olivLaw · US equity research
McEwen Inc. MUX
Gold and Silver Ores · SIC 1040 · Vertical: Gold and Silver Ores (SIC 1040)
McEwen Inc. is a gold and silver miner operating in Canada, the United States, Mexico and Argentina, with a major stake in the Los Azules copper project. Interest in the company has grown on higher metal prices, dividends received from the San José mine and a plan to lift output toward 2030.
At the close of 04 Nov 2026, McEwen Inc. (MUX) stock was 14.93 USD (+9.46% on the day), with market capitalisation 916.1 m USD, P/E 12.8 on diluted EPS of 1.17 USD over the last 12 months, beta 1.38, 52-week range 13.64–29.05 USD. Latest reported quarter (Q2 2026): revenue of 59.2 m USD (+26.8% YoY), net income of 9.6 m USD (+216.0% YoY), diluted EPS 0.14 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 42.0
- weak (30–45)
- Bollinger (20, 2)
- 13.31 – 17.91
- in the lower half of the band · %B 0.35 · band width 29.5%
- SMA 50 / 200
- 17.77 / 20.71
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.97 / -0.95
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −16.6% | −1.1% | −15.5 pp | — |
| 3 months | −24.3% | −0.5% | −23.8 pp | — |
| 6 months | −34.6% | +4.4% | −39.0 pp | — |
| Year to date | −19.3% | +12.3% | −31.7 pp | — |
| 1 year | −13.2% | +13.5% | −26.7 pp | −9.2% |
| 3 years | +109.7% | +76.4% | +33.3 pp | +144.6% |
| 5 years | +33.3% | +63.7% | −30.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 52.3 m | 33.5 m | 35.7 m | 46.7 m | 50.5 m | 64.6 m | 74.0 m | 59.2 m |
| Cost of revenue | 29.7 m | 26.5 m | 19.6 m | 27.7 m | 35.2 m | 40.2 m | 35.6 m | 31.1 m |
| Gross profit | 13.8 m | 363.0 k | 10.1 m | 12.3 m | 7.8 m | 17.4 m | 31.5 m | 20.1 m |
| Operating income | -97.0 k | -14.5 m | -7.6 m | -3.4 m | -8.4 m | 22.1 m | 41.2 m | 7.7 m |
| Depreciation & amortisation | 8.9 m ≈ | 6.9 m | 6.2 m | 6.9 m ≈ | 7.6 m ≈ | 7.2 m | 7.1 m | 8.2 m ≈ |
| Interest expense | 723.0 k | 660.0 k | 1.3 m | 1.4 m | 1.5 m | — | — | — |
| Pre-tax income | -1.3 m | -7.2 m | -7.3 m | 1.9 m | -1.7 m | 14.1 m | 33.2 m | 5.8 m |
| Income tax | 814.0 k | 1.1 m | -1.1 m | -1.1 m | -1.3 m | -24.0 m | -174.0 k | -3.8 m |
| Net income | -2.1 m | -8.2 m | -6.3 m | 3.0 m | -462.0 k | 38.1 m | 33.4 m | 9.6 m |
| Diluted EPS | -0.04 | -0.16 | -0.12 | 0.06 | -0.01 | 0.57 | 0.47 | 0.14 |
| Operating cash flow | 23.2 m ≈ | -1.2 m | -1.9 m | 478.0 k ≈ | 5.2 m ≈ | 3.1 m | 12.1 m | 46.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 44 percentile of its own 9-quarter history (min 4.3, median 15.5, max 1,520.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 128.2 m | 117.0 m | 104.8 m | 136.5 m | 110.4 m | 166.2 m | 174.5 m | 197.6 m |
| Revenue YoY | +90.0% | −8.7% | −10.5% | +30.3% | −19.1% | +50.5% | +5.0% | +13.2% |
| Net income | -44.9 m | -59.7 m | -152.3 m | -56.7 m | -81.1 m | 55.3 m | -43.7 m | 34.4 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −179.0% | unavailable |
| Diluted EPS | unavailable | -0.17 | -3.78 | -1.25 | -1.71 | 1.16 | -0.86 | 0.59 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −174.1% | unavailable |
