(MUX) McEwen Mining - Overview
Stock: Gold, Silver, Copper, Mining, Exploration
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 66.7% |
| Relative Tail Risk | -12.4% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.93 |
| Alpha | 176.99 |
| Character TTM | |
|---|---|
| Beta | 0.773 |
| Beta Downside | 0.729 |
| Drawdowns 3y | |
|---|---|
| Max DD | 46.49% |
| CAGR/Max DD | 1.33 |
Description: MUX McEwen Mining December 26, 2025
McEwen Inc. (NYSE: MUX) is a Toronto-based miner that explores, develops, produces, and sells gold and silver across the United States, Canada, Mexico, and Argentina, with a secondary focus on copper. Its core assets include 100 % ownership of the Gold Bar mine in Nevada, the Fox Complex in Ontario (132 parcels covering 28 sq mi of mining rights and 13 sq mi of surface rights), and the Fenix project in Mexico, complemented by a portfolio of additional exploration claims in the same four jurisdictions. The firm, incorporated in 1979, rebranded from McEwen Mining Inc. to McEwen Inc. in June 2025.
Key operational metrics (2023) show roughly 45 k oz of gold produced at an all-in cash cost of about $900/oz, while the Gold Bar mine contributed ~70 % of total output. The company’s cash-flow profile is sensitive to the gold price, which has been buoyed by persistent inflationary pressures and a low-real-rate environment-both macro drivers that historically lift spot prices above $2,000/oz. Additionally, the Fox Complex’s extensive land package offers a high-grade, near-surface target that could accelerate development timelines if drilling results meet expectations.
Given the sector’s current emphasis on low-cost, high-grade projects and the upside potential of McEwen’s under-explored assets, a deeper dive into its financials and drill-hole data on ValueRay could help quantify the risk-adjusted upside.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -11.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.06 > 0.02 and ΔFCF/TA -7.38 > 1.0 |
| NWC/Revenue: 37.61% < 20% (prev 4.33%; Δ 33.28% < -1%) |
| CFO/TA 0.00 > 3% & CFO 2.55m > Net Income -11.9m |
| Net Debt (76.5m) to EBITDA (20.1m): 3.80 < 3 |
| Current Ratio: 2.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (54.2m) vs 12m ago 4.27% < -2% |
| Gross Margin: 13.71% > 18% (prev 0.22%; Δ 1349 % > 0.5%) |
| Asset Turnover: 23.52% > 50% (prev 29.89%; Δ -6.37% > 0%) |
| Interest Coverage Ratio: -1.47 > 6 (EBITDA TTM 20.1m / Interest Expense TTM 5.57m) |
Altman Z'' -3.28
| A: 0.08 (Total Current Assets 119.4m - Total Current Liabilities 56.8m) / Total Assets 747.6m |
| B: -1.76 (Retained Earnings -1.31b / Total Assets 747.6m) |
| C: -0.01 (EBIT TTM -8.19m / Avg Total Assets 707.7m) |
| D: 1.89 (Book Value of Equity 488.6m / Total Liabilities 259.1m) |
| Altman-Z'' Score: -3.28 = D |
Beneish M 1.00
| DSRI: 5.97 (Receivables 10.5m/2.10m, Revenue 166.5m/199.6m) |
| GMI: 1.62 (GM 13.71% / 22.15%) |
| AQI: 0.89 (AQ_t 0.54 / AQ_t-1 0.61) |
| SGI: 0.83 (Revenue 166.5m / 199.6m) |
| TATA: -0.02 (NI -11.9m - CFO 2.55m) / TA 747.6m) |
| Beneish M-Score: 1.42 (Cap -4..+1) = D |
What is the price of MUX shares?
Over the past week, the price has changed by +4.60%, over one month by +22.74%, over three months by +61.30% and over the past year by +192.02%.
Is MUX a buy, sell or hold?
- StrongBuy: 2
- Buy: 3
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the MUX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 27.3 | 8.1% |
| Analysts Target Price | 27.3 | 8.1% |
| ValueRay Target Price | 29.2 | 15.8% |
MUX Fundamental Data Overview February 04, 2026
P/S = 8.3427
P/B = 2.8424
Revenue TTM = 166.5m USD
EBIT TTM = -8.19m USD
EBITDA TTM = 20.1m USD
Long Term Debt = 126.0m USD (from longTermDebt, last quarter)
Short Term Debt = 833.0k USD (from shortTermDebt, last quarter)
Debt = 127.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 76.5m USD (from netDebt column, last quarter)
Enterprise Value = 1.47b USD (1.39b + Debt 127.7m - CCE 51.2m)
Interest Coverage Ratio = -1.47 (Ebit TTM -8.19m / Interest Expense TTM 5.57m)
EV/FCF = -32.41x (Enterprise Value 1.47b / FCF TTM -45.2m)
FCF Yield = -3.09% (FCF TTM -45.2m / Enterprise Value 1.47b)
FCF Margin = -27.16% (FCF TTM -45.2m / Revenue TTM 166.5m)
Net Margin = -7.16% (Net Income TTM -11.9m / Revenue TTM 166.5m)
Gross Margin = 13.71% ((Revenue TTM 166.5m - Cost of Revenue TTM 143.6m) / Revenue TTM)
Gross Margin QoQ = 0.20% (prev 26.30%)
Tobins Q-Ratio = 1.96 (Enterprise Value 1.47b / Total Assets 747.6m)
Interest Expense / Debt = 1.27% (Interest Expense 1.63m / Debt 127.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = -6.47m (EBIT -8.19m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.10 (Total Current Assets 119.4m / Total Current Liabilities 56.8m)
Debt / Equity = 0.26 (Debt 127.7m / totalStockholderEquity, last quarter 488.6m)
Debt / EBITDA = 3.80 (Net Debt 76.5m / EBITDA 20.1m)
Debt / FCF = -1.69 (negative FCF - burning cash) (Net Debt 76.5m / FCF TTM -45.2m)
Total Stockholder Equity = 487.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -1.68% (Net Income -11.9m / Total Assets 747.6m)
RoE = -2.45% (Net Income TTM -11.9m / Total Stockholder Equity 487.0m)
RoCE = -1.34% (EBIT -8.19m / Capital Employed (Equity 487.0m + L.T.Debt 126.0m))
RoIC = -1.09% (negative operating profit) (NOPAT -6.47m / Invested Capital 591.3m)
WACC = 8.11% (E(1.39b)/V(1.52b) * Re(8.76%) + D(127.7m)/V(1.52b) * Rd(1.27%) * (1-Tc(0.21)))
Discount Rate = 8.76% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 6.40%
Fair Price DCF = unknown (Cash Flow -45.2m)
EPS Correlation: 67.12 | EPS CAGR: 16.09% | SUE: -1.48 | # QB: 0
Revenue Correlation: 67.91 | Revenue CAGR: 10.32% | SUE: -1.03 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.26 | Chg30d=+0.060 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=2.74 | Chg30d=+0.245 | Revisions Net=-2 | Growth EPS=+783.9% | Growth Revenue=+46.5%