- McEwen Mining released its preliminary Q1 results this week with quarterly production of ~30,600 gold-equivalent ounces.
- This figure is tracking well below FY2021 guidance, which is par for the course, and I would be shocked if the company managed to beat its guidance mid-point.
- Given McEwen Mining's industry-lagging reserve life despite one of the highest metals price assumptions among its peers, I continue to see the company as a high-risk investment.
- Rising metals prices will lift all boats, but if strength in metals prices does spur a rally in the stock closer to $1.50, I would view it as a selling opportunity.
For further details see:
McEwen Mining: Tracking Well Below Guidance To Start The Year