Core Viewpoint - McEwen Mining Inc. reported a consolidated production of 135,900 gold equivalent ounces (GEOs) for the full year 2024, which is within the guidance range provided earlier [1][2]. Production Summary - Gold Bar Mine produced 44,600 GEOs, exceeding the guidance range of 40,000 - 43,000 GEOs [2][3]. - San José Mine produced 60,100 GEOs, also slightly above the guidance range of 50,000 - 60,000 GEOs [2][3]. - Fox Complex produced 30,150 GEOs, which was below the annual guidance of 40,000 - 42,000 GEOs due to a stope failure [2][3]. 2025 Production and Cost Guidance - For 2025, consolidated production is expected to be between 120,000 and 140,000 GEOs, with the lower end influenced by the transition of production at the Fox Complex [4]. - Cash costs per GEO for 2025 are projected to be between $1,550 and $1,750, while all-in sustaining costs (AISC) are expected to range from $1,800 to $2,000 [3][4]. Operational Insights - At Fox Complex, development delays are anticipated to affect production, with commercial production from the Stock project now expected in early 2026 [5]. - Gold Bar Mine is expected to have lower production in the first half of 2025 due to ongoing waste stripping, which is projected to improve ore availability in the latter half of the year [6]. Company Overview - McEwen Mining operates in Nevada, Canada, Mexico, and Argentina, and also holds a 46.4% stake in McEwen Copper, which owns the Los Azules copper project in Argentina [10]. - The company aims to enhance productivity and asset life to increase share price and provide investor yield [10].

Company Performance - McEwen (MUX) has shown a year-to-date performance increase of approximately 5.1%, outperforming the average loss of 12.4% in the Basic Materials sector [4] - The Zacks Consensus Estimate for McEwen's full-year earnings has increased by 72.7% over the past quarter, indicating improved analyst sentiment and a stronger earnings outlook [3] Sector and Industry Context - McEwen is part of the Basic Materials sector, which consists of 235 individual stocks and ranks 9 in the Zacks Sector Rank [2] - Within the Mining - Miscellaneous industry, McEwen is one of 60 companies and currently holds a position at 91 in the Zacks Industry Rank [5] Comparative Analysis - Another stock in the Basic Materials sector, Equinox Gold (EQX), has a year-to-date return of 3.4%, indicating that McEwen is performing better than this peer as well [4] - Both McEwen and Equinox Gold have a Zacks Rank of 2 (Buy), suggesting a favorable outlook for both stocks [3][5]

TORONTO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce the approval of the Environmental Impact Assessment (EIA) for its Los Azules copper project. The Environmental Impact Statement (EIS), which is the ministerial resolution approving the EIA, is a key permitting milestone on the way to feasibility, construction and future operation. This EIS, which is issued by the San Juan Provincial Government's Ministry of Mines, ...

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Company Overview - McEwen Mining Inc. is a gold and silver producer with operations in Nevada, Canada, Mexico, and Argentina [3] - The company owns a 46.4% interest in McEwen Copper, which is developing the Los Azules copper project in Argentina [3] - The objective of the company is to improve productivity and asset life to increase share price and provide investor yield [3] Financial Results Announcement - McEwen Mining will hold a conference call on November 6, 2024, at 11:00 AM EST to discuss Q3 2024 financial results and project developments [1] - Participants can ask questions directly over the phone during the webcast [1] - An archived replay of the webcast will be available approximately 2 hours after the live event [2]

Group 1 - The stock of McEwen Mining (MUX) closed at $10.38, showing a 7.7% gain over the past four weeks, with a mean price target of $13.25 indicating a potential upside of 27.7% [1] - Analysts have set short-term price targets for MUX ranging from a low of $12 to a high of $15, with a standard deviation of $1.56, suggesting a variability in estimates; the lowest estimate indicates a 15.6% increase, while the highest points to a 44.5% upside [2] - There is a strong consensus among analysts that MUX will report better earnings than previously estimated, which historically correlates with potential stock price increases [4][9] Group 2 - The Zacks Consensus Estimate for MUX's current year earnings has increased by 9.3% over the last 30 days, with no negative revisions, indicating positive sentiment among analysts [10] - MUX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, suggesting a favorable outlook for the stock [11] - While price targets can be misleading, the direction implied by the consensus price target appears to be a useful guide for potential price movement [8][11]

Core Viewpoint - McEwen Copper Inc. has successfully closed an additional $35 million investment from Nuton LLC, a Rio Tinto Venture, as part of a larger financing effort to support its Los Azules copper project [1][2]. Group 1: Investment Details - The total gross proceeds from the private placement financing have reached $56 million after the second tranche, which included Nuton's purchase of 1,166,666 common shares for $35 million and additional investments from other investors [1][2]. - The initial tranche of the offering raised $19 million, led by McEwen Mining's $14 million investment and Rob McEwen's $5 million investment [1]. Group 2: Ownership Structure - Following the recent share issuances, Nuton now holds 17.2% of McEwen Copper on a fully diluted basis, with McEwen Mining owning 46.4%, Stellantis 18.3%, Rob McEwen 12.7%, and other shareholders making up the remainder [2]. Group 3: Project Development - Proceeds from the offering will be allocated to advancing the feasibility study for the Los Azules copper project, which is expected to be published in the first half of 2025 [2]. - The Los Azules project is recognized as one of the largest undeveloped copper deposits globally, with a PEA estimating a $2.7 billion after-tax NPV at a copper price of $3.75 per pound [5].

Shares of McEwen (MUX) have gained 15.2% over the past four weeks to close the last trading session at $9.68, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $13.25 indicates a potential upside of 36.9%. The mean estimate comprises three short-term price targets with a standard deviation of $1.56. While the lowest estimate of $12 indicates a 24% increase from the current price l ...

Group 1: Agreement and Renewable Energy Initiatives - McEwen Mining's subsidiary, McEwen Copper, has signed an agreement with YPF Luz to power the Los Azules copper mine with 100% renewable energy, aligning with the company's goal of becoming fully renewable [1][5] - The Memorandum of Understanding (MOU) allows YPF Luz to negotiate the exclusive energy supply for the Los Azules project, involving renewable energy via a high-voltage transmission line that YPF Luz will create and finance [2][4] - The project aims to be carbon-neutral by 2038, with a focus on lower water consumption and carbon emissions compared to conventional copper mining practices [5] Group 2: Financial Performance - In Q2 2024, McEwen Mining reported a 38.2% year-over-year increase in revenues, reaching $47 million, surpassing the Zacks Consensus Estimate of $44 million [6] - The company experienced a loss per share of 26 cents, an improvement from a loss of 46 cents in Q2 2023, while the consensus estimate was a loss of 22 cents [6] Group 3: Stock Performance - McEwen Mining's shares have increased by 9.7% over the past year, contrasting with a 0.5% decline in the industry [7]

TORONTO, Aug. 26, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce that its 48%-owned McEwen Copper Inc. has secured an agreement with YPF Luz to power its large Los Azules copper project with 100% renewable energy. This exclusive agreement covers the supply of renewable energy through a high-voltage transmission line, with YPF Luz responsible for its development and financing. YPF Luz and McEwen Copper have signed a Memorandum of Understanding (MOU) that allows the ...