McEwen Mining Inc.
Price History
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About McEwen Mining Inc.
McEwen Mining Inc. (MUX.TO) is a copper mining company listed on the Toronto Stock Exchange (TSX). Our project database tracks 51 projects for McEwen Mining Inc. with technical and economic data extracted from company filings. Its flagship Los Azules Copper Project (Feasibility) carries an after-tax NPV of $2.94B and an IRR of 19.8% over a 21-year mine life.
McEwen Mining Inc. is a diversified gold and silver producer with operations including the McEwen Copper subsidiary, which is developing the Los Azules copper project in Argentina. The company maintains a balanced portfolio of precious and base metals assets.
Primary Commodities
Project Economics
San José Mine (Minera Santa Cruz)
- Mineral Reserves
- 3.71 g/t Au, 189 g/t Ag Reserve grades
Gold Bar
Elder Creek
- Royalties / Streams
- 1.25% NSR (McEwen Royalties)
Tartan Mine Project
- Mineral Reserves
- 168 K oz Au @ .61 g/t Proven & Probable
- Mineral Resources
- 792 K oz Au @ .64 g/t Measured & Indicated; 281 K oz Au @ .78 g/t Inferred
El Gallo Complex
- Mineral Resources
- 199 K oz Au @ 0.42 g/t Measured & Indicated; 4 K oz Au @ 0.41 g/t Inferred; 20 M oz Ag @ 42 g/t Measured & Indicated; 0.3 M oz Ag @ 33 g/t Inferred
Fenix Project
- Mineral Resources
- 199 K oz Au @ 0.42 g/t M&I; 4 K oz Au @ 0.41 g/t Inferred; 20 M oz Ag @ 42 g/t M&I; 0.3 M oz Ag @ 33 g/t Inferred
San José
McEwen Copper (Los Azules Corporate)
Grey Fox
- Mineral Reserves
- Probable: 9,406.8 kt at 3.24 g/t Au for 980.3 koz Au; Total Proven & Probable: 9,405.8 kt at 3.24 g/t Au for 980.3 koz Au
- Mineral Resources
- Indicated (excl. reserves): 9,681 kt at 2.25 g/t Au for 701 koz Au; Inferred (excl. reserves): 4,696 kt at 2.57 g/t Au for 388 koz Au
McEwen Mining (Consolidated MUX)
- Mineral Reserves
- 4,434 K oz Au Proven & Probable; 79.0 M oz Ag Proven & Probable; 4.7 B lb Cu Proven & Probable
- Mineral Resources
- 3,292 K oz Au Measured & Indicated; 35.0 M oz Ag Measured & Indicated; 2.5 B lb Cu Measured & Indicated; 1,250 K oz Au Inferred; 5.2 M oz Ag Inferred; 9.3 B lb Cu Inferred
Los Azules Copper Mining Project
- Mineral Reserves
- Proven and Probable Reserves – September 3, 2025 (Table 12.1; Table 12.5 Los Azules Mineral Reserves Statement, Effective Date 03 September 2025); figures not stated in provided text
- Mineral Resources
- Mineral Resources (Exclusive of Mineral Reserves) (Table 1.2; Table 11.1); figures not stated in provided text
El Gallo Complex (Fenix Project)
- Mineral Resources
- FENIX PROJECT: 199 K oz Au @ 0.42 g/t M&I, 4 K oz Au @ 0.41 g/t Inf; 20 M oz Ag @ 42 g/t M&I, 0.3 M oz Ag @ 33 g/t Inf
Los Azules Copper Project
- Mineral Reserves
- Proven: 229,879 kt at 0.683% CuT, 0.495% CuSol, 3,463 Mlbs Cu; Probable: 793,173 kt at 0.386% CuT, 0.259% CuSol, 6,754 Mlbs Cu; Total: 1,023,052 kt at 0.453% CuT, 0.312% CuSol, 10,217 Mlbs Cu
- Mineral Resources
- Measured & Indicated: 965.5 Mt at 0.255% CuT, 0.077% CuSol, 5.4 Blbs Cu, 1.0 Moz Au, 26.6 Moz Ag; Inferred: 4,239.3 Mt at 0.214% CuT, 0.042% CuSol, 20.0 Blbs Cu, 5.7 Moz Au, 149.9 Moz Ag
Buffalo Ankerite Property
Paymaster Property
Fuller Property
- Royalties / Streams
- Subject to the Summit Organization Inc. NPI royalty of 10%
Froome Mine
- Mineral Resources
- Measured: 241 kt @ 3.44 g/t Au (27 koz); Indicated: 259 kt @ 3.62 g/t Au (30 koz); Total M+I: 500 kt @ 3.53 g/t Au (57 koz); Inferred: 168 kt @ 3.51 g/t Au (19 koz)
- Royalties / Streams
- Two royalties at the Froome Mine, of which none are applicable to the current mine plan; gold stream agreement with Sandstorm whereby McEwen sells 8% of gold produced from the Froome Mine at a 2024 price of US$600.60/oz gold.
