Thursday, February 25, 2021

ROTH Capital slashes price target on McEwen Mining Inc. [MUX] – find out why.

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McEwen Mining Inc. [NYSE: MUX] loss -5.65% on the last trading session, reaching $1.17 price per share at the time. The company report on February 17, 2021 that McEwen Mining: Fenix Project Feasibility Study Report Filed.

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McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) (“McEwen” or the “Company”) is pleased to announce the filing of a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), for its 100%-owned Fenix Project (the “Project”), which is located in the State of Sinaloa, Mexico. The technical report is available on SEDAR under the Company’s profile at www.sedar.com.


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“The Fenix Feasibility Study envisions a 9.5-year mine life with an attractive after-tax IRR of 28% using $1,500/oz gold and $17/oz silver. At $1,800/oz gold and $25/oz silver the project generates a 51% After-Tax IRR and a $91 million NPV@8%.

McEwen Mining Inc. represents 403.89 million in outstanding shares, while the company has a total market value of $519.34 million with the latest information. MUX stock price has been found in the range of $1.17 to $1.245.

If compared to the average trading volume of 6.71M shares, MUX reached a trading volume of 8400951 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about McEwen Mining Inc. [MUX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MUX shares is $1.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MUX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.11, with the Price to Sales ratio for MUX stock in the period of the last 12 months amounting to 4.75. The Price to Book ratio for the last quarter was 1.24, with the Price to Cash per share for the same quarter was set at 0.02.

Trading performance analysis for MUX stock

McEwen Mining Inc. [MUX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.54. With this latest performance, MUX shares gained by 22.31% in over the last four-week period, additionally sinking by -13.97% over the last 6 months – not to mention a drop of -3.31% 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 53.57, with the RSI for the last a single of trading hit 51.94, and the three-weeks RSI is set at 53.96 for McEwen Mining Inc. [MUX]. The present Moving Average for the last 50 days of trading for this stock 1.0520, while it was recorded at 1.1960 for the last single week of trading, and 1.0742 for the last 200 days.

McEwen Mining Inc. [MUX]: A deeper dive into fundamental analysis

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.

McEwen Mining Inc. [MUX]: An earnings per share (EPS) analysis

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.

An analysis of insider ownership at McEwen Mining Inc. [MUX]

There are presently around $97 million, or 15.20% 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 19,515,220, which is approximately 8.255% of the company’s market cap and around 0.10% of the total institutional ownership; WEISS ASSET MANAGEMENT LP, holding 13,968,066 shares of the stock with an approximate value of $16.34 million in MUX stocks shares; and BLACKROCK INC., currently with $8.49 million in MUX stock with ownership of nearly -29.046% 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 February and at the time of the February reporting period, where 51 institutional holders increased their position in McEwen Mining Inc. [NYSE:MUX] by around 25,010,813 shares. Additionally, 54 investors decreased positions by around 7,672,207 shares, while 35 investors held positions by with 50,139,347 shares. The mentioned changes placed institutional holdings at 82,822,367 shares, according to the latest SEC report filing. MUX stock had 17 new institutional investments in for a total of 15,838,923 shares, while 20 institutional investors sold positions of 1,040,490 shares during the same period.

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