AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
McEwen's Q2/26 revenue rose 27% YoY to $59.2M on higher gold prices, driving net income to $9.6M, while Gold Bar Mine Complex cut annual production guidance after a lab shutdown and geologic surprises.
Biggest Revenue Drivers
Fox Complex$28.9M+51% YoY
Driven by a 35% increase in the average realized gold price and a 14% increase in GEOs sold
Gold Bar Mine Complex$26.0M-5% YoY
30% decrease in GEOs sold from lower production, offset by a higher average realized price
Biggest Revenue Drivers
Total revenue: $59.2M+27% YoY
Fox Complex$28.9M+51% YoY
Driven by a 35% increase in the average realized gold price and a 14% increase in GEOs sold
Gold Bar Mine Complex$26.0M-5% YoY
30% decrease in GEOs sold from lower production, offset by a higher average realized price
El Gallo$4.4M
First revenue from the segment; no comparable sales in Q2/25
Largest Expense Items
Production costs applicable to sales$31.1M
Higher fuel costs and consumption, plus alternative assay and temporary building/generator rental costs from a lab shutdown at Gold Bar
Exploration$11.4M
Expanded drilling and technical study activities across the Company's development assets
General and administrative$7.9M+$2.9M YoY
Increase primarily attributable to a $2.6 million rise in fees paid for professional services
Advanced projects$3.4M+$2.5M YoY
Grey Fox study costs and $2.3M increase at El Gallo for crushing and metallurgical testing
Margins: Gross profit rose to $20.1M in Q2/26 from $12.3M in Q2/25, primarily driven by a 35% increase in the average realized gold price during the quarter.
Watch Items from the Filing
Gold Bar Mine Complex downgraded annual production guidance to 30,000-33,000 GEOs after a one-month assay lab shutdown and unreconciled high-carbonaceous mining zones.
Fox Complex raised annual guidance to 20,000-23,000 GEOs from 16,000-19,000 GEOs on strong Froome West performance.
Company received $58.2M in MSC dividends in H1/26 (vs $2.2M in H1/25), but does not control MSC (49%) or McEwen Copper (46.3%) operations, which are exposed to Argentine peso depreciation (-6.8% in Q2/26) and inflation.
$110M convertible notes due 2030 and $20M term loan outstanding, with $6.0M now classified as current portion of long-term debt.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Asterbadi Dalia NadineDirectorGrant or award · Mar 19, 2026
About McEwen Inc. (MUX): stock profile, AI score and financials
McEwen Inc. (MUX) stock profile, AI quality score, and SEC EDGAR financial data, a Materials sector company. 13F Pro's AI-powered ranking engine scores MUX at 55.5/100 on a composite quality score built from its SEC filings, placing it at rank #1,235 of 2,925 stocks — the top half of the AI-ranked universe. MUX scores in the top quartile across profitability (79.8). Areas of concern include free cash flow (26.5) and revenue scale (26.7), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), McEwen Inc. reports quarterly revenue of $59.2M, net income of $9.6M, an operating margin of 13.0%. Top institutional holders of MUX by reported 13-F value include BlackRock, STATE STREET, MIRAE ASSET GLOBAL ETFS Ltd., based on the most recent SEC filings. MUX trades on the NYSE exchange and files with the SEC under CIK 314203. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MUX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for McEwen Inc. directly from SEC EDGAR.