McEwen Mining Inc.

DB:US8 Stock Report

Market Cap: €425.9m

McEwen Mining Valuation

Is US8 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of US8 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: US8 (€8.2) is trading below our estimate of fair value (€14.71)

Significantly Below Fair Value: US8 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for US8?

Key metric: As US8 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for US8. This is calculated by dividing US8's market cap by their current earnings.
What is US8's PE Ratio?
PE Ratio4.3x
EarningsUS$102.99m
Market CapUS$443.51m

Price to Earnings Ratio vs Peers

How does US8's PE Ratio compare to its peers?

The above table shows the PE ratio for US8 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.3x
EIS Eisen- und Hüttenwerke
18.5xn/a€202.4m
SIM0 SIMONA
11.5xn/a€357.0m
ACT AlzChem Group
12.1x12.6%€606.5m
STO3 Sto SE KGaA
11x3.5%€723.6m
US8 McEwen Mining
4.3x-106.9%€443.5m

Price-To-Earnings vs Peers: US8 is good value based on its Price-To-Earnings Ratio (4.3x) compared to the peer average (13.3x).

Price to Earnings Ratio vs Industry

How does US8's PE Ratio compare vs other companies in the European Metals and Mining Industry?

15 CompaniesPrice / EarningsEstimated GrowthMarket Cap
US8 4.3xIndustry Avg. 12.1xNo. of Companies15PE0816243240+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: US8 is good value based on its Price-To-Earnings Ratio (4.3x) compared to the European Metals and Mining industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is US8's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

US8 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.3x
Fair PE Ratio1.7x

Price-To-Earnings vs Fair Ratio: US8 is expensive based on its Price-To-Earnings Ratio (4.3x) compared to the estimated Fair Price-To-Earnings Ratio (1.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst US8 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€8.20
€13.37
+63.1%
19.5%€17.60€11.11n/a4
Nov ’25€8.70
€12.36
+42.1%
9.1%€13.67€10.94n/a4
Oct ’25€8.30
€12.25
+47.6%
10.4%€13.74€10.99n/a4
Sep ’25€8.25
€12.25
+48.5%
10.4%€13.74€10.99n/a4
Aug ’25€8.40
€12.48
+48.6%
10.4%€14.00€11.20n/a4
Jul ’25€8.45
€12.48
+47.7%
10.4%€14.00€11.20n/a4
Jun ’25€11.10
€12.18
+9.8%
9.5%€13.92€11.14n/a4
May ’25€11.40
€11.08
-2.8%
12.0%€12.59€9.33n/a4
Apr ’25€9.05
€10.82
+19.6%
11.1%€11.97€9.21n/a4
Mar ’25€5.95
€12.11
+103.6%
25.0%€17.07€9.23n/a4
Feb ’25€5.90
€12.69
+115.1%
21.7%€17.31€10.29n/a4
Jan ’25€6.60
€12.69
+92.3%
21.7%€17.31€10.29n/a4
Dec ’24€7.00
€12.69
+81.3%
21.7%€17.31€10.29n/a4
Nov ’24€6.55
€13.54
+106.8%
25.2%€19.40€11.12€8.704
Oct ’24€6.30
€12.05
+91.2%
25.7%€17.36€9.82€8.304
Sep ’24€7.45
€12.05
+61.7%
25.7%€17.36€9.82€8.254
Aug ’24€7.85
€11.89
+51.5%
24.3%€16.84€9.79€8.404
Jul ’24€6.50
€11.89
+82.9%
24.3%€16.84€9.79€8.454
Jun ’24€7.15
€11.78
+64.8%
24.9%€16.85€9.79€11.104
May ’24€7.40
€9.69
+30.9%
5.9%€10.09€8.71€11.404
Apr ’24€8.00
€9.95
+24.4%
5.9%€10.36€8.95€9.054
Mar ’24€6.40
€9.60
+50.1%
5.3%€10.37€8.96€5.954
Feb ’24€6.15
€9.50
+54.5%
3.5%€9.98€9.03€5.904
Jan ’24€5.45
€9.44
+73.1%
3.5%€9.91€8.96€6.604
Dec ’23€5.20
€9.68
+86.1%
5.7%€10.42€8.93€7.004
Nov ’23€3.68
€10.53
+186.2%
17.6%€13.64€8.77€6.554

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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