McEwen Inc. MUX

Basic materials SIC 1040 - Gold and Silver Ores NAICS Mining, Quarrying, and Oil and Gas Extraction › Mining (except Oil and Gas) › Metal Ore Mining › Gold Ore and Silver Ore Mining derived NYSE

McEwen Inc. (the "Company") is a gold and silver mining production and exploration company with an advanced copper development project, focused on the Americas. We were incorporated under the laws of the state of Colorado in 1979 as US Gold Corp. In September 2011, US Gold Corp. acquired Minera Andes Inc., and was renamed McEwen Mining Inc. Effective July 7, 2025, the Company changed its name from McEwen Mining Inc. to McEwen Inc. We own 100% of the Froome mine and Stock mill in Ontario, Canada; 100% of the Gold Bar Mine Complex in Nevada; 100% of El Gallo (previously known as the Fenix Project) in Sinaloa, Mexico; a 46.3% interest in McEwen Copper Inc., the owner of the Los Azules copper project ("Los Azules") in San Juan, Argentina; and a 49% interest in MSC, the owner and operator of the San José mine in Santa Cruz, Argentina. In addition to the above, we hold interests in advanced-stage and exploration-stage projects in the United States, Canada, Mexico, and Argentina.

Last close 14.63 2026-10-23
Market cap $897.7M 2026-06-30 share count
52-week range 14.07 - 29.70

Valuation FY2025 figures against the last close

P/S4.5x
P/E24.8x
P/FCF130.8x
EV/EBITDA31.2x
Dividend yield—
Diluted EPS0.59

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • USA
  • Canada
  • Mexico
Revenue by geography, 3 categories over 1 years. The same figures are in the table below. FY2025 USA, FY2025: 116.7M (59.1%) 59% USA Canada, FY2025: 76M (38.5%) 38% Canada Mexico, FY2025: 4.8M (2.4%)
Region FY2025
USA $116.7M
Canada $76.0M
Mexico $4.8M

As the company reported it, from the “OPERATING SEGMENT REPORTING - Geographic information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • USA
  • Canada
  • Mexico
Revenue by segment, 3 categories over 1 years. The same figures are in the table below. FY2025 USA, FY2025: 116.7M (59.1%) 59% USA Canada, FY2025: 76M (38.5%) 38% Canada Mexico, FY2025: 4.8M (2.4%)
Segment FY2025
USA $116.7M
Canada $76.0M
Mexico $4.8M

