Stock fact sheet · data as of
McEwen Mining Inc. (MUX): fair value, margin of safety and Wheel Score
Ticker symbol MUX · Basic Materials · Other Precious Metals · Canada · Blend
Is MUX undervalued?
McEwen Mining Inc. (MUX) closed at 14.93 on 5 Nov 2026. The GLS average fair value - the simple average of the 6 valuation models that produced a positive number - is 38.08, which puts the price 61% below it. 4 of the 6 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
The 6 models disagree widely: Payback Time gives 4.19 while GLS Growth gives 81.38. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for MUX, so the nightly engine files it under Blend (value score 71, growth score 77, out of 100).
Nine valuation models for MUX
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 18.86 | +26% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 76.03 | +409% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 33.23 | +123% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 81.38 | +445% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | 4.19 | -72% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 14.77 | -1% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -2.78 | -119% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 29.50 | +98% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - MUX passes 6 of the nine Piotroski tests, which passes the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 1.2 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are moderate - ROIC 5.1%, ROE 6.3%, ROA 4.2% - with debt at 0.23 times equity and a free-cash-flow yield of 0.7%.
McEwen Mining Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from United States Reportable 58%, Canada Reportable 35%, Mexico Reportable 7% (quarter Q4 FY2025).
Institutional ownership scores 7/10, insider activity 6/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 5.1% |
|---|---|---|---|
| GLS Moat | 1.2 / 10 | ROE | 6.3% |
| Debt / equity | 0.23 | ROA | 4.2% |
| Free-cash-flow yield | 0.7% | Payout ratio | 0% |
| Institutions | 7 / 10 | Insiders · Congress | 6 · 5 / 10 |
Wheel Score 42: Weak
MUX scores 42 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 5, can repay its debt - 18.4 years to repay its debt (over 3); and filter 8, big enough - market cap $892M (under $1.0B), and the parts are thin too - value strong, premium good, moat weak, health good, red flags good, option trading weak, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 70% on the near-the-money contracts 20-60 days out - above the 60% top of the sweet spot. It still passes the 25-80% filter, but the Wheel Score rewards it less because volatility this high usually comes with a reason. Chain open interest is 9,904 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.3M shares a day on a market cap of $892M, with a beta of 1.29 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Fails | 18.4 years to repay its debt (over 3) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $892M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 61% below fair value | |
| Premium | Good | implied volatility 70% | |
| Moat | Weak | moat 1.2/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Good | Red Flags score 80/100 | |
| Option trading | Weak | 383 contracts a day, 9,904 open interest | |
| Stability | Fair | beta 1.29, $892M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
McEwen Mining Inc. reports earnings on 9 Nov 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Other Precious Metals
The 12 companies below are the closest to McEwen Mining Inc. by market cap within the Other Precious Metals industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| ASM Avino Silver & Gold Mines Ltd. | 4.74 | 5.18 | +9% | 28Weak | $805M |
| TMC TMC the metals company inc. | 2.31 | 0.2076 | -1013% | 14Weak | $1.0B |
| MTA Metalla Royalty & Streaming Ltd. | 7.88 | 0.8525 | -824% | 26Weak | $737M |
| SCZM Santacruz Silver Mining Ltd. | 7.69 | 14.63 | +47% | 31No options | $715M |
| SLSR Solaris Resources Inc | 7.27 | 1.17 | -519% | 18Weak | $1.2B |
| IPX IperionX Limited | 15.21 | 8.86 | -72% | 13Weak | $510M |
| ALOY REalloys Inc. | 6.66 | - | - | 16Weak | $462M |
| ITRG Integra Resources Corp. | 2.19 | 4.45 | +51% | 29No options | $444M |
| ELVR Elevra Lithium Limited | 22.63 | 151.04 | +85% | 27No options | $437M |
| SSMR Sunshine Silver Mining & Refining Company | 12.71 | 0.1873 | -6687% | 21Weak | $1.8B |
| SIND Sinda Ltd. | 11.97 | 0.0539 | -22101% | 12No options | $1.9B |
| PPTA Perpetua Resources Corp. | 16.35 | 8.32 | -97% | 18Weak | $2.0B |
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about MUX
Is MUX undervalued right now?
By the GLS models, yes: at 14.93 the stock is 61% below the average fair value of 38.08 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of MUX and what does it mean?
MUX scores 42 out of 100 (Weak) - it fails Wheel Trade Filters 5, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for MUX?
38.08 per share as of 5 Nov 2026 - the simple average of the 6 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does McEwen Mining Inc. report earnings next?
The next earnings report is due on 9 Nov 2026 (before the open), 4 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does MUX have listed options, and how liquid are they?
Yes. The nightly snapshot found 64 listed contracts with 9,904 open interest across all expiries and implied volatility of 70% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.