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McEwen Mining shares fell 19% since September; undervalued with strong gold and copper assets, buy recommended.

Analyst Insights
20 Oct 2026
Seeking Alpha
View Source
Bullish
McEwen Mining shares fell 19% since September; undervalued with strong gold and copper assets, buy recommended.

McEwen Mining's stock has dropped 19% since September, but the market is overly focused on upcoming November results and the Gold Bar project recovery. The analyst values Gold Bar at about $3 per share and sees significant upside from the Los Azules copper project, which contributes $13 of the $31 risked value per share. The current share price is supported by gold mines and the Grey Fox project, with copper assets nearly free. The recommendation is to buy McEwen shares with a price target of $23.72, offering a real annual return of about 15%. A half position is advised until financing details are clear.

McEwen Mining's recent stock discussion provides context for Basic Materials sector activity on Pluang. For readers following Basic Materials, here is Pluang's market snapshot as of Oct 21, 2026 00:51 WIB: Of 83 priced US stocks, 52 rose and 31 fell. Notable movers include HYMC at USD 17.53 with a 1-day change of +3.97%, SVM at USD 9.40 down -3.79% with 100% buy order activity, and SOLS at USD 62.43 up +3.24%, with typical hold times ranging from 2 to 5 days.

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