MUX Q4 Earnings Miss Estimates, Revenues Down Y/Y on Low Sales Volumes

Core Viewpoint - McEwen Mining reported disappointing financial results for Q4 2024, with significant declines in production and revenues, missing consensus estimates for both earnings and revenues. Financial Performance - The adjusted loss per share was 15 cents, missing the Zacks Consensus Estimate of a loss of 13 cents per share, compared to earnings of $2.90 in the same quarter last year [1][2] - Including one-time items, the loss was 16 cents per share against earnings of$2.89 per share in the prior year [2] - Revenues from gold and silver sales were $34 million, missing the consensus estimate of$36 million, marking a 42% year-over-year decline [3] - Production decreased by 35% year-over-year to approximately 32.4 thousand ounces, with sales of 31.5 thousand GEOs down 37% from the previous year [4] - The average realized price increased by 35% to $2,648 per GEO [4] - Adjusted EBITDA improved to a positive$5.2 million from a negative $4.9 million in the year-ago quarter [5] Cash Position - The company used$1.2 million in cash for operating activities in Q4, compared to an inflow of $16.4 million in the prior-year quarter [6] - Cash and cash equivalents stood at$13.7 million as of December 31, 2024, down from $23 million a year earlier [6] Annual Performance - For the full year 2024, McEwen Mining reported a loss of 86 cents per share, missing the consensus estimate of a loss of 72 cents per share, compared to earnings of$1.16 in 2023 [7] - Revenues increased by 5% year-over-year to $174 million but fell short of the consensus estimate of$201 million [7] - Consolidated production for 2024 was 135,884 GEOs, down from 154,587 GEOs in 2023, with an average realized price of $2,390 per ounce, a 24$1,927 per ounce in 2023 [8] Stock Performance - Shares of McEwen Mining have declined by 6.2% over the past year, compared to a 7.7% decline in the industry [9] Zacks Rank - McEwen Mining currently holds a Zacks Rank of 4 (Sell) [10]