity along a 1.6-kilometre fault zone. The company said these results, along with an upcoming updated Mineral Resource Estimate for Lookout Mountain due at the end of February and planned 2026 exploration spending of about $10 million, are expected to significantly increase gold ounces at Gold Bar and underpin ongoing work to advance the Windfall, Lookout Mountain and Unity Ridge deposits toward a production decision using existing infrastructure, reinforcing Gold Bar’s role in McEwen’s strategy to transform the complex into a long-life asset and expand its overall production base. On January 28, 2026, McEwen also announced a definitive agreement to acquire all outstanding shares of Golden Lake Exploration Inc., a move that underscores its continued consolidation and growth strategy in the region.

The most recent analyst rating on (MUX) stock is a Hold with a $28.00 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.

The score is held back primarily by weak financial fundamentals (losses and negative free cash flow) and a negative P/E that reflects continued unprofitability. Technicals are supportive with strong price strength above key moving averages, but momentum indicators look overbought. The earnings call adds moderate support due to upbeat project guidance, tempered by production and permitting risks.

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

More about McEwen Mining

McEwen Inc. (NYSE/TSX: MUX) is a precious and base metals company providing exposure to a growing base of gold and silver production and a large copper development project across the Americas. Its gold and silver operations are located in Nevada’s Cortez Trend in the United States, Ontario and Manitoba in Canada, Argentina’s Deseado Massif, and it is reactivating the El Gallo Mine in Mexico. The company also holds a 46.4% interest in McEwen Copper, owner of the advanced-stage Los Azules copper project in Argentina, and a 27.3% stake in Paragon Advanced Labs, which deploys PhotonAssay™ technology for assaying precious and base metals.

Average Trading Volume: 1,337,998

Technical Sentiment Signal: Buy

Current Market Cap: $1.44B

See more data about MUX stock on TipRanks’ Stock Analysis page.