NYSE:MUX

Stock Analysis Report

Executive Summary

McEwen Mining Inc. engages in the exploration, development, production, and sale of gold and silver.

Snowflake

Fundamentals

High growth potential with imperfect balance sheet.

Share Price & News

How has McEwen Mining's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MUX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.2%

MUX

-1.0%

US Metals and Mining

0.2%

US Market


1 Year Return

-8.4%

MUX

-2.2%

US Metals and Mining

12.2%

US Market

Return vs Industry: MUX underperformed the US Metals and Mining industry which returned -2.2% over the past year.

Return vs Market: MUX underperformed the US Market which returned 12.2% over the past year.


Shareholder returns

MUXIndustryMarket
7 Day-1.2%-1.0%0.2%
30 Day10.1%6.1%3.5%
90 Day-6.3%9.1%6.3%
1 Year-8.1%-8.4%0.8%-2.2%14.7%12.2%
3 Year-41.4%-42.0%3.2%-2.1%47.8%38.3%
5 Year9.7%7.9%6.8%-1.6%62.1%44.1%

Price Volatility Vs. Market

How volatile is McEwen Mining's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is McEwen Mining undervalued compared to its fair value and its price relative to the market?

1.24x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: MUX ($1.64) is trading above our estimate of fair value ($0.06)

Significantly Below Fair Value: MUX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MUX is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.

PE vs Market: MUX is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MUX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MUX is good value based on its PB Ratio (1.2x) compared to the US Metals and Mining industry average (1.5x).


Next Steps

Future Growth

How is McEwen Mining forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

122.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MUX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.7%).

Earnings vs Market: MUX is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: MUX's is expected to become profitable in the next 3 years.

Revenue vs Market: MUX's revenue (32% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: MUX's revenue (32% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MUX's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has McEwen Mining performed over the past 5 years?

51.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MUX has high quality earnings.

Growing Profit Margin: MUX's current net profit margins (-49.8%) are lower than last year (-17.2%).


Past Earnings Growth Analysis

Earnings Trend: MUX is unprofitable, but has reduced losses over the past 5 years at a rate of 51.6% per year.

Accelerating Growth: Unable to compare MUX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MUX is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-7.6%).


Return on Equity

High ROE: MUX has a negative Return on Equity (-11.64%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is McEwen Mining's financial position?


Financial Position Analysis

Short Term Liabilities: MUX's short term assets ($56.9M) exceeds its short term liabilities ($40.4M)

Long Term Liabilities: MUX's short term assets (56.9M) do not cover its long term liabilities (89.1M)


Debt to Equity History and Analysis

Debt Level: MUX's debt to equity ratio (10.3%) is considered satisfactory

Reducing Debt: Insufficient data to determine if MUX's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: MUX has a high level of physical assets or inventory.

Debt Coverage by Assets: MUX's debt is covered by short term assets (assets are 1.2x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MUX has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: MUX has less than a year of cash runway if free cash flow continues to reduce at historical rates of -83.9% each year


Next Steps

Dividend

What is McEwen Mining's current dividend yield, its reliability and sustainability?

0.30%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.6%industryaverage2.5%forecastin3Years0.3%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate MUX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MUX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MUX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MUX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MUX is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MUX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of McEwen Mining's salary, the management and board of directors tenure and is there insider trading?

2.6yrs

Average management tenure


CEO

Rob McEwen (69yo)

14.3yrs

Tenure

US$3,558

Compensation

Mr. Robert Ross McEwen, also known as Rob, was the Chief Owner of McEwen Mining Inc. and has been its Chief Executive Officer since August 18, 2005 and served as its President since February 22, 2018. Mr.  ...


CEO Compensation Analysis

Compensation vs Market: Rob's total compensation ($USD3.56K) is below average for companies of similar size in the US market ($USD1.73M).

