McEwen Mining Inc. (MUX) 10-Year Financial Performance & Capital Metrics

MUX • • Industrial / General

Basic MaterialsPrecious MetalsPrecious Metals Mining & ProductionGold-Focused Producers

AboutMcEwen Mining Inc. engages in the exploration, development, production, and sale of gold and silver deposits in the United States, Canada, Mexico, and Argentina. The company also explores for copper deposits. It primarily owns a 100% interest in the Gold Bar mine in Eureka County, Nevada; the Black Fox gold mine in Ontario, Canada; the El Gallo Project and Fenix silver-gold project in Sinaloa, Mexico; the Los Azules copper deposit in San Juan, Argentina; and a portfolio of exploration properties in Nevada, Canada, Mexico, and Argentina. It also owns a 49% interest in the San José mine located in Argentina. The company was formerly known as US Gold Corporation and changed its name to McEwen Mining Inc. in January 2012. McEwen Mining Inc. was incorporated in 1979 and is headquartered in Toronto, Canada.Show more

Revenue $174M +5.0%
EBITDA -$20M +85.0%
Net Income -$44M -179.0%
EPS (Diluted) -0.86 -174.1%
Gross Margin 17.73% +65.8%
EBITDA Margin -11.3% +85.7%
Operating Margin -28.98% +70.3%
Net Margin -25.04% -175.3%
ROE -8.76% -168.0%
ROIC -7.26% +73.0%
Debt/Equity 0.09 +1.2%
Interest Coverage -11.01

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 92 (top 8%)

✗Weaknesses

✗Negative free cash flow
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y14.44%

5Y8.32%

3Y8.52%

TTM-16.62%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-111.58%

EPS CAGR

10Y-

5Y-

3Y-

TTM-110.65%

ROCE

10Y Avg-13.28%

5Y Avg-20.29%

3Y Avg-19.63%

Latest-8.11%

Peer Comparison

Gold-Focused Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PPTAPerpetua Resources Corp.	3.82B	31.32	142.36			-8.32%		0.00
NVANova Minerals Limited	343.53M	9.14	-3.97			-21.9%
MUXMcEwen Mining Inc.	1.32B	22.34	-25.98	4.96%	-7.16%	-2.44%		0.09
ITRGIntegra Resources Corp.	744.56M	4.10	-41		5.98%	9.63%		0.19
AUGOAura Minerals	5.09B	60.96	-145.14	42.52%	-5.55%	-13.28%	0.82%	1.73

