Top Page
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 | 166.45M | 174.48M | 166.23M | 110.42M | 136.54M | 104.79M |
| Gross Profit | 22.82M | 30.93M | 17.78M | -544.00K | -6.48M | -26.95M |
| EBITDA | 20.11M | 18.25M | -73.94M | -78.68M | -32.66M | -123.19M |
| Net Income | -11.92M | -43.69M | 55.30M | -81.08M | -56.71M | -152.32M |
Balance Sheet | ||||||
| Total Assets | 747.64M | 664.62M | 659.55M | 528.72M | 534.68M | 508.76M |
| Cash, Cash Equivalents and Short-Term Investments | 71.90M | 14.90M | 24.76M | 40.91M | 58.64M | 20.84M |
| Total Debt | 127.72M | 42.11M | 42.25M | 66.39M | 55.99M | 53.66M |
| Total Liabilities | 259.08M | 169.65M | 157.13M | 172.44M | 144.74M | 143.43M |
| Stockholders Equity | 488.56M | 494.98M | 502.42M | 322.81M | 375.16M | 365.33M |
Cash Flow | ||||||
| Free Cash Flow | -45.21M | -13.64M | -65.74M | -80.77M | -55.11M | -41.25M |
| Operating Cash Flow | 2.55M | 29.45M | -39.64M | -56.58M | -20.22M | -27.87M |
| Investing Cash Flow | -52.68M | -58.05M | -99.64M | -23.90M | -24.56M | -11.77M |
| Financing Cash Flow | 73.37M | 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $10.84B | 25.59 | 12.35% | 1.45% | 27.42% | 20.63% | |
66 Neutral | $16.70B | 50.86 | 13.89% | 0.07% | 45.61% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | $1.81B | -111.43 | -1.64% | 1.14% | 7.92% | 91.83% | |
58 Neutral | $958.89M | -7.23 | -14.87% | ― | -12.07% | -821.68% | |
56 Neutral | $4.49B | -73.87 | -14.54% | ― | ― | -128.69% | |
55 Neutral | $1.68B | ― | -2.41% | ― | -16.62% | -110.79% |
McEwen Mining Corporate Events
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.
On January 13, 2026, McEwen Inc. reported final drill results for its newly acquired Tartan Mine Project near Flin Flon, Manitoba, highlighting a standout intercept of 7.5 grams per tonne (g/t) gold over 18.9 metres along the Western Flank of the Main Zone, following its January 5, 2026 acquisition of Tartan via the purchase of Canadian Gold Corp. The company said these results, together with prior late‑2025 intercepts of up to 12.3 g/t gold over 14.0 metres, have extended gold mineralization about 30 metres west over an 80‑metre vertical range and expanded the Main Zone’s strike length at depth, supporting the view that Tartan is a rare high‑grade Canadian gold project with strong potential to increase ounces per vertical metre and support a potential mine restart at lower costs. McEwen is budgeting $3 million for 2026 exploration at Tartan, with additional high‑priority targets identified on the Eastern Flank, at depth in the Main Zone, in the South Zone and regionally along the Tartan Lake Shear Zone, underscoring Tartan’s role as a prospective key growth driver as the company works toward its long‑term production and value‑creation goals.
The most recent analyst rating on (MUX) stock is a Hold with a $24.00 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.
On January 6, 2026, McEwen Inc. announced the completion of its previously agreed business combination with Canadian Gold Corp., following Canadian Gold shareholders’ approval on December 5, 2025 and a final order from the British Columbia Supreme Court on December 10, 2025. The deal, effective January 5, 2026, exchanges each Canadian Gold share for 0.0225 McEwen shares, and will result in Canadian Gold being delisted from the TSX Venture Exchange as of market close on January 7, 2026 and seeking to cease reporting issuer status, while former Canadian Gold shareholders must follow set procedures to exchange their certificates for McEwen shares. To comply with New York Stock Exchange requirements, McEwen and Canadian Gold amended their arrangement so that all Canadian Gold shares held by Chairman and Chief Owner Rob McEwen are exchanged for subscription receipts that convert into McEwen shares only upon future shareholder approval, or are settled in cash if such approval is not obtained, a change that applies solely to him and leaves other shareholders’ consideration unchanged, tightening corporate governance around insider participation in the transaction.
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.
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.
On November 3, 2025, McEwen Inc. announced its acquisition of a 31% equity interest in Britannia Mining Solutions Inc., operating as Paragon Geochemical Laboratories Inc., for CDN$15.3 million. Paragon is a leader in PhotonAssay™ technology, which offers rapid and accurate assaying of precious and base metals, and is expanding its operations globally. This strategic investment positions McEwen as Paragon’s largest shareholder, with plans to enhance its board presence, reflecting McEwen’s commitment to innovation and growth in the mining sector.
The most recent analyst rating on (MUX) stock is a Buy with a $21.50 price target. To see the full list of analyst forecasts on McEwen Mining stock, see the MUX Stock Forecast page.