McEwen Mining Inc. is experiencing a significant surge, driven by promising drilling results.
McEwen Mining Inc. (MUX.TO) is rising today, gaining 6.63% to close at CA$28.32. This uptick follows the announcement of impressive drilling results from the Surebet gold discovery, which has expanded its footprint significantly.
Investor takeaway: Investors should consider the implications of McEwen Mining's recent drilling successes, as they may signal a strong future for the company amidst a growing gold discovery.
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McEwen Mining Inc.
MUX.TO
MUX.TO
McEwen Mining Inc.
WealthAwesomeMarket cap
$1.69B
P/E
16.1x
52W high
$40.07
52W low
$20.18
1W change
+9.56%
Beta
1.26
Analyst Price Targets
Based on analyst covering MUX · as of Sep 23, 2026
Wall Street analysts forecast MUX stock price to rise 71.1% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$48.46
+71.1% Upside
Previously C$49.89 on Sep 21, 2026
Current Price
C$28.32
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on MUX's historical volatility
30-Day Vol
49.1%
Annualized
90-Day Vol
62.3%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$33.86
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$30.06 | C$25.37 – C$35.61 |
| 60 trading days | C$31.90 | C$25.10 – C$40.54 |
| 90 trading days | C$33.86 | C$25.24 – C$45.41 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
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6.63% Gain
McEwen Mining's stock has surged by 6.63%, reflecting positive market sentiment following significant exploration success.
Bull case
The recent drilling results show a perfect 100% hit rate, with the high-grade Surebet gold discovery continuing to expand. This indicates strong potential for future resource growth, making it an exciting time for investors.
Bear case
Despite today's gains, it's wise for investors to stay cautious. Mining stocks can be volatile, and there are inherent risks associated with exploration and production that shouldn't be overlooked.
Impressive Drilling Results
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McEwen Mining recently announced the completion of 48,443 meters of drilling with a 100% hit rate at the Surebet gold discovery. This achievement has expanded the footprint of the high-grade gold system to 2.01 km², suggesting robust mineralization and the potential for further discoveries.
Market Reaction
The market has reacted positively to the news, with McEwen Mining's stock rising significantly today. Investors are feeling optimistic about the company's future prospects, as the successful drilling program hints at strong potential for resource growth in the coming months.
Looking Ahead
With over 200,000 meters drilled to date and ongoing exploration efforts, McEwen Mining is well-positioned to capitalize on its discoveries. Investors should keep an eye on upcoming assay results and further announcements that could impact the stock's trajectory.
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