Mcewen Mining Inc (TSE:MUX)
TSX:MUX
Earnings Data
Report Date
May 07, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.59Last Year’s EPS
-0.1Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive tone driven by a meaningful financial turnaround in Q4 and FY 2025, a stronger cash position, clear near-term operational progress (Stock, Gold Bar, Grey Fox preparation) and a materially de‑risked, high-quality copper development (Los Azules) with very attractive economics at current copper prices. Key risks noted include the need to secure project financing (Los Azules), execution and staffing demands across multiple growth projects, reliance on elevated commodity prices and the timing uncertainty of pre-commercial to commercial transitions (Stock). Overall, highlights (profitability, cash, Los Azules derisking and strong project economics) materially outweigh the listed lowlights.Company Guidance
Quarterly and Full-Year Profitability Turnaround
Q4 2025 gross profit rose to $17.4M from $7.8M the prior quarter (more than doubled QoQ). Full-year gross profit increased to $47.6M from $30.9M in 2024 (+54%). Q4 reported net income of $38.1M ($0.70/share) vs. a net loss of $8.2M ($0.16/share) in Q4 2024. FY 2025 net income of $34.4M vs. a net loss of $43.7M in 2024 — a sharp turnaround.
Material Improvement in Cash Position
Cash balance at year-end increased to $51M from $14M a year earlier (+264%), strengthening liquidity to support development plans.
Strong Realized Prices and San José Contributions
Realized gold price at 100% owned operations averaged over $4,400/oz in Q4. San José contributed $33.5M in Q4 to the company’s 49% interest, and an $8.8M dividend was received subsequently in February.
McEwen Copper – Los Azules Feasibility and De‑risking
Los Azules secured RIGI (30 years of fiscal/regulatory stability) and completed a Feasibility Study. Base case ($4.35/lb Cu) yields after-tax NPV8% of $2.9B, IRR 19.8%, 3.9-year payback; LOM 22 years; avg cathode production 205k tpa (first 5 years) and 148k tpa (LOM); C1 $1.71/lb, AISC $2.11/lb.
Excellent Copper Economics at Current Prices
At ~ $5.80/lb Cu, Los Azules’ NPV increases to $6.3B, IRR to 30% and payback shortens to 2.7 years. Company states ~$2.3B NPV increase per $1 Cu move and ~ $18 per MUX share value per $1 Cu change (private value reference: $30/share valuation Oct 2024 implying ~$987M).
Clear Development / Financing Path for Los Azules
IFC collaboration agreement in place, interest from export credit and development finance agencies, targeting FID by end-2026 and construction start early-2027 (subject to financing). Company plans McEwen Copper IPO later in 2026 to unlock value and broaden financing options.
Progress on Precious Metals Growth Projects
Stock ramp development advancing on schedule with production expected in H2 2026 (pre-commercial production to be reported when it starts). Grey Fox pre-feasibility study due in June 2026. Tartan planning and permitting ongoing. Gold Bar life extended into the 2030s with ongoing drilling (Trinity Ridge) and planned $12M heap-leach expansion in 2026.
Capital Allocation and Modest Near-Term CapEx
2026 incremental CapEx to complete Stock estimated mid $50–60M; Gold Bar expansion ~$12M; Mexico plant refurbishment ~$25M — total near ~$100M for 2026. Management expects similar ~$100M p.a. run-rate while largely targeting internal financing where possible to limit dilution.
Strategic Equity Investments and Technology Upside
Paragon (photon assay) investment (approx. 28% ownership) shows adoption momentum; Paragon share price referenced doubling from CAD1.75 to CAD3.50. McEwen using Paragon internally; industry adoption accelerating (e.g., Barrick deployment).
TSE:MUX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:MUX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 12, 2026 | C$33.85 | C$33.56 | -0.86% |
Nov 06, 2025 | C$24.41 | C$22.13 | -9.34% |
Aug 07, 2025 | C$15.04 | C$14.75 | -1.93% |
May 08, 2025 | C$10.81 | C$10.35 | -4.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Mcewen Mining Inc (TSE:MUX) report earnings?
Mcewen Mining Inc (TSE:MUX) is schdueled to report earning on May 07, 2026, TBA (Confirmed).
What is Mcewen Mining Inc (TSE:MUX) earnings time?
Mcewen Mining Inc (TSE:MUX) earnings time is at May 07, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What is TSE:MUX EPS forecast?
TSE:MUX EPS forecast for the fiscal quarter 2026 (Q1) is 0.59.