| net % | -35.0% | -51.1% | -145.4% | -41.5% | -73.4% | 33.3% | -25.0% | 17.4% |
| Free cash flow | -61.9 m | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 51.0 m USD
- Financial debt
- 126.2 m USD
- Net debt
- 75.2 m USD
- Equity
- 546.2 m USD
- Total assets
- 820.2 m USD
- Debt / equity
- 0.23x
- Current ratio
- 1.69x
- ROE
- 6.6%
- ROA
- 4.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 104.8 m | 136.5 m | 110.4 m | 166.2 m | 174.5 m | 197.6 m | SEC (XBRL)· 17 Mar 2026verified |
| Cost of revenue | — | — | 91.3 m | 119.2 m | 113.3 m | 122.8 m | SEC (XBRL)· 17 Mar 2026verified |
| Gross profit | -26.9 m | -6.5 m | -544.0 k | 17.8 m | 30.9 m | 47.6 m | SEC (XBRL)· 17 Mar 2026verified |
| Operating income | -153.2 m | -64.3 m | -95.4 m | -162.1 m | -50.6 m | 2.7 m | SEC (XBRL)· 17 Mar 2026verified |
| Depreciation & amortisation | — | 25.3 m | 19.5 m | 30.4 m | 30.9 m | 27.8 m | SEC (XBRL)· 17 Mar 2026verified |
| EBITDA | — | -38.9 m ≈ | -75.9 m ≈ | -131.7 m ≈ | -19.7 m ≈ | 30.5 m ≈ | SEC (XBRL)· 17 Mar 2026derived |
| Interest expense | — | — | 6.5 m | 5.6 m | 3.0 m | — | SEC (XBRL)· 14 Mar 2025verified |
| Pre-tax income | -153.7 m | -64.2 m | -80.3 m | 67.0 m | -46.7 m | 6.9 m | SEC (XBRL)· 17 Mar 2026verified |
| Income tax | -1.4 m | -7.3 m | 5.8 m | 33.9 m | -3.0 m | -27.5 m | SEC (XBRL)· 17 Mar 2026verified |
| Net income | -152.3 m | -56.7 m | -81.1 m | 55.3 m | -43.7 m | 34.4 m | SEC (XBRL)· 17 Mar 2026verified |
| Diluted EPS | -3.78 | -1.25 | -1.71 | 1.16 | -0.86 | 0.59 | SEC (XBRL)· 17 Mar 2026verified |
| Weighted average diluted shares | 40.3 m | 45.5 m | 47.4 m | 47.5 m | 51.0 m | 65.6 m | SEC (XBRL)· 17 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 20.8 m | 54.3 m | 39.8 m | 23.0 m | 13.7 m | 51.0 m | SEC (XBRL)· 17 Mar 2026verified |
| Inventories | 27.0 m | 15.8 m | 31.7 m | 19.9 m | 18.1 m | 26.8 m | SEC (XBRL)· 17 Mar 2026verified |
| Current assets | 53.5 m | 85.0 m | 81.7 m | 52.7 m | 41.2 m | 107.9 m | SEC (XBRL)· 17 Mar 2026verified |
| Property, plant & equipment, net | 49.0 m | — | — | — | — | — | SEC (XBRL)· 10 Mar 2021verified |
| Total assets | 499.9 m | 525.3 m | 528.7 m | 657.2 m | 664.6 m | 820.2 m | SEC (XBRL)· 17 Mar 2026verified |
| Accounts payable | 36.1 m | 39.6 m | 42.5 m | 22.7 m | 28.4 m | 44.9 m | SEC (XBRL)· 17 Mar 2026verified |
| Short-term debt | — | — | 10.0 m | — | 12.0 m | — | SEC (XBRL)· 14 Mar 2025verified |
| Long-term debt | 48.2 m | 48.9 m | 64.0 m | 40.0 m | 40.0 m | 126.2 m | SEC (XBRL)· 17 Mar 2026verified |
| Current liabilities | 45.6 m | 52.4 m | 84.2 m | 30.0 m | 47.7 m | 63.8 m | SEC (XBRL)· 17 Mar 2026verified |
| Total liabilities | 134.6 m | 135.4 m | 172.4 m | 154.8 m | 169.6 m | 274.0 m | SEC (XBRL)· 17 Mar 2026verified |
| Equity | 365.3 m | 389.9 m | 356.3 m | 502.4 m | 495.0 m | 546.2 m | SEC (XBRL)· 17 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -27.9 m | -20.1 m | -56.6 m | -39.6 m | 29.5 m | 6.9 m | SEC (XBRL)· 17 Mar 2026verified |
