Market cap of McEwen Mining Inc. [MUX] reaches 401.64M – now what?

McEwen Mining Inc. [NYSE: MUX] stock went on a downward path that fall over -4.37% on Thursday, amounting to a one-week price increase of more than 0.77%. The company report on November 30, 2020 that McEwen Mining Update on the San José Mine.

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McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is reporting that a significant increase in COVID-19 infections in the Santa Cruz province in Argentina has resulted in the temporary lockdown of various mines including our 49%-owned San José mine. Production for Q4 is likely to be impacted by the shutdown. Limited operations are expected to resume in the coming days, subject to permission from the authorities.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTSThis news release contains certain forward-looking statements and information, including “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.’s (the “Company”) estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, effects of the COVID-19 pandemic, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and other filings with the Securities and Exchange Commission, under the caption “Risk Factors”, for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

Over the last 12 months, MUX stock dropped by -17.23%. The average equity rating for MUX stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $401.64 million, with 403.89 million shares outstanding and 324.35 million shares in the current float. Compared to the average trading volume of 3.37M shares, MUX stock reached a trading volume of 3567184 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on McEwen Mining Inc. [MUX]:

ROTH Capital have made an estimate for McEwen Mining Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 14, 2020. While these analysts kept the previous recommendation, B. Riley FBR raised their target price to Buy. The new note on the price target was released on September 10, 2019, representing the official price target for McEwen Mining Inc. stock. Previously, the target price had yet another raise to $3.25, while ROTH Capital analysts kept a Buy rating on MUX stock.

The Average True Range (ATR) for McEwen Mining Inc. is set at 0.05, with the Price to Sales ratio for MUX stock in the period of the last 12 months amounting to 3.67. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 0.02.

MUX Stock Performance Analysis:

McEwen Mining Inc. [MUX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.77. With this latest performance, MUX shares gained by 0.51% in over the last four-week period, additionally sinking by -0.58% over the last 6 months – not to mention a drop of -17.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MUX stock in for the last two-week period is set at 47.65, with the RSI for the last a single of trading hit 47.60, and the three-weeks RSI is set at 46.24 for McEwen Mining Inc. [MUX]. The present Moving Average for the last 50 days of trading for this stock 1.0310, while it was recorded at 0.9988 for the last single week of trading, and 1.0309 for the last 200 days.

Insight into McEwen Mining Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and McEwen Mining Inc. [MUX] shares currently have an operating margin of -47.14 and a Gross Margin at -28.08. McEwen Mining Inc.’s Net Margin is presently recorded at -51.06.

Return on Total Capital for MUX is now -10.05, given the latest momentum, and Return on Invested Capital for the company is -11.02. Return on Equity for this stock declined to -12.13, with Return on Assets sitting at -9.42. When it comes to the capital structure of this company, McEwen Mining Inc. [MUX] has a Total Debt to Total Equity ratio set at 11.34. Additionally, MUX Total Debt to Total Capital is recorded at 10.19, with Total Debt to Total Assets ending up at 8.82. Long-Term Debt to Equity for the company is recorded at 8.92, with the Long-Term Debt to Total Capital now at 8.01.

Reflecting on the efficiency of the workforce at the company, McEwen Mining Inc. [MUX] managed to generate an average of -$133,364 per employee. Receivables Turnover for the company is 62.98 with a Total Asset Turnover recorded at a value of 0.18.McEwen Mining Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.60.

MUX Stock EPS

With the latest financial reports released by the company, McEwen Mining Inc. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -250.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MUX.

McEwen Mining Inc. [MUX] Insider Position Details

There are presently around $64 million, or 17.50% of MUX stock, in the hands of institutional investors. The top three institutional holders of MUX stocks are: VAN ECK ASSOCIATES CORP with ownership of 18,027,122, which is approximately 6.244% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 10,222,199 shares of the stock with an approximate value of $10.07 million in MUX stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $8.06 million in MUX stock with ownership of nearly 31.336% of the company’s market capitalization.

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Positions in McEwen Mining Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 53 institutional holders increased their position in McEwen Mining Inc. [NYSE:MUX] by around 7,887,560 shares. Additionally, 53 investors decreased positions by around 11,921,949 shares, while 32 investors held positions by with 45,511,140 shares. The mentioned changes placed institutional holdings at 65,320,649 shares, according to the latest SEC report filing. MUX stock had 21 new institutional investments in for a total of 1,748,001 shares, while 12 institutional investors sold positions of 2,853,449 shares during the same period.

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