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	72.96M	60.39M	67.72M	128.82M	117.02M	104.79M	136.54M	110.42M	166.23M	174.48M
Revenue Growth %	0.61%	-0.17%	0.12%	0.9%	-0.09%	-0.1%	0.3%	-0.19%	0.51%	0.05%
Cost of Goods Sold+	35.78M	35.53M	49.02M	96.09M	108.03M	131.74M	143.02M	110.96M	148.45M	143.54M
COGS % of Revenue	0.49%	0.59%	0.72%	0.75%	0.92%	1.26%	1.05%	1%	0.89%	0.82%
Gross Profit+	37.18M	24.85M	18.71M	32.08M	8.99M	-26.95M	-6.48M	-544K	17.78M	30.93M
Gross Margin %	0.51%	0.41%	0.28%	0.25%	0.08%	-0.26%	-0.05%	-0%	0.11%	0.18%
Gross Profit Growth %	11.97%	-0.33%	-0.25%	0.71%	-0.72%	-4%	0.76%	0.92%	33.68%	0.74%
Operating Expenses+	26.55M	22.46M	43.98M	62.61M	72.9M	126.23M	57.8M	94.89M	179.84M	81.51M
OpEx % of Revenue	0.36%	0.37%	0.65%	0.49%	0.62%	1.2%	0.42%	0.86%	1.08%	0.47%
Selling, General & Admin	12.04M	12.73M	12.34M	23.16M	12.79M	9.2M	11.44M	11.89M	15.45M	17.16M
SG&A % of Revenue	0.17%	0.21%	0.18%	0.18%	0.11%	0.09%	0.08%	0.11%	0.09%	0.1%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	61.33M	-3.23M	25.11M	39.44M	60.12M	117.03M	46.37M	83M	164.39M	64.34M
Operating Income+	-49.33M	15.35M	-26.29M	-47.19M	-63.91M	-153.17M	-64.28M	-95.44M	-162.06M	-50.57M
Operating Margin %	-0.68%	0.25%	-0.39%	-0.37%	-0.55%	-1.46%	-0.47%	-0.86%	-0.97%	-0.29%
Operating Income Growth %	0.88%	1.31%	-2.71%	-0.8%	-0.35%	-1.4%	0.58%	-0.48%	-0.7%	0.69%
EBITDA+	-47.1M	18.93M	-19.71M	-30.76M	-38.37M	-130.08M	-38.94M	-75.91M	-131.7M	-19.71M
EBITDA Margin %	-0.65%	0.31%	-0.29%	-0.24%	-0.33%	-1.24%	-0.29%	-0.69%	-0.79%	-0.11%
EBITDA Growth %	0.88%	1.4%	-2.04%	-0.56%	-0.25%	-2.39%	0.7%	-0.95%	-0.74%	0.85%
D&A (Non-Cash Add-back)	2.23M	3.58M	6.58M	16.43M	25.54M	23.09M	25.34M	19.53M	30.36M	30.86M
EBIT	10.63M	2.4M	-25.53M	-46.02M	-56.77M	-146.28M	-58M	-98.21M	-104.3M	-12.62M
Net Interest Income+	2.4M	835K	-938K	-1.62M	-6.82M	-7.43M	-6.2M	-7.79M	36.92M	-4.59M
Interest Income	0	0	0	0	0	0	0	0	36.92M	0
Interest Expense	2.4M	835K	938K	1.62M	6.82M	7.43M	6.2M	7.79M	0	4.59M
Other Income/Expense	4.32M	1.96M	283K	-451K	323K	-541K	81K	15.15M	229.1M	3.83M
Pretax Income+	-45.01M	17.31M	-26M	-47.64M	-63.59M	-153.72M	-64.2M	-80.29M	67.04M	-46.74M
Pretax Margin %	-0.62%	0.29%	-0.38%	-0.37%	-0.54%	-1.47%	-0.47%	-0.73%	0.4%	-0.27%
Income Tax+	-24.56M	-3.75M	-15.37M	-2.77M	-3.84M	-1.39M	-7.32M	5.81M	33.86M	-3.05M
Effective Tax Rate %	0.45%	1.22%	0.41%	0.94%	0.94%	0.99%	0.88%	1.01%	0.82%	0.93%
Net Income+	-20.45M	21.05M	-10.63M	-44.87M	-59.75M	-152.32M	-56.71M	-81.08M	55.3M	-43.69M
Net Margin %	-0.28%	0.35%	-0.16%	-0.35%	-0.51%	-1.45%	-0.42%	-0.73%	0.33%	-0.25%
Net Income Growth %	0.93%	2.03%	-1.51%	-3.22%	-0.33%	-1.55%	0.63%	-0.43%	1.68%	-1.79%
Net Income (Continuing)	-20.45M	21.05M	-10.63M	-44.87M	-59.75M	-152.32M	-56.88M	-86.09M	33.18M	-43.69M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	14.78M	33.47M	0	0
EPS (Diluted)+	-0.68	0.70	-0.34	-1.33	-1.65	-3.78	-1.25	-1.71	1.16	-0.86
EPS Growth %	0.94%	2.03%	-1.49%	-2.91%	-0.24%	-1.29%	0.67%	-0.37%	1.68%	-1.74%
EPS (Basic)	-0.70	0.70	-0.34	-1.33	-1.70	-3.78	-1.25	-1.71	1.16	-0.86
Diluted Shares Outstanding	30.03M	30.05M	31.39M	33.73M	36.19M	40.35M	45.49M	47.43M	47.54M	51.02M
Basic Shares Outstanding	29.21M	29.88M	31.39M	33.73M	35.15M	40.35M	45.49M	47.41M	47.54M	51.02M
Dividend Payout Ratio	-	0.14%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	54.44M	78.57M	86.86M	59.38M	91.98M	53.5M	85.03M	81.65M	52.66M	41.19M
Cash & Short-Term Investments	26.91M	45.98M	35.12M	18.89M	48.34M	20.84M	58.64M	40.91M	24.76M	14.9M
Cash Only	25.87M	37.44M	27.15M	15.76M	46.45M	20.84M	56.84M	39.78M	23.02M	13.69M
Short-Term Investments	1.03M	8.54M	7.97M	3.13M	1.89M	0	1.81M	1.13M	1.74M	1.21M
Accounts Receivable	0	0	0	0	2.66M	1.81M	3.71M	2.87M	2.51M	4.2M
Days Sales Outstanding	-	-	-	-	8.29	6.3	9.91	9.48	5.51	8.79
