
McEwen Mining (MUX) Stock Forecast & Price Target
McEwen Mining (MUX) Analyst Ratings
Bulls say
McEwen is supported by a credible organic growth profile, with management repeatedly guiding annual production to 250,000-300,000 gold equivalent ounces by 2030 and the company appearing on track through a portfolio of operating mines and projects. Its 2Q26 results also showed improving fundamentals, as revenue rose to $59.2M and net income increased to $9.6M, or $0.16 per share, versus $46.7M and $3.0M in 2Q25, while Fox Complex contributed 7,000 GEOs and exploration expanded resources materially at Windfall, Lookout Mountain, and Tartan. Further upside is tied to advancing Los Azules and McEwen Copper, where a potential intermediate-term IPO could unlock value, while Grey Fox and other growth projects provide additional leverage to gold prices and longer-term cash flow.
Bears say
McEwen is facing a bearish fundamental setup because Q2 2026 results materially missed expectations, with production of about 23,000 ounces of gold and 420,000 ounces of silver versus estimates of 26,647 and 541,000, respectively, which pushed revenue down to $59.2 million and FD EPS to $0.14 versus $76.9 million and $0.25. The shortfall was driven largely by Gold Bar’s lower mining rates and higher-than-expected carbon concentrations, and it also reduced full-year guidance, highlighting elevated operational and technical risk. In addition, management expects G&A expense to remain sticky and gold and silver prices have softened, pressuring valuation while political, commodity, and market risks remain significant across its multi-country asset base.
This aggregate rating is based on analysts' research of McEwen Mining and is not a guaranteed prediction by Public.com or investment advice.
McEwen Mining (MUX) Analyst Forecast & Price Prediction
Start investing in McEwen Mining (MUX)
Order type
Buy in
Order amount
Est. shares
0 shares