The massive EPS and revenue beat, combined with maintained guidance and strong gold prices, is fundamentally bullish. Traders should watch for a potential gap-up at open but be prepared for profit-taking. Key catalysts ahead: Stock mine initial production in H2 2026, Grey Fox PFS release, and McEwen Copper FID by year-end.
Price Chart
Executive Summary
McEwen Inc. reported Q1 2026 EPS of $0.70, crushing the $0.39 consensus by 79.5%, on revenue of $74.0M (+107% YoY), well above the $67.3M estimate. The beat was driven by a 71% surge in realized gold prices and a 26% increase in GEO sales.
Key Financial Metrics
Key Facts
- Q1 2026 EPS of $0.70 vs consensus $0.39 (+79.5% beat)
- Revenue $74.0M vs consensus $67.3M (+10% beat, +107% YoY)
- Net income $33.4M vs net loss of $6.3M in Q1 2025
- Gross profit $31.5M vs $10.1M in Q1 2025; gross margins expanded sharply
- Adjusted EBITDA $44.8M ($0.76/share) vs $8.7M ($0.16/share) in Q1 2025
- Full-year 2026 production guidance maintained at 114,000-126,000 GEOs; cost guidance unchanged
- Cash and equivalents $56.5M, up from $51.0M at Dec 31, 2025
- Debt principal unchanged at $130.0M; 59.2M shares outstanding (up from 55.5M due to Canadian Gold Corp acquisition)
- San José mine produced 14,582 GEOs (+33% YoY); $8.8M dividend received in Q1
- Gold Bar produced 7,884 GEOs; Fox Complex 5,784 GEOs; both on track for 2026 guidance
- McEwen Copper (46.3% stake) advancing Los Azules toward Final Investment Decision by year-end 2026
- Two contractor fatalities in April 2026 at Los Azules and Gold Bar mines
Financial Impact
EPS beat of $0.31 vs consensus (+79.5%); revenue beat of $6.7M (+10%); net income swing of $39.7M YoY from loss to profit
Risk Factors
- Two fatalities in April 2026 could lead to operational disruptions or regulatory scrutiny
- Gold Bar costs elevated due to lower mined grades and non-mineralized material; execution risk on cost guidance
- Share count increased 6.7% from Dec 2025 due to Canadian Gold Corp acquisition, diluting EPS growth
- McEwen Copper FID and financing risk; $13.6M loaned to McEwen Copper as of March 31, 2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3289548 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 13d ago | 8-K | $15.60 $15.84 | ▲ +1.54% | ▲ +1.08% | $14.59 (−6.47%) |
Aug 24, 2026 9w ago | Press Release | $21.45 $19.15 | ▼ −10.72% | ▼ −10.18% | $14.59 (−31.98%) |
Aug 5, 2026 11w ago | Press Release | $18.26 $18.58 | ▲ +1.75% | ▲ +0.54% | $14.59 (−20.10%) |
Aug 4, 2026 11w ago | Press Release | $19.71 $19.15 | ▼ −2.84% | ▼ −3.19% | $14.59 (−25.98%) |
Jun 26, 2026 17w ago | Press Release | $17.94 $18.84 | ▲ +5.02% | ▲ +3.63% | $14.59 (−18.67%) |
Jun 8, 2026 20w ago | Press Release | $18.39 $20.10 | ▲ +9.30% | ▲ +7.19% | $14.59 (−20.66%) |
Jun 2, 2026 20w ago | 8-K / DEFA14A | $20.85 $17.29 | ▼ −17.07% | ▼ −13.25% | $14.59 (−30.02%) |
May 22, 2026 22w ago | 8-K | $22.02 $22.31 | ▲ +1.32% | ▲ +0.10% | $14.59 (−33.74%) |
May 14, 2026 23w ago | Press Release | $22.81 $21.14 | ▼ −7.32% | ▼ −8.28% | $14.59 (−36.04%) |
May 8, 2026 24w ago | 8-K | $24.23 $24.85 | ▲ +2.56% | ▲ +1.10% | $14.59 (−39.79%) |
US Market Status
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