McEwen Inc. · Gold and Silver Ores

MUX

Elevated riskNext report: Around Nov 6 (est.)

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The short version

A company still losing money with growing sales. Institutions are adding.

Going well

Sales up 27% in the latest quarter vs a year ago
Sales up 13% last year

Watch out for

Share count growing 11.4% a year (dilution)
Losing money

Money moves

No insider buying or selling in the last 30 days
Institutions added 13% to their holdings in the quarter ending June 2026 (95 bought, 71 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$14.59-0.3% that day

Company value: $895M; Share price times all shares
Price vs profit (P/E): 12.5x; You pay about $12 for each $1 of yearly profit
Price vs sales: 3.6x; Company value is 3.6 times a year of sales
Cash vs value: 9%; Cash as a share of company value
Debt vs value: 14%; Debt as a share of company value

From MUX's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$59.2M+27% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $248.4M, up 48% from the 12 months before. Over 5 years, sales grew about 14% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of MUX. Starting points are the company's recent numbers.

Sales growth+30% a yearRecently: +48% a yearProfit margin32%Last 12 months: 32.5%P/E at the end12xToday: 12.5x. Many steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$922M

Profit in 5 years$295M

Price these guesses point to$35.85+146% vs $14.59 todayAbout +20% a year, before dividends

What today's price needs: with a 32% margin and a 12x P/E, sales would have to grow about 8.6% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

1/5Weak

MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-0.6%
MissProfitable every yearSteady profits, not one good year.2 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$6.9M
MissShare count not growingNot diluting owners. Falling means buybacks.+38.2% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.24.1%

Revenue: $197.6M; +13.2% vs prior year
5-year growth: +13.5%/yr; revenue, per year
Total debt: $126.2M
Current ratio: 1.69x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity. A checklist is a starting point for research, not a verdict.