McEwen Mining Inc.

McEwen Mining Inc. Earnings Recaps

MUX Materials 1 recap
Q3 2025 Nov 6, 2025

McEwen Mining reported improved financials in Q3 2025, with a narrower net loss and encouraging momentum in both its gold and copper segments, particularly following advancements at the Los Azules project.

Key takeaways
  • Net loss decreased to $0.5 million ($0.01/share), significantly down from a $2.1 million loss in Q3 2024.
  • Adjusted EBITDA rose to $11.8 million ($0.22/share), reflecting operational efficiency amidst rising metal prices.
  • Los Azules copper project gained crucial support through Argentina's large-scale investment incentive program, enhancing its economic outlook.
  • The feasibility study affirmed robust project economics, projecting a $2.9 billion after-tax NPV and a 19.8% IRR.
  • Cash reserves stood at $51 million, positioning McEwen for strategic investments and growth.
Full recap