07:06 AM EDT, 03/12/2026 (MT Newswires) -- McEwen Mining (MUX.TO) on Thursday reported that it swung to a net income year over year in the fourth quarter of 2025.

Net income was US$38.1 million, or $0.70 per share, swinging from a net loss of $8.2 million, or $0.16 per share. The result surpassed the fourth-quarter 2025 earnings per share consensus estimate of $0.18 compiled by FactSet.

Adjusted EBITDA was $28.2 million, or $0.51 per share, an increase from $5.2 million, or $0.10 per share.

Revenue in the fourth quarter of 2025 rose 28% from the previous quarter to $64.6 million from the sale of 15,196 gold equivalent ounces. The result missed the consensus estimate of $72.8 million compiled by FactSet. The average realized gold sale price per GEO was $4,436, 28% higher than in the previous quarter.

McEwen produced 34,341 GEOs in the fourth quarter of 2025, up from 32,403 GEOs in the year-ago quarter.

The company expects to produce 114,000 to 126,000 GEOs in 2026. This compares to full-year 2025 production of 115,687 GEOs.

McEwen plans to double production to 250,000 to 300,000 GEOs by 2030. In Canada, McEwen expects to grow production from 16,000 to 19,000 GEOs in 2026 to 105,000 to 120,000 GEOs by 2030, coming from the Fox Complex and the recently acquired Tartan Mine Project.

In the U.S., the company forecast production growth from 39,000 to 43,000 GEOs in 2026 to 90,000 to 110,000 GEOs by 2030, coming from Lookout Mountain, Windfall and Trinity Ridge, all located within the Gold Bar Mine Complex.

In Mexico, McEwen is forecasting 20,000 GEOs per year starting in mid-2027.