| Investing cash flow | -11.8 m | -24.6 m | -23.9 m | -99.6 m | -58.0 m | -48.0 m | SEC (XBRL)· 17 Mar 2026verified |
| Financing cash flow | 17.6 m | 81.0 m | 65.5 m | 172.2 m | 19.2 m | 78.7 m | SEC (XBRL)· 17 Mar 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 65 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 916.1 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet56
- Growth100
- Valuation67
- Quality55
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 10.05 – 37.71 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDA10.05 – 17.50 (Mid 14.07)9 companies used · median multiple 9.8x · quartiles 7.2x – 12.1xAG, CDE, EGO, EQX, EXK, IDR, ITRG, KGC, PAAS
- Peers: P/E16.07 – 37.71 (Mid 18.96)17 companies used · median multiple 16.2x · quartiles 13.7x – 32.2xAEM, AG, AGI, ARIS, AU, B, CDE, EGO, EQX, FNV, GFI, IDR, KGC, NAMM, NEM, PAAS, VOXR
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 65/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 8.0% | 44 (vs peers) | 16% |
| Net margin · Quality | 32.5% | 75 (vs peers) | 9% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 21.4% | 100 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 0.5x | 11 (vs peers) | 16% |
| Interest coverage · Balance sheet | 12.8x | 100 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 2.0x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 12.8x | 89 (vs peers) | 16% |
| EV/EBITDA · Valuation | 10.4x | 44 (vs peers) | 16% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet56/100 · 3/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality55/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation67/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
McEWEN INC. (MUX). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 197.6 m USD in 2025; YoY growth 13.2%; net margin 32.5%; ROE 13.5%; net debt/EBITDA 0.5x.
The estimated value range is 13.06–27.61 USD per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 16.52 USD, the price of 14.93 USD leaves a potential of 10.6% (value / price − 1) and a margin of safety of 9.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 65/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 32.5%
- Revenue CAGR 3Y: 21.4%
- Interest coverage: 12.8x
- Current ratio: 2.0x
- P/E (TTM): 12.8x
What contradicts it
- Net debt / EBITDA: 0.5x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Gold and Silver Ores (SIC 1040) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NEMNewmont Corporation | 122.7 bn | 13.7 | 26.8% | 34.7% | +21.3% | +30% / +194% |
| AEMAgnico Eagle Mines Limited | 91.7 bn | 20.7 | 19.6% | 37.5% | +43.7% | +5% / +242% |
| BBarrick Mining Corp | 67.2 bn | 13.7 | 19.6% | 29.4% | +31.2% | −3% / +128% |
| FNVFRANCO NEVADA Corp | 46.7 bn | 42.0 | 16.3% | 61.0% | +63.7% | +15% / +116% |
| AUAngloGold Ashanti plc | 44.4 bn | 17.0 | 43.1% | 32.1% | +70.8% | +3% / +357% |
| GFIGold Fields Limited | 32.9 bn | 26.6 | 25.7% | 23.9% | +15.6% | −14% / +140% |
