McEwen Mining (MUX) PT Raised to $17 at H.C. Wainwright

H.C. Wainwright analyst Heiko Ihle raised the price target on McEwen Mining (NYSE: MUX) to $17.00 (from $15.50) while maintaining a Buy rating.

The analyst commented: "On July 28, McEwen Mining and Canadian Gold Corp. (CGC.V; not rated) entered into an agreement whereby McEwen has agreed to acquire all issued and outstanding shares of Canadian Gold, making the company a wholly owned subsidiary of the firm. Per the deal terms, each Canadian Gold common share entitles its shareholders to 0.0225 of a McEwen common share. Overall, Canadian Gold shareholders are expected to own about 8.2% of McEwen upon close of the transaction. We note that the agreed price represents a 26% premium to the 30-day volume-weighted average price of Canadian Gold Shares at market close of July 25, 2025. Looking ahead, the agreement should allow McEwen to leverage its world-class mine development team while strengthening its production pipeline through the development of Canadian Gold’s assets. We reiterate our Buy rating on McEwen Mining as we increase our PT to $17.00 from $15.50. Our increased PT is driven by an aforementioned increase in our commodity price deck."

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