Why Is Gold and Silver Producer Is a Long-Term Buy
Contributed Opinion

1. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of McEwen Mining Inc..
2. John Newell: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
3. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 
4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

This short article is an update to an article on McEwen Mining Inc. (MUX:TSX; MUX:NYSE) that I wrote in early July 2025, which can be found here. I wrote it when it looked like the company had turned the corner both fundamentally and technically and was beginning to fire on all cylinders.

This was especially refreshing after the gut-wrenching pullbacks the shares had suffered in recent years, despite the tremendous efforts being put in to turn the company around. However, it became clear that the long-term technical share structure turned up decisively in 2024–2025. Price cleared a multi-year downtrend and pushed through the neckline of an inverse head-and-shoulders base. That move unlocked our three measured targets on the weekly / daily charts.

The first target near CA$16.50 was met and exceeded, and then corrected far more than we thought, but eventually found support at the 0.618 support level. The second target of around CA$22.50 has also been met. The third target near CA$44.10 remains open, with a longer-term "big picture" objective around CA$47.50 based on the full depth of the base and prior back-price resistance.

Our short-term targets laid out an initial sequence at CA$13.80, CA$19.50, and CA$21.75.

All three were achieved during a decisively bullish advance on expanding volume, confirming trend strength and strong momentum sponsorship. MACD turned positive ahead of the breakout, and RSI pressed into overbought, consistent with early-stage leadership rather than exhaustion at the time.

After such an extended run, the shares could go through a natural "backing and filling" phase. Think consolation of the move higher, not long-term damage or a top. The first area of interest sits in the mid CA$25 area, which lines up with the second long-term target, prior breakout, and a rising 20–50 day moving average band on your work.

A deeper shakeout toward the 0.618 retracement of the most recent up leg would still be constructive within the new uptrend, provided volume contracts on down days and expands on subsequent reversals higher.

Context matters. This base resolved after years of underperformance and a long period of accumulation. The "same way down, same way up" symmetry we've flagged is playing through once back-price resistance gave way, price moved quickly to re-price toward prior congestion zones.

From a fundamental viewpoint, holders still have a call option on McEwen Copper's embedded value alongside the gold business, which helps explain the willingness to pay up during the re-rating. Leadership and alignment also count. Under Rob McEwen's guidance, the company leaned in at the lows and then delivered catalysts into a strengthening physical metals market. The market is acknowledging that with this strong upward momentum in the share price.

Bottom line

While McEwen Mining has had a big run, we expect near-term volatility as the stock digests gains. Pullbacks into the mid-CA$20s would be normal and could offer secondary entry points if momentum resets, without heavy distribution. As long as the neckline break holds and weekly momentum remains positive, the path of least resistance points toward the open third target near CA$44 and, over time, the high-CA$40s.

Given this setup, I rank McEwen Mining Inc. (MUX:TSX; MUX:NYSE)  a long-term Buy for patient investors who are comfortable with some volatility, which is part of the precious metal sector.