Fox Complex - Paymaster
- Royalties / Streams
- McEwen owns 61% interest in the Paymaster property, with the remaining 39% of mineral rights held by Newmont Mining Corporation; JV interest limited to property above the 4,075 level below surface; Newmont holds 100% of the interest below that level
Fox Complex - Fuller
- Royalties / Streams
- Subject to the Summit Organization Inc. NPI royalty of 10%
Fox Complex - Froome Mine
- Royalties / Streams
- Two royalties at the Froome Mine, of which none are applicable to the current mine plan; gold stream - McEwen sells 8% of gold produced from the Froome Mine at a 2024 price of US$600.60/oz gold (Sandstorm)
Black Fox Mine
- Mineral Resources
- Measured: 189 kt @ 4.61 g/t Au (28 koz); Indicated: 100 kt @ 4.38 g/t Au (14 koz); Total M+I: 288 kt @ 4.53 g/t Au (42 koz); Inferred: 225 kt @ 3.93 g/t Au (28 koz)
Davidson-Tisdale Property
- Royalties / Streams
- No royalties in the location of Mineral Resources
Fox Complex
- Royalties / Streams
- Eastern properties: Froome Mine two royalties (none applicable to current mine plan); Grey Fox: 3% NSR, 2.5% NSR, 0.15% NSR, and 5% NPI or sliding scale NSR (independently, not cumulative); Black Fox Mine: no royalties. Stock property: existing Stock Mine Main zone 1% NSR; West zone and East zone no royalties. Western properties: Fuller subject to Summit Organization Inc. NPI royalty of 10%; Davidson-Tisdale no royalties. Gold stream: McEwen sells 8% of gold produced from Froome Mine at 2024 price of US$600.60/oz.
Fox Complex - Black Fox Mine
- Royalties / Streams
- The Black Fox Mine is not subject to any royalties.
Fox Complex (Black Fox Mine and Froome Mine, Grey Fox - Eastern Properties)
- Royalties / Streams
- Two royalties at the Froome Mine, of which none applicable to the current mine plan; Four royalties at Grey Fox (3% NSR, 2.5% NSR, 0.15% NSR, and 5% NPI or sliding scale NSR); Black Fox Mine not subject to any royalties; Sandstorm stream: 8% of gold produced from Froome sold at US$600.60/oz (2024)
Fox Complex - Buffalo Ankerite
Fox Complex - Davidson-Tisdale
- Royalties / Streams
- No royalties in the location of Mineral Resources
Fox Complex - Grey Fox
- Royalties / Streams
- Four royalties at Grey Fox, including, independently not cumulative, a 3% NSR, 2.5% NSR, 0.15% NSR, as well as a 5% net profit interest (NPI) or sliding scale NSR royalty
Grey Fox (Gibson)
- Royalties / Streams
- Four royalties at Grey Fox, including, independently not cumulative, a 3% NSR, 2.5% NSR, 0.15% NSR, as well as a 5% net profit interest (NPI) or sliding scale NSR royalty.
