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Mcewen Mining Inc (MUX)
NYSE:MUX
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.09Last Year’s EPS
$2.88Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -13.64%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
The earnings call exhibited strong revenue and profit growth and strategic investments positioning for future success, particularly with McEwen Copper. However, challenges remain with current net losses, cost management, and production issues at certain sites. The sentiment is cautiously optimistic with clear upsides anticipated from strategic projects.Company Guidance
During McEwen Mining's Q3 2024 earnings call, Robert McEwen highlighted significant advancements with impressive metrics compared to Q3 2023, including a 36% increase in revenue, a 268% rise in gross profit, and a 586% boost in adjusted EBITDA. Operating cash flow improved markedly to $23 million from a negative $2.3 million the previous year. The company's safety record was also commendable, with Gold Bar achieving 54 months without a lost time accident, Fox Complex 33 months, and McEwen Copper's Los Azules project reaching 1.3 million man-hours without incidents. Exploration expenditures amounted to $5.3 million at the Fox and Gold Bar mines and $6.1 million at Los Azules, contributing to a net loss of $2.1 million or $0.04 per share. Notably, McEwen Copper raised $56 million privately for Los Azules, aiming to complete the feasibility study and environmental permit by the first half of 2025, signaling plans for an IPO. The company has privately raised over $470 million for Los Azules, with the latest financing implying a market value of $984 million for McEwen Mining.Significant Revenue and Profit Growth
Revenue increased by 36%, gross profit up by 268%, and adjusted EBITDA rose by 586% compared to Q3 2023. Operating cash flow improved to $23 million from a negative $2.3 million the previous year.
Strong Safety Record
Achieved 54 months without a lost time accident at Gold Bar, 33 months at the Fox Complex, and 1.3 million man-hours at McEwen Copper Los Azules without a lost time accident.
Strategic Investments and Acquisitions
Invested $5.3 million in exploration at Fox and Gold Bar mines, and $6.1 million at Los Azules. Acquired Timberline Resources in Nevada to extend the life of Gold Bar mine.
Progress in McEwen Copper
Raised $56 million last quarter for Los Azules, completed several technical studies for feasibility, and planning an IPO for McEwen Copper post-feasibility study and environmental permits.
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MUX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MUX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $9.09 | $9.27 | +1.98% |
| Aug 08, 2024 | $8.19 | $8.34 | +1.83% |
| May 09, 2024 | $10.32 | $10.28 | -0.39% |
| Mar 01, 2024 | $6.14 | $6.85 | +11.56% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mcewen Mining Inc (MUX) report earnings?
Mcewen Mining Inc (MUX) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Mcewen Mining Inc (MUX) earnings time?
Mcewen Mining Inc (MUX) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MUX EPS forecast?
MUX EPS forecast for the fiscal quarter 2024 (Q4) is -$0.09.
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