Compensation vs Earnings: Rob's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

2.6yrs

Average Tenure

52.5yo

Average Age

Experienced Management: MUX's management team is considered experienced (2.6 years average tenure).


Board Age and Tenure

7.8yrs

Average Tenure

67yo

Average Age

Experienced Board: MUX's board of directors are considered experienced (7.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$5,81113 Jun 19
Richard Brissenden
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares4,000
Max PriceUS$1.45
SellUS$37,17415 May 19
Richard Brissenden
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares26,000
Max PriceUS$1.43

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.6%.


Management Team

  • Rob McEwen (69yo)

    Chairman & CEO

    • Tenure: 14.3yrs
    • Compensation: US$3.56k
  • Stefan Spears (37yo)

    Vice President of Corporate Development

    • Tenure: 0.3yrs
    • Compensation: US$663.36k
  • Sylvain Guérard (55yo)

    Senior Vice President of Exploration

    • Tenure: 2.6yrs
    • Compensation: US$211.26k
  • Meri Verli

    Chief Financial Officer

    • Tenure: 0.5yrs
  • Chris Stewart (50yo)

    President & COO

    • Tenure: 1.3yrs
    • Compensation: US$536.60k
  • Ken Tylee

    Exploration Manager

    • Tenure: 0yrs
  • Mihaela Iancu

    Head of Investor Relations

    • Tenure: 0yrs
  • Carmen Diges (48yo)

    General Counsel & Secretary

    • Tenure: 4.3yrs
  • Donald Brown (61yo)

    Technical Consultant

    • Tenure: 3.3yrs
    • Compensation: US$240.00k
  • Robert Kastelic

    Chief Exploration Geologist of Nevada

    • Tenure: 0yrs

Board Members

  • Greg Fauquier (68yo)

    Independent Director

    • Tenure: 5.5yrs
    • Compensation: US$45.00k
  • Rob McEwen (69yo)

    Chairman & CEO

    • Tenure: 14.3yrs
    • Compensation: US$3.56k
  • Allen Ambrose (62yo)

    Independent Director

    • Tenure: 7.6yrs
    • Compensation: US$45.00k
  • Michael Stein (68yo)

    Independent Director

    • Tenure: 7.8yrs
    • Compensation: US$42.00k
  • Donald R. Quick (67yo)

    Director

    • Tenure: 7.8yrs
    • Compensation: US$40.00k
  • Robin Dunbar (60yo)

    Independent Director

    • Tenure: 2.6yrs
    • Compensation: US$40.00k
  • Richard Brissenden (74yo)

    Independent Director

    • Tenure: 7.6yrs
    • Compensation: US$50.00k
  • Leanne Baker (67yo)

    Independent Director

    • Tenure: 14.8yrs
    • Compensation: US$42.00k
  • Michele Ashby (63yo)

    Independent Director

    • Tenure: 14.8yrs
    • Compensation: US$45.00k

Company Information

McEwen Mining Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: McEwen Mining Inc.
  • Ticker: MUX
  • Exchange: NYSE
  • Founded: 1979
  • Industry: Gold
  • Sector: Materials
  • Market Cap: US$598.172m
  • Shares outstanding: 362.53m
  • Website: https://www.mcewenmining.com

Number of Employees


Location

  • McEwen Mining Inc.
  • 150 King Street West
  • Suite 2800
  • Toronto
  • Ontario
  • M5H 1J9
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MUXNYSE (New York Stock Exchange)YesCommon StockUSUSDMay 1980
US8ADB (Deutsche Boerse AG)YesCommon StockDEEURMay 1980
MUXTSX (The Toronto Stock Exchange)YesCommon StockCACADMay 1980
MUX *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNMay 1980
0JZTLSE (London Stock Exchange)YesCommon StockGBUSDMay 1980
MUXWBAG (Wiener Boerse AG)YesCommon StockATEURMay 1980

Biography

McEwen Mining Inc. engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/14 23:44
End of Day Share Price2019/11/14 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.