McEwen Inc. Common Stock (MUX)

FairStock Score: 48/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am wary of commodity miners because they sell a product they do not price, and McEwen is no exception. Its assets: Gold Bar in Nevada and the Fox Complex in Ontario, are real, but gold and silver prices drive results more than any moat. The filed record shows why: fiscal 2024 produced a net loss of $43.7 million, while fiscal 2025 produced net income of $34.4 million on revenue of $197.6 million. That is a Lynch turnaround, but a volatile one. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $74.0 million and net income was $33.4 million, or $0.47 diluted EPS. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue fell to $59.2 million, net income to $9.6 million, and diluted EPS to $0.14. Financial health is mixed. Debt to equity is modest at 0.18 and FairStock shows ROE of 13.54%, but ROCE is -0.43%, the Altman Z-Score is 0.57, trailing free cash flow is only $6.3 million, and FCF yield is 0.6%. At the close on 2026-10-13, the price was $16.88, with FairStock P/E 13.40, P/B 1.43, Graham Number $18.31, and margin of safety 7.81%. That is not expensive, but EV/EBITDA of 30.78 and a FairStock score of 48/100 tell me the market already sees the recovery. I would want durable cash generation before calling this a bargain.

In plain English: McEwen is a gold and silver mining company with mines in the United States and Canada. The business looks mixed: it returned to profit in fiscal 2025 after a loss in fiscal 2024, but profit dropped from the first quarter of 2026 to the second quarter of 2026. At the 2026-10-13 close of $16.88, the price looks roughly fair: it is not far below a rough value estimate, but cash generation is thin and some risk measures are weak.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-K (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer