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McEwen Mining
(NYSE:MUX)
McEwen Mining (MUX) vs. SPDR S&P 500 ETF (SPY)
McEwen Mining Business Overview & Revenue Model
McEwen Mining Earnings Call Summary
McEwen Mining Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 121.47M | 174.48M | 166.23M | 110.42M | 136.54M | 104.79M |
| Gross Profit | 36.52M | 30.93M | 17.78M | -544.00K | -6.48M | -26.95M |
| EBITDA | 24.07M | 18.25M | -73.94M | -78.68M | -32.66M | -123.19M |
| Net Income | -14.65M | -43.69M | 55.30M | -81.08M | -56.71M | -152.32M |
Balance Sheet | ||||||
| Total Assets | 735.62M | 664.62M | 657.24M | 528.72M | 525.34M | 499.94M |
| Cash, Cash Equivalents and Short-Term Investments | 69.52M | 14.90M | 24.76M | 40.91M | 56.09M | 20.84M |
| Total Debt | 727.00K | 42.11M | 41.47M | 66.39M | 53.28M | 53.66M |
| Total Liabilities | 251.14M | 169.65M | 154.82M | 172.44M | 135.40M | 134.61M |
| Stockholders Equity | 484.48M | 494.98M | 502.42M | 322.81M | 375.16M | 365.33M |
Cash Flow | ||||||
| Free Cash Flow | -35.56M | -13.64M | -65.74M | -80.77M | -55.11M | -41.25M |
| Operating Cash Flow | 20.51M | 29.45M | -39.64M | -56.58M | -20.22M | -27.87M |
| Investing Cash Flow | -75.74M | -58.05M | -99.64M | -23.90M | -24.56M | -11.77M |
| Financing Cash Flow | 69.41M | 19.20M | 172.18M | 65.45M | 80.98M | 17.58M |
McEwen Mining Technical Analysis
McEwen Mining Risk Analysis
McEwen Mining Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $5.78B | 11.50 | 15.22% | 1.28% | 32.68% | 433.03% | |
| ― | $8.62B | 82.24 | 4.67% | 0.19% | 36.30% | ― | |
| ― | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
| ― | $991.77M | ― | -2.79% | ― | -9.48% | -114.76% | |
| ― | $769.47M | ― | -9.63% | 1.74% | 8.66% | 66.06% | |
| ― | $2.58B | ― | -7.64% | ― | ― | -52.29% | |
| ― | $674.01M | ― | -18.95% | ― | -15.66% | -237.12% |
McEwen Mining Corporate Events
On October 10, 2025, McEwen Inc. entered into an agreement to acquire all shares of Canadian Gold Corp. through a statutory plan of arrangement. This transaction, which is expected to close in early January 2026, will make Canadian Gold a wholly-owned subsidiary of McEwen. The deal offers significant benefits to both companies’ shareholders, including exposure to McEwen’s diversified portfolio and the addition of the Tartan Lake Gold Mine Project to McEwen’s assets. The transaction requires shareholder and regulatory approvals and includes provisions for deal protection and non-solicitation.
The most recent analyst rating on (MUX) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.
On October 7, 2025, McEwen Inc. announced the results of an independent feasibility study for the Los Azules copper project in Argentina, confirming it as a long-life, low-cost producer of high-purity copper cathodes with strong economic returns and sustainability. The study positions Los Azules as a key player in the global energy transition, with plans for construction readiness and reduced environmental impact. The project benefits from strategic collaborations for financing and has received regulatory approvals, enhancing its potential to become a model for responsible mining.
The most recent analyst rating on (MUX) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.
On September 26, 2025, McEwen Copper Inc.’s Los Azules project was approved to join Argentina’s Large Investment Incentive Regime (RIGI), marking a significant milestone for the project. This inclusion supports a $2.7 billion investment in developing the copper mine, which is expected to produce high-purity copper cathodes and generate substantial export revenues for Argentina. The project is designed to operate sustainably, utilizing renewable energy and minimizing environmental impacts. The RIGI provides legal and fiscal stability, enhancing operational predictability and encouraging international investment, which is crucial for the project’s development and economic contributions to the region.
