McEwen (TSX:MUX) Shiller PE Ratio: (As of Sep. 16, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSX:MUX McEwen Inc TSX:MUX
69 GF Score
Price C$25.85
GF Value C$16.13
Valuation Significantly Overvalued
! 4 Warning Signs
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What is McEwen Shiller PE Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


McEwen  (TSX:MUX) Shiller PE Ratio Explanation

Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.

Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.


Be Aware

Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.


McEwen Shiller PE Ratio Related Terms


McEwen Shiller PE Ratio Historical Data

* Premium members only.

The historical data trend for McEwen's Shiller PE Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

McEwen Shiller PE Ratio Chart

McEwen Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Shiller PE Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

McEwen Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Shiller PE Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

TSX:MUX vs LODE, ACRG, THMG: Shiller PE Ratio Comparison

For the Other Precious Metals & Mining subindustry, McEwen's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


McEwen Shiller PE Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, McEwen's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where McEwen's Shiller PE Ratio falls into.


TSX:MUX
69GF Score
McEwen Inc TSX:MUX
Shiller PE Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

McEwen Shiller PE Ratio Calculation

For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

McEwen's E10 for the quarter that ended in Jun. 2026 is calculated as:

For example, McEwen's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS=Earnings per Share (Diluted)/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.1783/133.5265*133.5265
=0.178

Current CPI (Jun. 2026) = 133.5265.

McEwen Quarterly Data

Earnings per Share (Diluted) CPI Adj_EPS
201609 0.130 101.765 0.171
201612 -0.133 101.449 -0.176
201703 -0.132 102.634 -0.172
201706 -0.134 103.029 -0.174
201709 -0.376 103.345 -0.486
201712 0.127 103.345 0.164
201803 -0.253 105.004 -0.322
201806 -0.258 105.557 -0.327
201809 -0.523 105.636 -0.661
201812 -0.820 105.399 -1.039
201903 -0.398 106.979 -0.497
201906 -0.502 107.690 -0.622
201909 -0.418 107.611 -0.519
201912 -0.876 107.769 -1.086
202003 -3.332 107.927 -4.123
202006 -0.686 108.401 -0.845
202009 -0.323 108.164 -0.398
202012 -0.750 108.559 -0.923
202103 -0.357 110.298 -0.433
202106 -0.160 111.720 -0.191
202109 -0.477 112.905 -0.565
202112 -0.578 113.774 -0.678
202203 -0.566 117.646 -0.642
202206 -0.335 120.806 -0.370
202209 -0.271 120.648 -0.300
202212 -1.070 120.964 -1.181
202303 -1.228 122.702 -1.337
202306 -0.613 124.203 -0.659
202309 -0.521 125.230 -0.556
202312 3.814 125.072 4.072
202403 -0.556 126.258 -0.588
202406 -0.358 127.522 -0.374
202409 -0.055 127.285 -0.057
202412 -0.217 127.364 -0.228
202503 -0.169 129.181 -0.175
202506 0.078 129.892 0.080
202509 -0.012 130.287 -0.012
202512 0.798 130.366 0.817
202603 0.654 132.262 0.660
202606 0.178 133.527 0.178

Add all the adjusted EPS together and divide 10 will get our E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is McEwen (TSX:MUX) Overvalued in 2026?

Based on GuruFocus' analysis, McEwen stock appears to be overvalued. The current stock price of C$25.85 is trading 60.3% above its estimated GF Value™ of C$16.13. GuruFocus considers McEwen to be Significantly Overvalued.

Key valuation signals for TSX:MUX:

  • Shiller PE Ratio:
  • GF Value™: C$16.13 vs. price of C$25.85 (60.3% above fair value)
  • GF Score™: 69/100 with 4 warning signs

No single metric tells the full story. See the TSX:MUX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


McEwen Business Description

Address 150 King Street West, Suite 2800, PO Box 24, Toronto, ON, CAN, M5H 1J9
McEwen Inc is a mining and minerals production and exploration company that focuses on precious and base minerals in Argentina, Mexico, and the United States. The company generates its revenue from gold and silver production. It owns and operates the wholly-owned El Gallo 1 mine in Mexico and holds a minority stake in the company that manages the San Jose mine in Argentina. Its Other operations include: Fox Complex, Gold Bar Complex, Project Fenix, and Los Azules. The company generates its revenue from gold and silver production. Its operating segments include Canada, United States, Mexico, MSC and McEwen Copper, of which it derives maximum revenue from USA.
69GF Score

Get the complete analysis for TSX:MUX

Shiller PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$25.85
Price
C$16.13
GF Value