NYSE$MUX

McEwen Mining Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Reported second quarter and first half results for the period ended June 30th, 2021.

McEwen Mining reported its second quarter results, highlighting production and cost information for its various mines, including Gold Bar, Fox Complex, San José, and El Gallo. The company also discussed the progress of the Los Azules Copper project and the formation of a subsidiary, McEwen Copper, to advance the project.

  • Gold Bar produced 14,100 GEOs in Q2 with reduced cash costs and AISC compared to Q2 2020.
  • Black Fox produced 7,100 GEOs in Q2 with significantly reduced cash costs and AISC compared to Q2 2020, transitioning to the Froome deposit.
  • San José Mine attributable production in Q2 was 9,300 gold ounces and 607,000 silver ounces, totaling 18,200 GEOs.
  • McEwen Copper was formed to advance the Los Azules Copper project, seeking to raise up to $80 million in a private offering.

Headline financials

Total Revenue

$40.7M

Previous: $18.3M+122.5%
EPS (adj)

-$0.10

Previous: -$0.50+80.0%
Gold Bar AISC per GEO sold

$1.62K

No prior period
San José AISC per GEO sold

$1.5K

No prior period
Capital Expenditures

-$20.4M

Previous: -$8.5M-139.6%
Free Cash Flow

-$28.4M

Previous: -$28.6M+0.5%
Net Income

-$5.99M

Previous: -$19.8M+69.8%
Operating Income

-$8.95M

Previous: -$21.1M+57.7%
Gross Profit

$4.06M

Previous: -$8.88M+145.7%
Cash & Equivalents

$42.2M

Previous: $18.4M+129.4%
Total Assets

$521M

Previous: $505M+3.1%

Revenue & EPS history

McEwen Mining · Revenue · Quarterly

$40.7M

Q2 2021+122.5%vs Q2 2020
Beat estimate in 7 of 14 quarters(50%)
ActualEstimate

Forward guidance

The company is focused on increasing production and reducing costs at its various mines. It is also working to advance the Los Azules Copper project.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

-0.2%

Avg return

Earnings day

-0.6%

Avg return

5 days after

+0.9%

Avg return

30 days after

40%

24 / 60 earnings

Positive

+22.1%

Q3 2022

Best reaction

-14.6%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+7.9%+18.4%-13.8%
Q4 2025-4.9%-14.6%-5.7%
Q3 2025+1.6%-0.6%+9.1%
Q1 2025+0.0%+7.6%+34.8%
Q4 2024+4.4%+0.7%-0.1%
Q3 2024-0.8%-2.7%-4.5%
Q2 2024-0.5%+1.6%+2.2%
Q1 2024-14.6%-15.8%-12.1%
Q4 2023+15.3%+36.4%+66.0%
Q3 2023+8.6%+3.0%+18.7%
Q2 2023-5.7%-3.2%-7.7%
Q1 2023-7.4%-10.1%-13.8%
Q4 2022-7.1%+2.6%+26.6%
Q3 2022+22.1%+41.3%+54.1%
Q2 2022-5.9%-6.7%-0.8%
Q1 2022-11.4%-12.8%-4.7%
Q4 2021-2.3%+1.0%+6.3%
Q3 2021-0.9%+1.8%-15.7%
Q2 2021-4.1%-13.2%-1.7%
Q1 2021+0.0%-2.4%+15.2%
Q4 2020+3.7%+3.7%+9.2%
Q3 2020+0.1%+0.9%+0.9%
Q2 2020-4.1%-14.4%-14.4%
Q1 2020-10.3%-9.4%-8.4%
Q4 2019+18.2%+1.5%-4.1%
Q3 2019-0.6%+4.2%-32.7%
Q2 2019-6.5%+0.0%+8.6%
Q1 2019+2.2%+1.4%-5.1%
Q4 2018+4.7%-0.5%-12.5%
Q3 2018-7.1%-7.1%-16.6%
Q2 2018-4.8%-4.3%-15.7%
Q1 2018+0.5%+1.0%+8.2%
Q4 2017-2.8%-5.6%+0.0%
Q3 2017-1.0%+2.1%+0.5%
Q2 2017-5.2%-12.7%+4.4%
Q1 2017-4.6%-6.0%-8.9%
Q4 2016-7.0%-9.6%-11.4%
Q3 2016+6.0%-1.2%-8.1%
Q2 2016-2.5%-1.1%-11.6%
Q1 2016+2.1%
Q4 2015-5.0%
Q3 2015-3.5%
Q2 2015+0.2%
Q1 2015+7.9%
Q4 2014-8.7%
Q3 2014-0.8%
Q2 2014+2.9%
Q1 2014-3.2%
Q4 2013+2.0%
Q3 2013+0.0%
Q2 2013+12.9%
Q1 2013-1.4%
Q4 2012+7.2%
Q3 2012-0.4%
Q2 2012+4.4%
Q1 2012+1.8%
Q4 2011-8.2%
Q4 2010-9.2%
Q3 2010+7.9%
Q1 2010+4.0%

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