McEwen Mining's stock surged 5.04% in pre-market trading on Thursday, following the release of the company's first-quarter financial results.

The Canadian-U.S. gold miner reported Q1 revenue that rose 107% year-over-year, driven by higher gold-equivalent ounce (GEO) sales and increased gold prices. The company posted net income of $33.4 million, reversing a net loss from the same period last year, while adjusted EBITDA climbed significantly to $44.8 million from $8.7 million a year earlier.

McEwen maintains its 2026 production guidance and targets substantial production growth by 2030. Wall Street analysts maintain a "buy" rating on the shares with a median 12-month price target suggesting significant upside potential, contributing to positive investor sentiment.