| KGCKinross Gold Corp | 25.7 bn | 11.0 | 31.0% | 33.9% | +36.9% | −24% / +264% |
| PAASPan American Silver Corp. | 17.5 bn | 16.2 | 16.8% | 27.1% | +28.4% | −9% / +165% |
| CDECoeur Mining, Inc. | 14.9 bn | 16.0 | 10.3% | 19.2% | +96.4% | −16% / +378% |
| AGIAlamos Gold Inc. | 12.6 bn | 14.3 | 22.1% | 49.0% | +34.3% | −20% / +103% |
| HMYHarmony Gold Mining Company Limited | 10.4 bn | — | — | — | +25.8% | −17% / +163% |
| EQXEquinox Gold Corp. | 8.9 bn | 32.2 | 4.8% | 12.2% | +99.1% | −19% / +106% |
| AGFirst Majestic Silver Corp. | 7.6 bn | 45.3 | 8.0% | 13.1% | +124.3% | +1% / +158% |
| EGOEldorado Gold Corp | 6.7 bn | 13.6 | 12.4% | 27.9% | +37.5% | +7% / +155% |
| CGAUCenterra Gold Inc. | 4.3 bn | — | -4.7% | -7.4% | +28.8% | +61% / +249% |
| ARISAris Mining Corp | 3.2 bn | 38.3 | 7.0% | 8.4% | +81.7% | +12% / +396% |
| NGNovagold Resources Inc. | 2.7 bn | — | -32.8% | — | unavailable | −40% / +45% |
| AAUCAllied Gold Corporation | 2.5 bn | — | -13.8% | -3.9% | +82.3% | −3% / unavailable |
| EXKEndeavour Silver Corp. | 2.1 bn | — | -22.4% | -25.5% | +114.8% | −21% / +259% |
| HYMCHycroft Mining Holding Corporation | 1.6 bn | — | -72.3% | — | −100.0% | +49% / +716% |
| IAUXi-80 GOLD CORP. | 1.2 bn | — | -81.9% | -202.7% | +89.1% | +18% / −15% |
| NEWPNew Pacific Metals Corp. | 952.3 m | — | -2.8% | — | −19.1% | +101% / +181% |
| MUXMcEWEN INC. | 916.1 m | 12.8 | 13.5% | 32.5% | +13.2% | −13% / +110% |
| MTAMetalla Royalty & Streaming Ltd. | 732.0 m | — | -1.7% | -36.1% | +99.6% | +6% / +145% |
| GROYGold Royalty Corp. | 648.9 m | — | -0.7% | -26.5% | +54.5% | −34% / +86% |
1- and 3-year price returns: for MUX from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 10.96 Total return -27% · Per year -27% | 19.29 Total return 29% · Per year 29% | 28.93 Total return 94% · Per year 94% |
| 3 years | 13.00 Total return -13% · Per year -5% | 25.51 Total return 71% · Per year 20% | 41.66 Total return 179% · Per year 41% |
| 5 years | 15.42 Total return 3% · Per year 1% | 33.74 Total return 126% · Per year 18% | 59.99 Total return 302% · Per year 32% |
- Exit P/E± 6.38
- Net margin± 4.46
- Annual revenue growth± 3.33
- Annual dilution± 0.38
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
McEwen Inc. is a gold and silver miner operating in Canada, the United States, Mexico and Argentina, with a major stake in the Los Azules copper project. Interest in the company has grown on higher metal prices, dividends received from the San José mine and a plan to lift output toward 2030 123.
SWOT
Strengths
- A diversified asset base across several jurisdictions and a significant share of dividends from the San José mine.
- Existing infrastructure, including the Stock mill, allows phased project development with limited upfront capital.
- An active exploration program with high-grade intersections at Grey Fox and Tartan.
Weaknesses
- Full reliance on gold and silver revenue with no hedging makes results sensitive to prices.
- Gold Bar production guidance was lowered, pointing to difficulties in reconciling mine models.
