McEwen stock reports Q2 profit growth as Gold Bar output falls

Published on 10/06/2026 at 16:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

McEwen stock posted USD 9.6 million of Q2 net income on August 5, 2026, versus USD 3.0 million a year earlier. Gold Bar output fell to 5,842 GEOs.

MUX, US58039P3055, Illustration mit AI erstellt.

McEwen Inc. (ISIN US58039P3055) generated USD 9.6 million of net income in Q2 2026, up from USD 3.0 million in Q2 2025, while Gold Bar production fell to 5,842 gold equivalent ounces. According to McEwen Inc. on August 5, 2026, revenue rose 27 percent year over year to USD 59.2 million.

Profit grows as output diverges

The Q2 result showed a sharp split across McEwen's operating base. Adjusted EBITDA increased to USD 22.2 million from USD 17.3 million, while adjusted EBITDA per share reached USD 0.37 versus USD 0.32 in Q2 2025, according to McEwen Inc..

The company received a USD 49.4 million dividend from the San Jose mine in Q2, taking 2026 dividends from the operation to USD 58.2 million. That total exceeded the previously stated full-year guidance of USD 40 million to USD 50 million.

Gold Bar creates the counterweight

Gold Bar produced 5,842 GEOs in Q2 2026, down from 8,406 GEOs in Q2 2025. McEwen attributed the lower output to less ore placed on the heap leach pad, a temporary assay-lab shutdown and more carbonaceous material in the ore.

The company lowered Gold Bar's 2026 production guidance to 30,000 to 33,000 GEOs and raised its all-in sustaining cost guidance to USD 2,900 to USD 3,200 per GEO. Across the portfolio, full-year production guidance stands at 109,000 to 120,000 GEOs.

Analysts stay above the market

MarketBeat reported on September 25, 2026, that five analysts carried a Moderate Buy consensus, with three Buy ratings and two Hold ratings. The average 12-month target was USD 28.00, placing the target 57.75 percent above the October 6 price of USD 17.75.

The analyst split also includes a negative signal. MarketBeat reported on October 3, 2026, that Wall Street Zen downgraded McEwen from Hold to Sell, while the broader five-analyst consensus remained Moderate Buy.

MUX trades below its yearly high

On October 6, 2026 at 10:38 a.m. ET, MUX was trading at USD 17.75 on the NYSE, down USD 0.14 or 0.81 percent from the prior close. The stock's 52-week range was USD 14.93 to USD 29.70, and its market capitalization was USD 1.1 billion, with volume at 111,616 shares.