Friday's ETF Movers: SKYY, SIL
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 06 2024
0mins
Should l Buy MUX?
Source: NASDAQ.COM
Silver Miners ETF Performance: The Silver Miners ETF is underperforming, down approximately 3.1% in Friday afternoon trading, with Fortuna Mining and Mcewen Mining shares declining by about 2.8% and 2.7%, respectively.
Market Commentary: The views expressed in the article are those of the author and do not necessarily represent Nasdaq, Inc.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy MUX?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on MUX
Wall Street analysts forecast MUX stock price to fall
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 22.820
Low
21.00
Averages
22.00
High
23.50
Current: 22.820
Low
21.00
Averages
22.00
High
23.50
About MUX
McEwen Inc. is a gold and silver mining production and exploration company. It is involved in a copper development project. Its operations sites include San Jose Mine, Fox Complex, Gold Bar mine, El Gallo Complex, Project Fenix, and Los Azules. The San Jose mine is in the northwest corner of the Deseado Massif region, over 20 kilometers north of Newmont's Cerro Negro mine. The Fox Complex is in the Timmins Gold Mining Camp in Northern Ontario, Canada. The Gold Bar Mine is in the southern Roberts Mountains of the Battle Mountain-Eureka-Cortez gold trend in Eureka County, Central Nevada. The El Gallo Complex is in Mexico’s Sinaloa State, along the foothills of the Sierra Madres Occidental mountain range. Fox West properties are in the heart of Timmins Gold Camp in northern Ontario, Canada. It holds an interest in Tartan Lake Gold Mine Project, which is in the province of Manitoba, Canada. It also holds Jewel Ridge and Jewel Ridge West projects and Lookout Mountain discoveries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
McEwen Inc. Reports Strong Q1 2026 Financial Results and Production Growth Plans
- Significant Revenue Growth: In Q1 2026, McEwen reported revenues of $74 million, a 107% increase from Q1 2025, driven by the sale of 15,752 GEOs, highlighting the company's strong performance in the gold and silver markets.
- Improved Profitability: The gross profit for Q1 was $31.5 million, with a substantial increase in gross margins, and net income reached $33.4 million, a stark contrast to the $6.3 million loss in Q1 2025, reflecting enhanced production efficiency and rising gold prices.
- Production Expansion Plans: McEwen aims to increase annual production from 39,000-43,000 GEOs in 2026 to 90,000-110,000 GEOs by 2030, targeting projects like Lookout Mountain, Windfall, and Trinity Ridge to strengthen its competitive position in the market.
- Updated Mineral Resource Estimates: The Tartan Mine project revealed an underground resource estimate of 308,900 ounces of gold, with initial annual production expected at 30,000 GEOs, and potential to increase output to 45,000-55,000 GEOs through future permit modifications, further solidifying the company's resource base.
See More
NevGold Corp. Advances Financing and Resource Estimates
- Expanded Financing: NevGold Corp. announced an upsized financing from C$25 million to C$42,225,497 due to strong institutional demand, expected to close on May 12, 2026, with proceeds aimed at advancing the Limousine Butte and Nutmeg Mountain projects, enhancing the company's financial flexibility.
- Significant Drill Results: At the Limousine Butte project, NevGold reported oxide antimony-gold drill intercepts of 1.93 g/t gold equivalent over 100.6 meters, including a 1.11% antimony intercept, showcasing the project's high-grade potential in North America and likely attracting more investor interest.
- Successful Metallurgical Testing: The metallurgical tests revealed gold recoveries exceeding 93% from antimony-gold material, with individual samples reaching 99%, indicating the company's technological advantage in resource recovery, which could enhance future production efficiency.
- Clear Resource Estimate Goals: NevGold aims to release its maiden antimony-gold Mineral Resource Estimate in Q2 2026, targeting near-term antimony production by 2027, reflecting a clear strategic direction in resource development that may yield substantial returns for shareholders.
See More
McEwen Mining Q1 Earnings Exceed Expectations
- Strong Performance: McEwen Mining reported Q1 GAAP EPS of $0.56, beating expectations by $0.27, indicating a significant improvement in profitability and reflecting the company's robust performance in the mining sector.
- Substantial Revenue Growth: The company achieved Q1 revenue of $74 million, a 107.3% year-over-year increase, exceeding market expectations by $6.68 million, primarily driven by the sale of 15,752 GEOs, showcasing success in resource extraction and sales.
- Adjusted EBITDA Surge: Q1 2026 adjusted EBITDA reached $44.8 million or $0.76 per share, compared to $8.7 million or $0.16 per share in Q1 2025, demonstrating a remarkable enhancement in the company's profitability.