Inventory	14.97M	26.62M	31.95M	22.04M	38.38M	26.96M	15.79M	31.73M	19.94M	18.11M
Days Inventory Outstanding	152.78	273.43	237.92	83.71	129.66	74.71	40.3	104.39	49.04	46.05
Other Current Assets	12.56M	7.76M	21.36M	18.86M	2.61M	1.68M	6.88M	6.13M	5.44M	3.98M
Total Non-Current Assets+	420.64M	419.74M	505.26M	557.57M	550.36M	455.26M	449.66M	447.07M	606.89M	623.43M
Property, Plant & Equipment	253M	256.89M	344.48M	423.88M	418.79M	329.11M	342.3M	346.28M	169.95M	210.92M
Fixed Asset Turnover	0.29x	0.24x	0.20x	0.30x	0.28x	0.32x	0.40x	0.32x	0.98x	0.83x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	167.11M	162.32M	150.06M	127.81M	110.23M	111.92M	94.76M	93.45M	423.86M	400.8M
Other Non-Current Assets	531K	532K	10.72M	5.87M	10.22M	5.41M	3.25M	7.33M	10.77M	11.71M
Total Assets+	475.08M	498.32M	592.13M	616.94M	642.33M	508.76M	534.68M	528.72M	659.55M	664.62M
Asset Turnover	0.15x	0.12x	0.11x	0.21x	0.18x	0.21x	0.26x	0.21x	0.25x	0.26x
Asset Growth %	-0.09%	0.05%	0.19%	0.04%	0.04%	-0.21%	0.05%	-0.01%	0.25%	0.01%
Total Current Liabilities+	22.04M	20.58M	37.64M	36.01M	48.8M	45.55M	52.4M	84.19M	30M	47.69M
Accounts Payable	18.3M	19.87M	34.86M	30.79M	34.07M	36.05M	39.62M	42.52M	22.66M	28.45M
Days Payables Outstanding	186.74	204.09	259.6	116.93	115.11	99.9	101.1	139.87	55.7	72.34
Short-Term Debt	3.4M	0	0	0	12.12M	2.44M	5.61M	10M	1.76M	0
Deferred Revenue (Current)	-1000K	0	-1000K	-1000K	0	0	0	1000K	0	1000K
Other Current Liabilities	215K	537K	2.29M	3.68M	2.61M	7.06M	7.18M	16.63M	3.98M	10.44M
Current Ratio	2.47x	3.82x	2.31x	1.65x	1.88x	1.17x	1.62x	0.97x	1.76x	0.86x
Quick Ratio	1.79x	2.52x	1.46x	1.04x	1.10x	0.58x	1.32x	0.59x	1.09x	0.48x
Cash Conversion Cycle	-	-	-	-	22.84	-18.88	-50.89	-26	-1.15	-17.49
Total Non-Current Liabilities+	34.75M	34.7M	33.22M	94.98M	94.06M	97.88M	92.34M	88.26M	127.12M	121.95M
Long-Term Debt	0	0	0	49.21M	39.52M	48.16M	47.74M	53.98M	39.67M	40M
Capital Lease Obligations	0	0	81K	4.92M	5.02M	3.06M	2.64M	1.19M	819K	1.32M
Deferred Tax Liabilities	26.9M	23.66M	8.43M	6.43M	16.02M	12.64M	9.34M	155K	42.88M	36.63M
Other Non-Current Liabilities	34.75M	34.7M	9.06M	12.19M	33.5M	34.02M	32.62M	32.93M	43.76M	44M
Total Liabilities	56.79M	55.28M	70.86M	131M	142.85M	143.43M	144.74M	172.44M	157.13M	169.65M
Total Debt+	3.4M	0	551K	55.63M	56.65M	53.66M	55.99M	66.39M	42.25M	42.11M
Net Debt	-22.48M	-37.44M	-26.6M	39.88M	10.2M	32.81M	-851K	26.6M	19.23M	28.42M
Debt / Equity	0.01x	-	0.00x	0.11x	0.11x	0.15x	0.14x	0.19x	0.08x	0.09x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-1.98x	-	-	-	-	-	-	-	-
Interest Coverage	-20.52x	18.38x	-28.02x	-29.15x	-9.38x	-20.60x	-10.37x	-12.25x	-	-11.01x
Total Equity+	418.29M	443.04M	521.27M	485.95M	499.48M	365.33M	389.94M	356.27M	502.42M	494.98M
Equity Growth %	-0.05%	0.06%	0.18%	-0.07%	0.03%	-0.27%	0.07%	-0.09%	0.41%	-0.01%
Book Value per Share	13.93	14.74	16.61	14.41	13.80	9.05	8.57	7.51	10.57	9.70
Total Shareholders' Equity	418.29M	443.04M	521.27M	485.95M	499.48M	365.33M	375.16M	322.81M	502.42M	494.98M
Common Stock	1.36B	1.36B	1.44B	1.46B	1.53B	1.55B	1.62B	1.64B	1.77B	1.8B
Retained Earnings	-940.03M	-918.97M	-929.61M	-971.48M	-1.03B	-1.18B	-1.24B	-1.32B	-1.27B	-1.31B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-825K	1.67M	3M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	14.78M	33.47M	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	15.6M	25.19M	-15.43M	487K	-39.53M	-27.87M	-20.22M	-56.58M	-39.64M	29.45M
Operating CF Margin %	0.21%	0.42%	-0.23%	0%	-0.34%	-0.27%	-0.15%	-0.51%	-0.24%	0.17%
Operating CF Growth %	2.05%	0.61%	-1.61%	1.03%	-82.16%	0.29%	0.27%	-1.8%	0.3%	1.74%
Net Income	-20.45M	21.05M	-10.63M	-44.87M	-59.75M	-152.32M	-56.88M	-86.09M	33.18M	-43.69M
Depreciation & Amortization	2.23M	3.58M	6.58M	16.43M	25.54M	23.09M	25.55M	19.53M	0	0
Stock-Based Compensation	1.3M	1.04M	1.31M	269K	694K	612K	837K	340K	971K	3.24M