- A history of losses and a large accumulated deficit limit the ability to generate consistent profit.
Opportunities
- Output growth toward 250,000 to 300,000 GEOs by 2030, if projects proceed as planned.
- Development of Los Azules could add substantial value for shareholders if the needed financing is secured.
- Recent exploration results could extend the lives of existing mines.
Threats
- A fall in gold or silver prices could make some reserves uneconomic.
- Rising capital and operating costs could compress project margins.
- Dilution risk if project financing relies on share issuance.
Risks
- Dependence on metal priceshigh
All revenue comes from gold and silver, and the company does not hedge, which exposes results to price declines 1.
- Debt and restrictive covenantshigh
Debt obligations, including convertible notes and the credit facility, could limit financial flexibility 1.
- Project delaysmedium
The timetable for Stock, El Gallo and Los Azules could slip due to permits or financing 23.
- Shareholder dilutionmedium
Equity funding or conversion of the notes could reduce current shareholders' stake 1.
- Operational issues at Gold Barmedium
Mine model reconciliation and higher carbon content could affect output in coming quarters 2.
Investment thesis
What would need to be true (bull case)
- If metal prices stay high, dividends from San José and rising output could strengthen the company's position.
- The Los Azules project, with a sizeable net present value, could deliver significant growth if financing closes.
- Exploration results at Grey Fox and Tartan could extend mine lives.
What would break the thesis
- A drop in gold prices could quickly compress margins, given the lack of hedging.
- The reduced Gold Bar guidance shows that operational execution remains a challenge.
- Debt and large capital needs could lead to dilution or unfavorable financing terms.
What to watch
- Stock mine commissioning and start of miningQ4 2026
- Final investment decision for Los AzulesQ4 2026
- Consolidated 2026 production guidance for Gold Bar and Foxnext 10-K
- Updated El Gallo mineral resource estimateQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
McEwen Inc. (formerly McEwen Mining Inc., ticker MUX, listed on NYSE and TSX) produces gold and silver from mines in Ontario, Nevada and Mexico and holds 49% of the San José mine operator in Argentina 1. Consolidated production was 115,687 GEOs in 2025, and revenue from its 100% owned operations was 197.6 million USD 1. The company also holds 46.3% of McEwen Copper, which is developing the Los Azules copper project 1.
Segments
Fox Complex (Canada)
The Fox Complex in Timmins, Ontario, includes the operating Froome mine and the Stock project nearing production, with 20,000 to 23,000 GEOs of annual guidance for 2026 23.
Market context
Trends
- High gold pricestailwind
Elevated precious metal prices could support cash flow and expansion projects if they persist 13.
- Metal price volatilityheadwind
Large price swings can affect profitability and asset values in the absence of hedging 1.
- Funding of development projectsmixed
Development of Los Azules and other projects relies on external funding, which could dilute shareholders 13.
- Output growth from new projectstailwind
Stock, Grey Fox and El Gallo could accelerate production growth if they stay on schedule 23.
Competitive position
McEwen competes with other gold and silver producers operating in the same jurisdictions, and its advantage lies in existing infrastructure and expansion projects with moderate capital costs 23.
The reviewed sources do not detail direct competitors, so this analysis rests on shared jurisdictions and business type 1.
- Hochschild Mining
Operator of the San José mine in which McEwen holds 49%, and the majority owner of the project 1.
- Other Nevada gold producers
Companies in the same geological region competing for labor, equipment and permits.
- Ontario gold producers
Operators in the Timmins mining district competing for the same resources and financing.
- Argentine copper developers
Copper projects in the same region, relevant to the value of the McEwen Copper stake.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report13 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Current report01 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report26 Aug 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report07 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report30 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report10 Jun 2026Shareholder vote
- Current report02 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report (amendment)01 Jun 2026Other events · Financial statements and exhibits
- Current report22 May 2026Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / McEwen Inc. · 17 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / McEwen Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / McEwen Inc. · 07 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.