- Stable Production Outlook: The full-year 2026 production guidance remains between 114,000 and 126,000 GEOs, excluding early pre-commercial production from the Stock mine, reflecting the company's confidence in its future production capabilities.
See More
NevGold Corp. Advances Financing and Resource Estimates
- Upsized Financing: NevGold Corp. announced an increase in its previously planned C$25 million financing to C$42,225,497 due to strong institutional demand, expected to close around May 12, 2026, which will fund the advancement of the Limousine Butte and Nutmeg Mountain projects, enhancing the company's financial flexibility.
- Significant Drill Results: At the Limousine Butte project, NevGold reported oxide antimony-gold drill intercepts of 1.93 g/t gold equivalent over 100.6 meters, including a 1.11% antimony intercept, indicating high-grade antimony potential in North America, which is expected to bolster the company's competitive position in the market.
- Successful Metallurgical Testing: The Phase II metallurgical testwork revealed gold recoveries of up to 99% from oxide antimony-gold material, demonstrating that reprocessing historical leach pads can effectively extract both antimony and gold, thereby reducing production costs and enhancing profitability.
- Resource Estimate Plans: The company aims to release its maiden antimony-gold NI 43-101 Mineral Resource Estimate in Q2 2026, targeting near-term antimony production by 2027, marking a significant milestone in resource development that could attract more investor interest.
See More
McEwen Inc. Releases Tartan Mine Technical Report
- Resource Estimate Support: McEwen Inc.'s technical report filed on SEDAR+ indicates that the Tartan Mine Project has indicated resources of 2.619 million tonnes at 3.67 g/t gold, equating to an estimated 308,900 ounces of gold, highlighting the project's economic potential and feasibility.
- Compliance Review: The report, prepared by Global Resource Engineering, underwent verification by qualified personnel, ensuring data reliability and adherence to industry standards, thereby providing confidence to investors.
- Mining Development Outlook: The release of the technical report for the Tartan Mine Project further solidifies McEwen's mining development strategy in Canada, expected to attract more investments and enhance market competitiveness.
- Diversified Investment Portfolio: McEwen Inc. not only focuses on gold and silver production but also holds a 46.3% stake in McEwen Copper, demonstrating its strategic positioning across various mineral resources and strengthening its status in the global mining market.
See More
McEwen Inc. Invites Participation in Q1 2026 Earnings Call
- Earnings Call Announcement: McEwen Inc. will hold its Q1 2026 earnings call on May 7, 2026, at 11:00 AM EDT, where management will discuss financial results and project developments, potentially boosting investor confidence in the company's future prospects.
- Investor Engagement Opportunity: Participants can ask questions directly over the phone, enhancing interaction between investors and management, which increases transparency and helps shareholders better understand and support the company's strategic direction.
- Copper Project Valuation: The implied value of McEwen's Los Azules copper development project in Argentina is $456 million, indicating the company's potential in copper resource development, which is expected to provide significant support for future revenue growth.
- Executive Personal Investment: Chairman and Chief Owner Rob McEwen has personally invested over $250 million and takes a salary of $1 per year, aligning his interests with shareholders and demonstrating his commitment and confidence in the company's long-term development.
See More
McEwen Inc. Reports Strong Q1 2026 Financial Results and Production Growth Plans
- Significant Revenue Growth: In Q1 2026, McEwen reported revenues of $74 million, a 107% increase from Q1 2025, driven by the sale of 15,752 GEOs, highlighting the company's strong performance in the gold and silver markets.
- Improved Profitability: The gross profit for Q1 was $31.5 million, with a substantial increase in gross margins, and net income reached $33.4 million, a stark contrast to the $6.3 million loss in Q1 2025, reflecting enhanced production efficiency and rising gold prices.
- Production Expansion Plans: McEwen aims to increase annual production from 39,000-43,000 GEOs in 2026 to 90,000-110,000 GEOs by 2030, targeting projects like Lookout Mountain, Windfall, and Trinity Ridge to strengthen its competitive position in the market.
- Updated Mineral Resource Estimates: The Tartan Mine project revealed an underground resource estimate of 308,900 ounces of gold, with initial annual production expected at 30,000 GEOs, and potential to increase output to 45,000-55,000 GEOs through future permit modifications, further solidifying the company's resource base.
See More
NevGold Corp. Advances Financing and Resource Estimates
- Expanded Financing: NevGold Corp. announced an upsized financing from C$25 million to C$42,225,497 due to strong institutional demand, expected to close on May 12, 2026, with proceeds aimed at advancing the Limousine Butte and Nutmeg Mountain projects, enhancing the company's financial flexibility.