Deferred Taxes	-24.56M	-3.75M	-15.68M	-2.77M	-3.84M	-1.39M	-7.32M	-1.86M	37.02M	-6.98M
Other Non-Cash Items	61.85M	7.18M	15.88M	15.08M	8.04M	88.01M	8.7M	6.93M	-93.05M	64.63M
Working Capital Changes	-4.78M	-3.92M	-12.89M	16.36M	-10.21M	14.13M	8.89M	4.57M	-17.75M	12.25M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-1.88M	-10.11M	-34.47M	-69.34M	-14.06M	-11.77M	-24.56M	-23.9M	-99.64M	-58.05M
Capital Expenditures	-777K	-7.16M	-8.57M	-81.32M	-29.71M	-13.37M	-34.89M	-24.19M	-26.1M	-43.09M
CapEx % of Revenue	0.01%	0.12%	0.13%	0.63%	0.25%	0.13%	0.26%	0.22%	0.16%	0.25%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	13K	994K	33K	84K	8.88M	340K	10.32M	286K	-69.78M	164K
Cash from Financing+	123K	-3.23M	49.73M	60.44M	70.01M	17.58M	80.98M	65.45M	172.18M	19.2M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.5M	-2.99M	-3.06M	-3.37M	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.4M	3.73M	121K	-716K	544K	138K	32.42M	38.42M	185.39M	9K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	14.82M	18.03M	-24M	-80.83M	-69.23M	-41.25M	-55.11M	-80.77M	-65.74M	-13.64M
FCF Margin %	0.2%	0.3%	-0.35%	-0.63%	-0.59%	-0.39%	-0.4%	-0.73%	-0.4%	-0.08%
FCF Growth %	1.84%	0.22%	-2.33%	-2.37%	0.14%	0.4%	-0.34%	-0.47%	0.19%	0.79%
FCF per Share	0.49	0.60	-0.76	-2.40	-1.91	-1.02	-1.21	-1.70	-1.38	-0.27
FCF Conversion (FCF/Net Income)	-0.76x	1.20x	1.45x	-0.01x	0.66x	0.18x	0.36x	0.70x	-0.72x	-0.67x
Interest Paid	0	0	0	0	0	0	0	4.88M	4.73M	3.91M
Taxes Paid	0	0	0	0	0	0	0	24K	1.41M	712K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-4.76%	4.89%	-2.21%	-8.91%	-12.13%	-35.23%	-15.02%	-21.73%	12.88%	-8.76%
Return on Invested Capital (ROIC)	-8.97%	2.87%	-4.38%	-6.94%	-9.26%	-25.31%	-12.25%	-18.54%	-26.88%	-7.26%
Gross Margin	50.96%	41.16%	27.62%	24.9%	7.68%	-25.72%	-4.75%	-0.49%	10.7%	17.73%
Net Margin	-28.03%	34.87%	-15.7%	-34.83%	-51.06%	-145.36%	-41.53%	-73.43%	33.27%	-25.04%
Debt / Equity	0.01x	-	0.00x	0.11x	0.11x	0.15x	0.14x	0.19x	0.08x	0.09x
Interest Coverage	-20.52x	18.38x	-28.02x	-29.15x	-9.38x	-20.60x	-10.37x	-12.25x	-	-11.01x
FCF Conversion	-0.76x	1.20x	1.45x	-0.01x	0.66x	0.18x	0.36x	0.70x	-0.72x	-0.67x
Revenue Growth	61.04%	-17.23%	12.15%	90.22%	-9.16%	-10.45%	30.3%	-19.13%	50.55%	4.96%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
United States Reportable	-	-	-	30K	43.85M	48.88M	79.2M	47.93M	83.41M	105.15M
United States Reportable Growth	-	-	-	-	146056.67%	11.49%	62.03%	-39.49%	74.04%	26.06%
Canada Reportable	-	-	-	617K	50.06M	41.45M	50.7M	60.85M	81.3M	67.81M
Canada Reportable Growth	-	-	-	-	8013.13%	-17.19%	22.32%	20.01%	33.60%	-16.59%
Mexico Reportable	72.96M	60.39M	55.84M	66.15M	23.11M	14.45M	6.63M	1.64M	1.53M	1.52M
Mexico Reportable Growth	-	-17.23%	-7.52%	18.45%	-65.06%	-37.47%	-54.11%	-75.23%	-7.06%	-0.33%
Total	-	-	-	-	-	-	136.54M	110.42M	-	-
Total Growth	-	-	-	-	-	-	-	-19.13%	-	-
Reportables	-	60.39M	67.47M	647K	117.02M	104.79M	-	-	-	-
Reportables Growth	-	-	11.72%	-99.04%	17986.40%	-10.45%	-	-	-	-
Timmins Reportable	-	-	11.62M	-	-	-	-	-	-	-
Timmins Reportable Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	-	-	-	79.2M	47.93M	83.41M	105.15M
UNITED STATES Growth	-	-	-	-	-	-	-	-39.49%	74.04%	26.06%
CANADA	-	-	-	-	-	-	-	-	81.3M	67.81M
CANADA Growth	-	-	-	-	-	-	-	-	-	-16.59%
MEXICO	-	-	-	-	-	-	6.63M	1.64M	1.53M	1.52M
MEXICO Growth	-	-	-	-	-	-	-	-75.23%	-7.06%	-0.33%
Canada	-	-	-	-	-	-	50.7M	60.85M	-	-
Canada Growth	-	-	-	-	-	-	-	20.01%	-	-
U	-	-	-	30K	43.85M	48.88M	-	-	-	-
U Growth	-	-	-	-	146056.67%	11.49%	-	-	-	-
C	-	-	11.88M	62.64M	50.06M	41.45M	-	-	-	-
C Growth	-	-	-	427.33%	-20.09%	-17.19%	-	-	-	-
M	-	60.39M	55.84M	66.15M	23.11M	14.45M	-	-	-	-
M Growth	-	-	-7.52%	18.45%	-65.06%	-37.47%	-	-	-	-
Mexico Reportable	72.96M	-	-	-	-	-	-	-	-	-
Mexico Reportable Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

