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McEwen

MUX · NYSE

$14.63−$0.27 (−1.81%)TodayMarket closed ·
Prev close $14.90

MUX analyst rating

BuyConsensus of 2 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy2
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 6 analysts

Average $31.82 (+117.5% upside)

Low
$28.28
Now
$14.63
High
$38.85

Upgrades and downgrades

The latest rating actions, newest first

MUX analyst upgrades, downgrades and rating actions
FirmDateActionRating
Roth CapitalAug 10, 2026MaintainsBuy
HC Wainwright & Co.Aug 7, 2026MaintainsBuy
Roth CapitalMar 18, 2026MaintainsBuy
HC Wainwright & Co.Mar 18, 2026MaintainsBuy
Roth CapitalJan 30, 2026MaintainsBuy
Roth CapitalDec 17, 2025MaintainsBuy

The case for and against

Updated Oct 18, 2026

Bull case

McEwen is viewed positively because its portfolio still supports a credible path to long-term organic growth, with management repeatedly guiding to annual production of 250,000–300,000 gold equivalent ounces by 2030 and an estimated 115,700 GEOs in 2026. Despite disappointing Q2 results, 2Q26 showed constructive fundamentals, as revenue rose to $59.2M from $46.7M in 2Q25 and net income improved to $9.6M, or $0.16 per share, reflecting stronger metal pricing and operational execution. The outlook is further reinforced by expanding resources at Fox Complex and the value-creation potential at Los Azules, where McEwen retains a 46.4% stake and an intermediate-term McEwen Copper IPO could unlock additional shareholder value.

Bear case

McEwen is facing a negative fundamental setup because Q2 2026 production fell well short of expectations, with output of about 23,000 ounces of gold and 420,000 ounces of silver versus estimates of 26,647 ounces and 541,000 ounces, mainly due to weaker Gold Bar mining rates and carbon-related issues. This operational miss flowed directly into softer financial results, as revenue came in at $59.2 million and FD EPS at $0.14, below the expected $76.9 million and $0.25, while also forcing a reduction in full-year guidance. Elevated G&A expense, lower-than-anticipated price realizations, and continued sensitivity to gold, silver, and operational risk suggest the company’s fundamentals remain pressured despite longer-term growth potential.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.