The most recent analyst rating on (MUX) stock is a Hold with a $15.00 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.
On September 24, 2025, McEwen Inc. announced a collaboration between the International Finance Corporation (IFC) and McEwen Copper to align the Los Azules copper project with IFC’s ESG standards for future financing. This agreement marks a significant step in McEwen Copper’s financing strategy, aiming to de-risk the project and enhance its appeal to international investors. The Los Azules project, located in Argentina’s San Juan province, is one of the largest undeveloped copper deposits globally and has already secured Environmental Impact Declaration approval. The collaboration is expected to support Argentina’s mining sector by promoting sustainability, transparency, and community benefits.
The most recent analyst rating on (MUX) stock is a Hold with a $15.00 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.
On September 3, 2025, McEwen Inc. appointed Ian Ball as Vice-Chairman, responsible for overseeing revenue-generating activities and shareholder engagement. This strategic move is expected to enhance the company’s operational focus and stakeholder relations. Mr. Ball’s compensation includes a salary of CAD$435,000, participation in benefit plans, and an option to purchase 50,000 shares. His appointment led to changes in the Audit Committee, with Nicolas Darveau-Garneau replacing him.
The most recent analyst rating on (MUX) stock is a Hold with a $15.00 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.
On September 2, 2025, McEwen Inc. announced promising gold intercepts from its Grey Fox Project, indicating potential resource growth ahead of an updated estimate expected in October 2025. The following day, the company revealed the discovery of a new high-grade gold zone at its Windfall Project in Nevada. These developments underscore McEwen’s strategic focus on expanding its gold resources, with the Grey Fox Project showing significant potential due to geological similarities with other large regional deposits. The company aims to increase gold production and reduce costs by 2026, positioning itself to benefit from favorable gold market conditions.
The most recent analyst rating on (MUX) stock is a Hold with a $14.50 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.
On August 11, 2025, McEwen Inc. issued stock options under its 2024 Equity and Incentive Plan to eligible participants. These stock options are subject to time-based vesting restrictions, with portions vesting annually over three years. The options are exercisable until the fifth anniversary of the grant date at a price of $10.43, with specific provisions for cessation of employment or termination for cause.
The most recent analyst rating on (MUX) stock is a Buy with a $12.75 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.
McEwen Mining Inc. recently held its earnings call, showcasing a positive outlook fueled by significant improvements in financial health, exploration successes, and safety achievements. Despite facing some production challenges, the company remains optimistic about achieving its targets and enhancing performance in the latter half of the year. Strategic plans and regulatory developments, particularly in Argentina, are expected to bolster the company’s growth trajectory.
McEwen Mining Inc. is a mining company that provides exposure to gold, copper, and silver through its operations in the USA, Canada, and Argentina, with a focus on sustainable practices and future growth.
On June 27, 2025, McEwen Inc. entered into a binding letter of intent to acquire all outstanding shares of Canadian Gold Corp. through a court-approved plan of arrangement. This acquisition, if completed, will make Canadian Gold a wholly-owned subsidiary of McEwen, enhancing McEwen’s asset base with Canadian Gold’s Tartan Mine and exploration properties. The transaction offers Canadian Gold shareholders a 26% premium on their shares and access to McEwen’s resources. For McEwen, the acquisition adds a high-grade former producing mine with potential for re-commencing production and substantial exploration opportunities, aligning with McEwen’s strategic goals.
The most recent analyst rating on (MUX) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.
McEwen Inc. announced the discovery of high-grade gold mineralization west of the Froome Mine, extending the mine’s life and production potential. This discovery, characterized by stacked mineralized lenses, suggests further exploration opportunities and potential expansion, enhancing the company’s operational capacity and market positioning.
The most recent analyst rating on (MUX) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.