McEwen Mining Inc. (MUX) reported $166.5M in revenue for fiscal year 2024.

McEwen Mining Inc. (MUX) grew revenue by 5.0% over the past year. Growth has been modest.

McEwen Mining Inc. (MUX) reported a net loss of $11.9M for fiscal year 2024.

Dividend & Returns

McEwen Mining Inc. (MUX) has a return on equity (ROE) of -8.8%. Negative ROE indicates the company is unprofitable.

McEwen Mining Inc. (MUX) had negative free cash flow of $45.2M in fiscal year 2024, likely due to heavy capital investments.

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McEwen Mining Inc. (MUX) 10-Year Financial Performance & Capital Metrics

MUX • • Industrial / General

Basic MaterialsPrecious MetalsPrecious Metals Mining & ProductionGold-Focused Producers

Revenue $174M +5.0%
EBITDA -$20M +85.0%
Net Income -$44M -179.0%
EPS (Diluted) -0.86 -174.1%
Gross Margin 17.73% +65.8%
EBITDA Margin -11.3% +85.7%
Operating Margin -28.98% +70.3%
Net Margin -25.04% -175.3%
ROE -8.76% -168.0%
ROIC -7.26% +73.0%
Debt/Equity 0.09 +1.2%
Interest Coverage -11.01

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 92 (top 8%)

✗Weaknesses

✗Negative free cash flow
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y14.44%

5Y8.32%

3Y8.52%

TTM-16.62%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-111.58%

EPS CAGR

10Y-

5Y-

3Y-

TTM-110.65%

ROCE

10Y Avg-13.28%

5Y Avg-20.29%

3Y Avg-19.63%

Latest-8.11%

Peer Comparison

Gold-Focused Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PPTAPerpetua Resources Corp.	3.82B	31.32	142.36			-8.32%		0.00
NVANova Minerals Limited	343.53M	9.14	-3.97			-21.9%
MUXMcEwen Mining Inc.	1.32B	22.34	-25.98	4.96%	-7.16%	-2.44%		0.09
ITRGIntegra Resources Corp.	744.56M	4.10	-41		5.98%	9.63%		0.19
AUGOAura Minerals	5.09B	60.96	-145.14	42.52%	-5.55%	-13.28%	0.82%	1.73