Fox Complex - Grey Fox (incl. Gibson)
Fox Complex - Stock Project East Zone
- Royalties / Streams
- East zone deposits are not subject to royalties
Stock Project (West, Main and East Zones)
- Royalties / Streams
- Stock Mine Main zone subject to 1% NSR; West and East zone deposits not subject to royalties
Stock Project - East Zone
- Royalties / Streams
- East zone deposit not subject to royalties.
Stock East
- Mineral Resources
- Indicated: 866 kt @ 2.70 g/t Au (75 koz); Inferred: 579 kt @ 2.66 g/t Au (50 koz)
Stock West & Main
- Mineral Resources
- Indicated: 1,938 kt @ 3.31 g/t Au (206 koz); Inferred: 1,386 kt @ 2.96 g/t Au (132 koz)
Fox Complex - Stock Project (West & Main Zones)
Fox Complex - Stock Project West & Main Zone
- Royalties / Streams
- Only the existing Stock Mine Main zone subject to a 1% NSR royalty; West zone not subject to royalties
Stock Project - West & Main Zone
- Royalties / Streams
- Only the existing Stock Mine Main zone subject to a 1% NSR royalty. West zone deposit not subject to royalties.
Los Azules Copper Project – NI 43-101 Case (Including Inferred)
Los Azules Copper Project – NI 43-101 Including Inferred (175 ktpa Cu)
Los Azules Copper Project (Phase 1 Base Case 175 ktpa Cu)
McEwen Mining Inc. (MUX.TO)
McEwen Mining - Overall Document
Fox Complex Expansion Case (Stock West, Grey Fox, Fuller)
Fox Complex Expansion (IA Mine Plan Excluding Inferred Mineral Resources)
Fox Complex Expansion (IA Mine Plan)
Fox Complex Expansion Case Excluding Inferred Mineral Resources
Stock West
- Mineral Resources
- Indicated 1,171 kt @ 3.83 g/t Au for 144 koz; Inferred 1,049 kt @ 3.30 g/t Au for 111 koz (cut-off 1.95 g/t Au)
Tamarack
- Mineral Resources
- Indicated (Total): 1,055 kt @ 3.45 g/t AuEq for 55 koz Au, 692 koz Ag, 8 kt Pb, 26 kt Zn (cut-off 2.00 g/t AuEq)
Fenix Project - Phase 1 (Gold)
Fenix Project - Phase 2 (Silver)
Project figures are automatically extracted from company filings and presentations and reflect the most recent disclosure found. They may contain errors — always verify against the linked source document.
How the Economics Evolved
Fuller
3 studies on recordLos Azules Copper Project
26 studies on recordLos Azules Copper Project – NI 43-101 Case (Including Inferred)
2 studies on recordFox Complex - Stock Project (West & Main Zone)
3 studies on recordFox Complex - Stock Project East Zone
4 studies on recordFox Complex - Grey Fox
3 studies on recordPaymaster Property
2 studies on recordFox Complex - Paymaster
3 studies on recordBuffalo Ankerite
2 studies on recordFox Complex
21 studies on recordDavidson-Tisdale
2 studies on recordFox Complex - Fuller
4 studies on recordFox Complex - Black Fox Mine
4 studies on recordFox Complex - Froome Mine
4 studies on recordFox Complex - Davidson-Tisdale
4 studies on recordFox Complex - Buffalo Ankerite
3 studies on recordLos Azules Copper Mining Project
23 studies on recordTartan Mine Project
2 studies on recordGold Bar
2 studies on recordElder Creek
2 studies on recordEconomics as disclosed in each successive study. NPV shown in US$ where a currency conversion is available (at each study's own period rate), else in the study's stated currency. Verify against the source filings.
