McEwen Mining 2023 net income $1.15/sh vs loss; production misses guidance

McEwen Inc.

Net income $54.7M ($1.15/diluted) vs 2022 net loss $81.1M ($1.71 loss); $224M gain from deconsolidation of McEwen Copper.
Consolidated production 133,300 GEOs vs guidance 150,000-170,000; cash costs & AISC above guidance at all mines.
Q4 2023 net income $137.9M ($2.88/sh) vs Q4 2022 net loss $37.4M ($0.79 loss).
2024 guidance: owned mines 80,000-85,000 GEOs; San Jose (49%) 50,000-60,000 GEOs with AISC $1,500-$1,700/GEO.
McEwen Copper now 47.7% owned; implied value $800M; Stellantis owns 19.4%, Nuton (Rio Tinto) 14.5%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

McEwen Inc. reported full year 2023 results: net income $54.7 million, EPS $1.15 per share. Guidance initiated.

Period: full year 2023
Net income: $54.7 million
EPS: $1.15 per share
Guidance: initiated
Result: reported results

Exact text from the filing

Net income for the year was $54.7 million or $1.15 per share versus a 2022 net loss of $81.1 million or $1.71 per share

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McEwen Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-029694

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