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	72.96M	60.39M	67.72M	128.82M	117.02M	104.79M	136.54M	110.42M	166.23M	174.48M
Revenue Growth %	0.61%	-0.17%	0.12%	0.9%	-0.09%	-0.1%	0.3%	-0.19%	0.51%	0.05%
Cost of Goods Sold+	35.78M	35.53M	49.02M	96.09M	108.03M	131.74M	143.02M	110.96M	148.45M	143.54M
COGS % of Revenue	0.49%	0.59%	0.72%	0.75%	0.92%	1.26%	1.05%	1%	0.89%	0.82%
Gross Profit+	37.18M	24.85M	18.71M	32.08M	8.99M	-26.95M	-6.48M	-544K	17.78M	30.93M
Gross Margin %	0.51%	0.41%	0.28%	0.25%	0.08%	-0.26%	-0.05%	-0%	0.11%	0.18%
Gross Profit Growth %	11.97%	-0.33%	-0.25%	0.71%	-0.72%	-4%	0.76%	0.92%	33.68%	0.74%
Operating Expenses+	26.55M	22.46M	43.98M	62.61M	72.9M	126.23M	57.8M	94.89M	179.84M	81.51M
OpEx % of Revenue	0.36%	0.37%	0.65%	0.49%	0.62%	1.2%	0.42%	0.86%	1.08%	0.47%
Selling, General & Admin	12.04M	12.73M	12.34M	23.16M	12.79M	9.2M	11.44M	11.89M	15.45M	17.16M
SG&A % of Revenue	0.17%	0.21%	0.18%	0.18%	0.11%	0.09%	0.08%	0.11%	0.09%	0.1%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	61.33M	-3.23M	25.11M	39.44M	60.12M	117.03M	46.37M	83M	164.39M	64.34M
Operating Income+	-49.33M	15.35M	-26.29M	-47.19M	-63.91M	-153.17M	-64.28M	-95.44M	-162.06M	-50.57M
Operating Margin %	-0.68%	0.25%	-0.39%	-0.37%	-0.55%	-1.46%	-0.47%	-0.86%	-0.97%	-0.29%
Operating Income Growth %	0.88%	1.31%	-2.71%	-0.8%	-0.35%	-1.4%	0.58%	-0.48%	-0.7%	0.69%
EBITDA+	-47.1M	18.93M	-19.71M	-30.76M	-38.37M	-130.08M	-38.94M	-75.91M	-131.7M	-19.71M
EBITDA Margin %	-0.65%	0.31%	-0.29%	-0.24%	-0.33%	-1.24%	-0.29%	-0.69%	-0.79%	-0.11%
EBITDA Growth %	0.88%	1.4%	-2.04%	-0.56%	-0.25%	-2.39%	0.7%	-0.95%	-0.74%	0.85%
D&A (Non-Cash Add-back)	2.23M	3.58M	6.58M	16.43M	25.54M	23.09M	25.34M	19.53M	30.36M	30.86M
EBIT	10.63M	2.4M	-25.53M	-46.02M	-56.77M	-146.28M	-58M	-98.21M	-104.3M	-12.62M
Net Interest Income+	2.4M	835K	-938K	-1.62M	-6.82M	-7.43M	-6.2M	-7.79M	36.92M	-4.59M
Interest Income	0	0	0	0	0	0	0	0	36.92M	0
Interest Expense	2.4M	835K	938K	1.62M	6.82M	7.43M	6.2M	7.79M	0	4.59M
Other Income/Expense	4.32M	1.96M	283K	-451K	323K	-541K	81K	15.15M	229.1M	3.83M
Pretax Income+	-45.01M	17.31M	-26M	-47.64M	-63.59M	-153.72M	-64.2M	-80.29M	67.04M	-46.74M
Pretax Margin %	-0.62%	0.29%	-0.38%	-0.37%	-0.54%	-1.47%	-0.47%	-0.73%	0.4%	-0.27%
Income Tax+	-24.56M	-3.75M	-15.37M	-2.77M	-3.84M	-1.39M	-7.32M	5.81M	33.86M	-3.05M
Effective Tax Rate %	0.45%	1.22%	0.41%	0.94%	0.94%	0.99%	0.88%	1.01%	0.82%	0.93%
Net Income+	-20.45M	21.05M	-10.63M	-44.87M	-59.75M	-152.32M	-56.71M	-81.08M	55.3M	-43.69M
Net Margin %	-0.28%	0.35%	-0.16%	-0.35%	-0.51%	-1.45%	-0.42%	-0.73%	0.33%	-0.25%
Net Income Growth %	0.93%	2.03%	-1.51%	-3.22%	-0.33%	-1.55%	0.63%	-0.43%	1.68%	-1.79%
Net Income (Continuing)	-20.45M	21.05M	-10.63M	-44.87M	-59.75M	-152.32M	-56.88M	-86.09M	33.18M	-43.69M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	14.78M	33.47M	0	0
EPS (Diluted)+	-0.68	0.70	-0.34	-1.33	-1.65	-3.78	-1.25	-1.71	1.16	-0.86
EPS Growth %	0.94%	2.03%	-1.49%	-2.91%	-0.24%	-1.29%	0.67%	-0.37%	1.68%	-1.74%
EPS (Basic)	-0.70	0.70	-0.34	-1.33	-1.70	-3.78	-1.25	-1.71	1.16	-0.86
Diluted Shares Outstanding	30.03M	30.05M	31.39M	33.73M	36.19M	40.35M	45.49M	47.43M	47.54M	51.02M
Basic Shares Outstanding	29.21M	29.88M	31.39M	33.73M	35.15M	40.35M	45.49M	47.41M	47.54M	51.02M
Dividend Payout Ratio	-	0.14%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	54.44M	78.57M	86.86M	59.38M	91.98M	53.5M	85.03M	81.65M	52.66M	41.19M
Cash & Short-Term Investments	26.91M	45.98M	35.12M	18.89M	48.34M	20.84M	58.64M	40.91M	24.76M	14.9M
Cash Only	25.87M	37.44M	27.15M	15.76M	46.45M	20.84M	56.84M	39.78M	23.02M	13.69M
Short-Term Investments	1.03M	8.54M	7.97M	3.13M	1.89M	0	1.81M	1.13M	1.74M	1.21M
Accounts Receivable	0	0	0	0	2.66M	1.81M	3.71M	2.87M	2.51M	4.2M
Days Sales Outstanding	-	-	-	-	8.29	6.3	9.91	9.48	5.51	8.79
Inventory	14.97M	26.62M	31.95M	22.04M	38.38M	26.96M	15.79M	31.73M	19.94M	18.11M
Days Inventory Outstanding	152.78	273.43	237.92	83.71	129.66	74.71	40.3	104.39	49.04	46.05