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Financial Metrics
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Frequently Asked Questions
- What does McEwen Mining Inc. mine?
- McEwen Mining Inc. is focused on Copper.
- What is the economic value of McEwen Mining Inc.'s Los Azules Copper Project?
- According to its Feasibility, Los Azules Copper Project has an after-tax NPV of $2.94B and an IRR of 19.8%.
- What exchange is McEwen Mining Inc. listed on?
- McEwen Mining Inc. trades under the ticker MUX.TO on the Toronto Stock Exchange (TSX).
- How many projects does McEwen Mining Inc. have?
- We track 51 projects with extracted technical and economic data for McEwen Mining Inc.
Project Analysis
Los Azules Copper Project – NI 43-101 Including Inferred (175 ktpa Cu) PEA: $2.66B NPV, 21.2% IRR
McEwen Mining Inc.'s Los Azules Copper Project – NI 43-101 Including Inferred (175 ktpa Cu) in San Juan Province, Argentina (Andes, near Chile border) has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $2.66B, an after-tax IRR of 21.2%, and initial capital of $2.46B. The mine plan runs 27 years at about 175 ktpa Cu cathode per year.
Los Azules Copper Project (Phase 1 Base Case 175 ktpa Cu) PEA: $2.23B NPV, 21.5% IRR
McEwen Mining Inc.'s Los Azules Copper Project (Phase 1 Base Case 175 ktpa Cu) in San Juan Province, Argentina (Andes, near Chile border) has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $2.23B, an after-tax IRR of 21.5%, and initial capital of $2.45B. The mine plan runs 17 years at about 175 ktpa Cu cathode per year.
Los Azules Copper Project – NI 43-101 Case (Including Inferred) PEA: $2.66B NPV, 21.2% IRR
McEwen Mining Inc.'s Los Azules Copper Project – NI 43-101 Case (Including Inferred) in San Juan Province, Argentina has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $2.66B, an after-tax IRR of 21.2%, and initial capital of $2.46B. The proposed mine plan runs 27 years.
Fox Complex Expansion Case Excluding Inferred Mineral Resources PEA: $100M NPV, 31.4% IRR
McEwen Mining Inc.'s Fox Complex Expansion Case Excluding Inferred Mineral Resources in Timmins, Northeastern Ontario, Canada has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $100M and an after-tax IRR of 31.4%. The mine plan runs 6.1 years at about 64420 oz Au/year per year.
Fox Complex Expansion Case (Stock West, Grey Fox, Fuller) PEA: $137M NPV, 21% IRR
McEwen Mining Inc.'s Fox Complex Expansion Case (Stock West, Grey Fox, Fuller) in Timmins, Northeastern Ontario, Canada has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $137M and an after-tax IRR of 21%. The mine plan runs 9.3 years at about 80800 oz Au/year per year.
Fox Complex Expansion (IA Mine Plan Excluding Inferred Mineral Resources) PEA: $126M NPV, $359M Capex
McEwen Mining Inc.'s Fox Complex Expansion (IA Mine Plan Excluding Inferred Mineral Resources) in Timmins, Northeastern Ontario, Canada has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $126M and initial capital of $359M. The mine plan runs 9.1 years at about 57718 oz Au/year per year.
Fox Complex Expansion (IA Mine Plan) PEA: $175M NPV, $438M Capex
McEwen Mining Inc.'s Fox Complex Expansion (IA Mine Plan) in Timmins, Northeastern Ontario, Canada has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $175M and initial capital of $438M. The mine plan runs 12.3 years at about 71980 oz Au/year per year.
Grey Fox PFS: $282M NPV, 24.8% IRR
McEwen Mining Inc.'s Grey Fox in Canada (Ontario, Fox Complex) has a Pre-Feasibility Study (PFS) outlining an after-tax NPV of $282M, an after-tax IRR of 24.8%, and initial capital of $177M.
