McEwen Inc. reported significant financial improvements in its latest quarterly results, with revenues from gold and silver sales reaching $59.2 million for the second quarter of 2026, a 27% increase from $46.7 million in the same period last year. For the first half of 2026, total revenues surged to $133.3 million, up 62% from $82.4 million in the first half of 2025. The company achieved a gross profit of $20.1 million in Q2/26, compared to $12.3 million in Q2/25, driven by a 35% increase in average realized prices per gold equivalent ounce (GEO) sold, which rose to $4,454 from $3,298.
Net income for the second quarter was $9.6 million, or $0.16 per share, a notable increase from $3.0 million, or $0.06 per share, in Q2/25. This improvement was attributed to a $7.8 million increase in gross profit and a $15 million rise in income from equity method investments, despite a $8.5 million increase in other operating expenses. For the first half of 2026, net income totaled $42.9 million, compared to a loss of $3.2 million in the same period last year.
Operationally, McEwen Inc. produced 30,872 GEOs in Q2/26, up from 27,554 GEOs in Q2/25, with production from the San José mine contributing significantly to this increase. The company also reported a 51% increase in revenue from its 49% interest in Minera Santa Cruz, which generated $133.4 million in Q2/26, compared to $94.9 million in Q2/25. The company’s exploration activities have expanded, with significant investments in the Fox Complex and the Tartan Mine Project, which was acquired in early 2026.
Strategically, McEwen Inc. completed the acquisition of Golden Lake Exploration Inc. on April 30, 2026, enhancing its portfolio of mineral properties. The company also received substantial dividends from its equity investments, including $58.2 million from Minera Santa Cruz in the first half of 2026, compared to $2.2 million in the same period last year. The company’s cash and cash equivalents increased to $78.9 million as of June 30, 2026, up from $53.5 million at the end of 2025, reflecting strong operational cash flow.
Looking ahead, McEwen Inc. has revised its production guidance for 2026 to between 109,000 and 120,000 GEOs, driven by expected increases in production from the Fox Complex and the San José mine. The company remains focused on advancing its projects and optimizing its operations while managing costs effectively. The outlook reflects confidence in the company’s ability to leverage its assets and investments to drive future growth.
About McEwen Inc.
McEwen Mining Inc. is a diversified precious and base metals producer focused on gold, silver, and copper exploration and development in North and South America. It operates multiple mines and advanced projects, including the San José mine, Los Azules copper project, and several exploration-stage properties. The company’s business model emphasizes resource extraction, exploration, and strategic partnerships, competing in a capital-intensive industry with a focus on shareholder value and compliance with environmental regulations.
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