08:38 AM EDT, 08/07/2025 (MT Newswires) -- McEwen Mining (MUX.TO) was last seen down 3.1% in pre-market New York trading after the company on Thursday said it swung to a profit in the second quarter on higher gold prices even as production fell.

The company said it earned US$3.0 million, or US$0.06 per share, in the quarter, compared with a loss of US$13 million, or US$0.26, in the year-prior period. Revenue slipped 1.7% to US$46.7 million from US$47.5 million.

The company said it sold 14,549 gold-equivalent ounce in the quarter, down from 20,6630 GEOs a year earlier. Its average price per GEO rose 40% to US$3,298 from US$2,355.

"The higher gold price, while expected, had a welcome positive impact on our cash flow and net income," chief executive Rob McEwen said in a release.

McEwen shares were last seen down US$0.33 to US$10.45 in premarket trading. The shares closed up $0.39 to $15.04 Wednesday on the Toronto Stock Exchange.