Other Current Assets	12.56M	7.76M	21.36M	18.86M	2.61M	1.68M	6.88M	6.13M	5.44M	3.98M
Total Non-Current Assets+	420.64M	419.74M	505.26M	557.57M	550.36M	455.26M	449.66M	447.07M	606.89M	623.43M
Property, Plant & Equipment	253M	256.89M	344.48M	423.88M	418.79M	329.11M	342.3M	346.28M	169.95M	210.92M
Fixed Asset Turnover	0.29x	0.24x	0.20x	0.30x	0.28x	0.32x	0.40x	0.32x	0.98x	0.83x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	167.11M	162.32M	150.06M	127.81M	110.23M	111.92M	94.76M	93.45M	423.86M	400.8M
Other Non-Current Assets	531K	532K	10.72M	5.87M	10.22M	5.41M	3.25M	7.33M	10.77M	11.71M
Total Assets+	475.08M	498.32M	592.13M	616.94M	642.33M	508.76M	534.68M	528.72M	659.55M	664.62M
Asset Turnover	0.15x	0.12x	0.11x	0.21x	0.18x	0.21x	0.26x	0.21x	0.25x	0.26x
Asset Growth %	-0.09%	0.05%	0.19%	0.04%	0.04%	-0.21%	0.05%	-0.01%	0.25%	0.01%
Total Current Liabilities+	22.04M	20.58M	37.64M	36.01M	48.8M	45.55M	52.4M	84.19M	30M	47.69M
Accounts Payable	18.3M	19.87M	34.86M	30.79M	34.07M	36.05M	39.62M	42.52M	22.66M	28.45M
Days Payables Outstanding	186.74	204.09	259.6	116.93	115.11	99.9	101.1	139.87	55.7	72.34
Short-Term Debt	3.4M	0	0	0	12.12M	2.44M	5.61M	10M	1.76M	0
Deferred Revenue (Current)	-1000K	0	-1000K	-1000K	0	0	0	1000K	0	1000K
Other Current Liabilities	215K	537K	2.29M	3.68M	2.61M	7.06M	7.18M	16.63M	3.98M	10.44M
Current Ratio	2.47x	3.82x	2.31x	1.65x	1.88x	1.17x	1.62x	0.97x	1.76x	0.86x
Quick Ratio	1.79x	2.52x	1.46x	1.04x	1.10x	0.58x	1.32x	0.59x	1.09x	0.48x
Cash Conversion Cycle	-	-	-	-	22.84	-18.88	-50.89	-26	-1.15	-17.49
Total Non-Current Liabilities+	34.75M	34.7M	33.22M	94.98M	94.06M	97.88M	92.34M	88.26M	127.12M	121.95M
Long-Term Debt	0	0	0	49.21M	39.52M	48.16M	47.74M	53.98M	39.67M	40M
Capital Lease Obligations	0	0	81K	4.92M	5.02M	3.06M	2.64M	1.19M	819K	1.32M
Deferred Tax Liabilities	26.9M	23.66M	8.43M	6.43M	16.02M	12.64M	9.34M	155K	42.88M	36.63M
Other Non-Current Liabilities	34.75M	34.7M	9.06M	12.19M	33.5M	34.02M	32.62M	32.93M	43.76M	44M
Total Liabilities	56.79M	55.28M	70.86M	131M	142.85M	143.43M	144.74M	172.44M	157.13M	169.65M
Total Debt+	3.4M	0	551K	55.63M	56.65M	53.66M	55.99M	66.39M	42.25M	42.11M
Net Debt	-22.48M	-37.44M	-26.6M	39.88M	10.2M	32.81M	-851K	26.6M	19.23M	28.42M
Debt / Equity	0.01x	-	0.00x	0.11x	0.11x	0.15x	0.14x	0.19x	0.08x	0.09x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-1.98x	-	-	-	-	-	-	-	-
Interest Coverage	-20.52x	18.38x	-28.02x	-29.15x	-9.38x	-20.60x	-10.37x	-12.25x	-	-11.01x
Total Equity+	418.29M	443.04M	521.27M	485.95M	499.48M	365.33M	389.94M	356.27M	502.42M	494.98M
Equity Growth %	-0.05%	0.06%	0.18%	-0.07%	0.03%	-0.27%	0.07%	-0.09%	0.41%	-0.01%
Book Value per Share	13.93	14.74	16.61	14.41	13.80	9.05	8.57	7.51	10.57	9.70
Total Shareholders' Equity	418.29M	443.04M	521.27M	485.95M	499.48M	365.33M	375.16M	322.81M	502.42M	494.98M
Common Stock	1.36B	1.36B	1.44B	1.46B	1.53B	1.55B	1.62B	1.64B	1.77B	1.8B
Retained Earnings	-940.03M	-918.97M	-929.61M	-971.48M	-1.03B	-1.18B	-1.24B	-1.32B	-1.27B	-1.31B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-825K	1.67M	3M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	14.78M	33.47M	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	15.6M	25.19M	-15.43M	487K	-39.53M	-27.87M	-20.22M	-56.58M	-39.64M	29.45M
Operating CF Margin %	0.21%	0.42%	-0.23%	0%	-0.34%	-0.27%	-0.15%	-0.51%	-0.24%	0.17%
Operating CF Growth %	2.05%	0.61%	-1.61%	1.03%	-82.16%	0.29%	0.27%	-1.8%	0.3%	1.74%
Net Income	-20.45M	21.05M	-10.63M	-44.87M	-59.75M	-152.32M	-56.88M	-86.09M	33.18M	-43.69M
Depreciation & Amortization	2.23M	3.58M	6.58M	16.43M	25.54M	23.09M	25.55M	19.53M	0	0
Stock-Based Compensation	1.3M	1.04M	1.31M	269K	694K	612K	837K	340K	971K	3.24M
Deferred Taxes	-24.56M	-3.75M	-15.68M	-2.77M	-3.84M	-1.39M	-7.32M	-1.86M	37.02M	-6.98M
Other Non-Cash Items	61.85M	7.18M	15.88M	15.08M	8.04M	88.01M	8.7M	6.93M	-93.05M	64.63M
Working Capital Changes	-4.78M	-3.92M	-12.89M	16.36M	-10.21M	14.13M	8.89M	4.57M	-17.75M	12.25M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-1.88M	-10.11M	-34.47M	-69.34M	-14.06M	-11.77M	-24.56M	-23.9M	-99.64M	-58.05M