- Significant Drill Results: At the Limousine Butte project, NevGold reported oxide antimony-gold drill intercepts of 1.93 g/t gold equivalent over 100.6 meters, including a 1.11% antimony intercept, showcasing the project's high-grade potential in North America and likely attracting more investor interest.
- Successful Metallurgical Testing: The metallurgical tests revealed gold recoveries exceeding 93% from antimony-gold material, with individual samples reaching 99%, indicating the company's technological advantage in resource recovery, which could enhance future production efficiency.
- Clear Resource Estimate Goals: NevGold aims to release its maiden antimony-gold Mineral Resource Estimate in Q2 2026, targeting near-term antimony production by 2027, reflecting a clear strategic direction in resource development that may yield substantial returns for shareholders.
See More
McEwen Mining Q1 Earnings Exceed Expectations
- Strong Performance: McEwen Mining reported Q1 GAAP EPS of $0.56, beating expectations by $0.27, indicating a significant improvement in profitability and reflecting the company's robust performance in the mining sector.
- Substantial Revenue Growth: The company achieved Q1 revenue of $74 million, a 107.3% year-over-year increase, exceeding market expectations by $6.68 million, primarily driven by the sale of 15,752 GEOs, showcasing success in resource extraction and sales.
- Adjusted EBITDA Surge: Q1 2026 adjusted EBITDA reached $44.8 million or $0.76 per share, compared to $8.7 million or $0.16 per share in Q1 2025, demonstrating a remarkable enhancement in the company's profitability.
- Stable Production Outlook: The full-year 2026 production guidance remains between 114,000 and 126,000 GEOs, excluding early pre-commercial production from the Stock mine, reflecting the company's confidence in its future production capabilities.
See More
NevGold Corp. Advances Financing and Resource Estimates
- Upsized Financing: NevGold Corp. announced an increase in its previously planned C$25 million financing to C$42,225,497 due to strong institutional demand, expected to close around May 12, 2026, which will fund the advancement of the Limousine Butte and Nutmeg Mountain projects, enhancing the company's financial flexibility.
- Significant Drill Results: At the Limousine Butte project, NevGold reported oxide antimony-gold drill intercepts of 1.93 g/t gold equivalent over 100.6 meters, including a 1.11% antimony intercept, indicating high-grade antimony potential in North America, which is expected to bolster the company's competitive position in the market.
- Successful Metallurgical Testing: The Phase II metallurgical testwork revealed gold recoveries of up to 99% from oxide antimony-gold material, demonstrating that reprocessing historical leach pads can effectively extract both antimony and gold, thereby reducing production costs and enhancing profitability.
- Resource Estimate Plans: The company aims to release its maiden antimony-gold NI 43-101 Mineral Resource Estimate in Q2 2026, targeting near-term antimony production by 2027, marking a significant milestone in resource development that could attract more investor interest.
See More
McEwen Inc. Releases Tartan Mine Technical Report
- Resource Estimate Support: McEwen Inc.'s technical report filed on SEDAR+ indicates that the Tartan Mine Project has indicated resources of 2.619 million tonnes at 3.67 g/t gold, equating to an estimated 308,900 ounces of gold, highlighting the project's economic potential and feasibility.
- Compliance Review: The report, prepared by Global Resource Engineering, underwent verification by qualified personnel, ensuring data reliability and adherence to industry standards, thereby providing confidence to investors.
- Mining Development Outlook: The release of the technical report for the Tartan Mine Project further solidifies McEwen's mining development strategy in Canada, expected to attract more investments and enhance market competitiveness.
- Diversified Investment Portfolio: McEwen Inc. not only focuses on gold and silver production but also holds a 46.3% stake in McEwen Copper, demonstrating its strategic positioning across various mineral resources and strengthening its status in the global mining market.
See More
McEwen Inc. Invites Participation in Q1 2026 Earnings Call
- Earnings Call Announcement: McEwen Inc. will hold its Q1 2026 earnings call on May 7, 2026, at 11:00 AM EDT, where management will discuss financial results and project developments, potentially boosting investor confidence in the company's future prospects.
- Investor Engagement Opportunity: Participants can ask questions directly over the phone, enhancing interaction between investors and management, which increases transparency and helps shareholders better understand and support the company's strategic direction.
- Copper Project Valuation: The implied value of McEwen's Los Azules copper development project in Argentina is $456 million, indicating the company's potential in copper resource development, which is expected to provide significant support for future revenue growth.
- Executive Personal Investment: Chairman and Chief Owner Rob McEwen has personally invested over $250 million and takes a salary of $1 per year, aligning his interests with shareholders and demonstrating his commitment and confidence in the company's long-term development.
See More