As the company reported it, from the “OPERATING SEGMENT REPORTING - Reportable Operating Segments (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $197.6M$174.5M$166.2M$110.4M$136.5M$104.8M$117.0M$128.2M$67.5M$60.4M
Cost of revenue ————————$45.2M$28.1M
Gross profit $47.6M$30.9M$17.8M-$544.0K-$6.5M-$26.9M$9.0M$32.1M$20.1M$32.3M
SG&A $26.7M$17.2M$15.4M$11.9M$11.4M$9.2M$12.8M$11.1M$12.3M$12.7M
Total operating expenses $44.9M$81.5M$179.8M$94.9M$57.8M$126.2M$72.9M$79.3M$46.4M$16.9M
Operating income $2.7M-$50.6M-$162.1M-$95.4M-$64.3M-$153.2M-$63.9M-$47.2M-$26.3M$15.3M
Interest expense $7.2M$4.6M$36.9M$7.8M$6.2M$7.4M$6.8M$1.6M$938.0K$835.0K
Pre-tax income $6.9M-$46.7M$67.0M-$80.3M-$64.2M-$153.7M-$63.6M-$47.6M-$26.0M$17.3M
Income tax $27.5M$3.0M$33.9M$5.8M$7.3M$1.4M$3.8M$2.8M$15.4M$3.7M
Net income $34.4M-$43.7M$55.3M-$81.1M-$56.7M-$152.3M-$59.7M-$44.9M-$10.6M$21.1M
EPS, basic 0.64-0.861.16-1.71-1.25-3.78-0.17—-0.030.07
EPS, diluted 0.59-0.861.16-1.71-1.25-3.78-0.17-0.13-0.030.07
Shares, diluted (wtd. avg.) 65.6M51.0M47.5M47.4M45.5M40.3M361.8M337.3M313.9M300.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $51.0M$13.7M$23.0M$39.8M$54.3M$20.8M$46.5M$15.8M$37.2M$37.4M
Short-term investments $21.1M$1.6M$1.7M———————
Inventory $26.8M$18.1M$19.9M$31.7M$15.8M$27.0M$38.4M$22.0M$32.0M$26.6M
Total current assets $107.9M$41.2M$52.7M$81.7M$85.0M$53.5M$92.0M$59.4M$86.9M$78.6M
Property, plant and equipment —————$49.0M$107.6M$114.7M$51.0M$14.3M
Total assets $820.2M$664.6M$657.2M$528.7M$525.3M$499.9M$631.2M$616.9M$592.1M$498.3M
Accounts payable $44.9M$28.4M$22.7M$42.5M$39.6M$36.1M$34.1M$30.8M$34.9M$20.0M
Short-term debt —$12.0M—$10.0M——$5.0M———
Total current liabilities $63.8M$47.7M$30.0M$84.2M$52.4M$45.6M$48.8M$36.0M$37.6M$20.6M
Long-term debt $126.2M$40.0M$40.0M$64.0M$48.9M$48.2M$19.8M$24.6M——
Total liabilities $274.0M$169.6M$154.8M$172.4M$135.4M$134.6M$131.7M$131.0M$70.9M$55.3M
Retained earnings -$1.28B-$1.31B-$1.27B-$1.32B-$1.24B-$1.18B-$1.03B-$971.5M-$929.6M-$919.0M
Total equity $546.2M$495.0M$502.4M$356.3M$389.9M$365.3M$499.5M$485.9M$521.3M$443.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $6.9M$29.5M-$39.6M-$56.6M-$20.1M-$27.9M-$39.5M$487.0K-$27.6M$7.4M
Depreciation and amortisation $27.8M$30.9M$30.4M$19.5M$25.3M——$9.2M$3.4M$1.2M
Capital expenditure ———————$62.3M$5.1M$1.2M
Investing cash flow -$48.0M-$58.0M-$99.6M-$23.9M-$24.6M-$11.8M-$14.1M-$69.3M-$22.3M$7.6M
Financing cash flow $78.7M$19.2M$172.2M$65.5M$81.0M$17.6M$70.0M$60.4M$49.7M-$3.2M
Buybacks —————————$582.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-077359.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M -100M 0 100M 200M Revenue, FY2016: 60.4M Gross profit, FY2016: 32.3M Net income, FY2016: 21.1M Revenue, FY2017: 67.5M Gross profit, FY2017: 20.1M Net income, FY2017: -10.6M Revenue, FY2018: 128.2M Gross profit, FY2018: 32.1M Net income, FY2018: -44.9M Revenue, FY2019: 117M Gross profit, FY2019: 9M Net income, FY2019: -59.7M Revenue, FY2020: 104.8M Gross profit, FY2020: -26.9M Net income, FY2020: -152.3M Revenue, FY2021: 136.5M Gross profit, FY2021: -6.5M Net income, FY2021: -56.7M Revenue, FY2022: 110.4M Gross profit, FY2022: -544K Net income, FY2022: -81.1M Revenue, FY2023: 166.2M Gross profit, FY2023: 17.8M Net income, FY2023: 55.3M Revenue, FY2024: 174.5M Gross profit, FY2024: 30.9M Net income, FY2024: -43.7M Revenue, FY2025: 197.6M Gross profit, FY2025: 47.6M Net income, FY2025: 34.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $60.4M $67.5M $128.2M $117.0M $104.8M $136.5M $110.4M $166.2M $174.5M $197.6M
Gross profit $32.3M $20.1M $32.1M $9.0M -$26.9M -$6.5M -$544.0K $17.8M $30.9M $47.6M
Net income $21.1M -$10.6M -$44.9M -$59.7M -$152.3M -$56.7M -$81.1M $55.3M -$43.7M $34.4M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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