Capital Expenditures	-777K	-7.16M	-8.57M	-81.32M	-29.71M	-13.37M	-34.89M	-24.19M	-26.1M	-43.09M
CapEx % of Revenue	0.01%	0.12%	0.13%	0.63%	0.25%	0.13%	0.26%	0.22%	0.16%	0.25%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	13K	994K	33K	84K	8.88M	340K	10.32M	286K	-69.78M	164K
Cash from Financing+	123K	-3.23M	49.73M	60.44M	70.01M	17.58M	80.98M	65.45M	172.18M	19.2M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.5M	-2.99M	-3.06M	-3.37M	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.4M	3.73M	121K	-716K	544K	138K	32.42M	38.42M	185.39M	9K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	14.82M	18.03M	-24M	-80.83M	-69.23M	-41.25M	-55.11M	-80.77M	-65.74M	-13.64M
FCF Margin %	0.2%	0.3%	-0.35%	-0.63%	-0.59%	-0.39%	-0.4%	-0.73%	-0.4%	-0.08%
FCF Growth %	1.84%	0.22%	-2.33%	-2.37%	0.14%	0.4%	-0.34%	-0.47%	0.19%	0.79%
FCF per Share	0.49	0.60	-0.76	-2.40	-1.91	-1.02	-1.21	-1.70	-1.38	-0.27
FCF Conversion (FCF/Net Income)	-0.76x	1.20x	1.45x	-0.01x	0.66x	0.18x	0.36x	0.70x	-0.72x	-0.67x
Interest Paid	0	0	0	0	0	0	0	4.88M	4.73M	3.91M
Taxes Paid	0	0	0	0	0	0	0	24K	1.41M	712K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-4.76%	4.89%	-2.21%	-8.91%	-12.13%	-35.23%	-15.02%	-21.73%	12.88%	-8.76%
Return on Invested Capital (ROIC)	-8.97%	2.87%	-4.38%	-6.94%	-9.26%	-25.31%	-12.25%	-18.54%	-26.88%	-7.26%
Gross Margin	50.96%	41.16%	27.62%	24.9%	7.68%	-25.72%	-4.75%	-0.49%	10.7%	17.73%
Net Margin	-28.03%	34.87%	-15.7%	-34.83%	-51.06%	-145.36%	-41.53%	-73.43%	33.27%	-25.04%
Debt / Equity	0.01x	-	0.00x	0.11x	0.11x	0.15x	0.14x	0.19x	0.08x	0.09x
Interest Coverage	-20.52x	18.38x	-28.02x	-29.15x	-9.38x	-20.60x	-10.37x	-12.25x	-	-11.01x
FCF Conversion	-0.76x	1.20x	1.45x	-0.01x	0.66x	0.18x	0.36x	0.70x	-0.72x	-0.67x
Revenue Growth	61.04%	-17.23%	12.15%	90.22%	-9.16%	-10.45%	30.3%	-19.13%	50.55%	4.96%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
United States Reportable	-	-	-	30K	43.85M	48.88M	79.2M	47.93M	83.41M	105.15M
United States Reportable Growth	-	-	-	-	146056.67%	11.49%	62.03%	-39.49%	74.04%	26.06%
Canada Reportable	-	-	-	617K	50.06M	41.45M	50.7M	60.85M	81.3M	67.81M
Canada Reportable Growth	-	-	-	-	8013.13%	-17.19%	22.32%	20.01%	33.60%	-16.59%
Mexico Reportable	72.96M	60.39M	55.84M	66.15M	23.11M	14.45M	6.63M	1.64M	1.53M	1.52M
Mexico Reportable Growth	-	-17.23%	-7.52%	18.45%	-65.06%	-37.47%	-54.11%	-75.23%	-7.06%	-0.33%
Total	-	-	-	-	-	-	136.54M	110.42M	-	-
Total Growth	-	-	-	-	-	-	-	-19.13%	-	-
Reportables	-	60.39M	67.47M	647K	117.02M	104.79M	-	-	-	-
Reportables Growth	-	-	11.72%	-99.04%	17986.40%	-10.45%	-	-	-	-
Timmins Reportable	-	-	11.62M	-	-	-	-	-	-	-
Timmins Reportable Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	-	-	-	79.2M	47.93M	83.41M	105.15M
UNITED STATES Growth	-	-	-	-	-	-	-	-39.49%	74.04%	26.06%
CANADA	-	-	-	-	-	-	-	-	81.3M	67.81M
CANADA Growth	-	-	-	-	-	-	-	-	-	-16.59%
MEXICO	-	-	-	-	-	-	6.63M	1.64M	1.53M	1.52M
MEXICO Growth	-	-	-	-	-	-	-	-75.23%	-7.06%	-0.33%
Canada	-	-	-	-	-	-	50.7M	60.85M	-	-
Canada Growth	-	-	-	-	-	-	-	20.01%	-	-
U	-	-	-	30K	43.85M	48.88M	-	-	-	-
U Growth	-	-	-	-	146056.67%	11.49%	-	-	-	-
C	-	-	11.88M	62.64M	50.06M	41.45M	-	-	-	-
C Growth	-	-	-	427.33%	-20.09%	-17.19%	-	-	-	-
M	-	60.39M	55.84M	66.15M	23.11M	14.45M	-	-	-	-
M Growth	-	-	-7.52%	18.45%	-65.06%	-37.47%	-	-	-	-
Mexico Reportable	72.96M	-	-	-	-	-	-	-	-	-
Mexico Reportable Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

McEwen Mining Inc. (MUX) reported $166.5M in revenue for fiscal year 2024.

McEwen Mining Inc. (MUX) grew revenue by 5.0% over the past year. Growth has been modest.

McEwen Mining Inc. (MUX) reported a net loss of $11.9M for fiscal year 2024.

Dividend & Returns

McEwen Mining Inc. (MUX) has a return on equity (ROE) of -8.8%. Negative ROE indicates the company is unprofitable.

McEwen Mining Inc. (MUX) had negative free cash flow of $45.2M in fiscal year 2024, likely due to heavy capital investments.