Press Releases
Assessing McEwen (MUX) Valuation After Recent Share Price Pullback And Strong Long Term Returns
Why McEwen (MUX) Is Back on Investors’ Radar McEwen (MUX) has caught investor attention again after recent share price moves, with the stock showing a 4.9% decline over the past day and a 15% decline over the past month, alongside strong longer term returns. See our latest analysis for McEwen. At a share price of $23.22, McEwen’s recent 1 month share price return of a 15% decline contrasts with a 3 month share price return of 21.95% and a 1 year total shareholder return above 200%. This...
Is McEwen Inc. (MUX) Outperforming Other Basic Materials Stocks This Year?
Here is how McEwen (MUX) and Hochschild Mining PLC (HCHDF) have performed compared to their sector so far this year.
Has McEwen Mining (MUX) Run Too Far After Its 227% One Year Surge?
If you are wondering whether McEwen's current share price lines up with its underlying worth, this article walks through the numbers in a clear, practical way. The stock last closed at US$24.43, with returns of 1.0% over 7 days, a 10.5% decline over 30 days, 30.8% year to date, 227.5% over 1 year, 208.8% over 3 years, and 114.3% over 5 years. Recent attention on McEwen has focused on how these strong multi year returns compare with its fundamentals and balance sheet strength. That context...
McEwen Inc (MUX) Q4 2025 Earnings Call Highlights: A Turnaround to Profitability and Strategic ...
McEwen Inc (MUX) reports a significant profit increase and outlines ambitious production and expansion goals amid challenges.
McEwen Q4 Earnings Call Highlights
McEwen (NYSE:MUX) executives used the company’s fourth-quarter and year-end 2025 results call to outline a growth strategy centered on extending mine lives through exploration, advancing multiple development projects, and moving the Los Azules copper project toward production through its subsidiary,
McEwen (MUX) Q4 Earnings Beat Estimates
McEwen (MUX) delivered earnings and revenue surprises of +164.00% and -5.52%, respectively, for the quarter ended December 2025. Do the numbers hold clues to what lies ahead for the stock?
McEwen Mining Swings to Net Income YoY in Q4 2025, Plans to Double Production by 2030
McEwen Mining (MUX.TO) on Thursday reported that it swung to a net income year over year in the four
McEwen: Q4 Earnings Snapshot
TORONTO (AP) — McEwen Inc. MUX) on Thursday reported net income of $38.1 million in its fourth quarter. On a per-share basis, the Toronto-based company said it had net income of 66 cents.
Q4 and Full Year 2025 Operational and Financial Results: Q4 Net Income of $38.1M ($0.70 per Share) vs. Net Loss of $8.2M ($0.16 per Share) in Q4 2024; Advancing Key Developments to Double Production by 2030
TORONTO, March 12, 2026 (GLOBE NEWSWIRE) -- McEwen Inc. (NYSE/TSX: MUX) today announced its fourth quarter (Q4) and full year results for the period ended December 31, 2025, along with an update on its development projects as the Company looks to increase production to 250,000 – 300,000 GEOs by 2030, while lowering costs and extending mine life across operations. “With gold and silver trading near record highs, we reported significant Net Income and Adjusted EBITDA for Q4 and the full year 2025.
McEwen Q4 and Year-End 2025 Results Conference Call
TORONTO, March 09, 2026 (GLOBE NEWSWIRE) -- McEwen Inc. (NYSE/TSX: MUX) (“McEwen”, "MUX" or the "Company”) invites you to join our Q4 and year-end 2025 conference call that will take place on Thursday, March 12, 2026, at 3:00 PM EDT. Management will discuss our financial results and project developments and follow with a question-and-answer session. Participants can ask questions directly over the phone during the webcast. Thursday,March 12, 2026at 3:00 PM EDTToll Free North America:(888) 210-34
Quick Facts
- Ticker Symbol
- MUX.TO
- Market Cap
- Small Cap
- Category
- Copper
- Commodities
- Copper
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