Why did MUX miss earnings forecasts in Q3 2024?
4/6/2025 11:16am
McEwen Mining Inc. (MUX) missed earnings forecasts in Q3 2024 due to a combination of factors:
1. **Revenue Shortfall**: The company's total revenue for the quarter was $33.52 million, which was below the estimated revenue of $33.7 million. This shortfall was due to a decrease in gold and silver prices, as well as lower gold equivalent ounces sold.
2. **Cost Management Issues**: McEwen Mining faced challenges in managing costs, particularly in the areas of labor and consumables, which negatively impacted profitability.
In summary, the revenue shortfall and cost management issues were the primary reasons why McEwen Mining missed earnings forecasts in Q3 2024.