- McEwen Mining reported its preliminary Q3 results on Friday with dismal gold-equivalent production of just 30,400 ounces, down 33% year-over-year.
- The company continues to be one of the only gold producers expected to post net losses per share this year, despite the fact that gold is now at all-time highs.
- McEwen Mining has shared that it hopes to grow to 300,000-ounce producer status by FY2023, but it's important to take into account the company's previous track record with similar promises.
- I continue to see the stock as an Avoid, and I would view any rallies above $1.50 as selling opportunities.
For further details see:
McEwen Mining: Another Underwhelming Quarter