McEwen Mining Inc. [MUX] Revenue clocked in at $109.40 million, up 12.69% YTD: What’s Next?

McEwen Mining Inc. [NYSE: MUX] price surged by 1.83 percent to reach at $0.02. The company report on March 11, 2021 that MCEWEN MINING: 2021 Outlook and 2020 Year End and Q4 Results.

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McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reported fourth quarter and full year results for the period ended December 31, 2020, along with the outlook for 2021.

“2020 was a brutal year but we more than survived and have come out stronger from it. The ‘Going Concern Note’ has been removed from our financial statements; we released two feasibility studies that shows the potential to extend the life of our Mexican operations by 9.5 years, and outlines a 6-year life for our Gold Bar mine, which recovered from what was tantamount to a near-death experience for the operation in early 2020. The future of our Fox Complex is becoming more visible. Access to the Froome deposit is nearly complete and commercial production is planned to start in Q4. This will extend the life of the Black Fox mine by 2.5 years, providing a bridge to our second phase of growth at Fox, which we will unveil in Q2. Given our large gold resource base in the Timmins area, we expect it to support a potential ten-year mine life with annual production of 100-150,000 ounces of gold.

A sum of 4607497 shares traded at recent session while its average daily volume was at 7.92M shares. McEwen Mining Inc. shares reached a high of $1.11 and dropped to a low of $1.06 until finishing in the latest session at $1.11.

The one-year MUX stock forecast points to a potential upside of 40.32. The average equity rating for MUX stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 0.10, with the Price to Sales ratio for MUX stock in the period of the last 12 months amounting to 4.66. The Price to Book ratio for the last quarter was 1.18, 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 2.78. With this latest performance, MUX shares dropped by -1.77% in over the last four-week period, additionally sinking by -12.60% over the last 6 months – not to mention a rise of 38.99% 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 49.80, with the RSI for the last a single of trading hit 50.06, and the three-weeks RSI is set at 50.26 for McEwen Mining Inc. [MUX]. The present Moving Average for the last 50 days of trading for this stock 1.0897, while it was recorded at 1.0760 for the last single week of trading, and 1.0907 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 -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2,400.00%. 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 $92 million, or 19.10% 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 $15.51 million in MUX stocks shares; and BLACKROCK INC., currently with $8.05 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 March and at the time of the March reporting period, where 50 institutional holders increased their position in McEwen Mining Inc. [NYSE:MUX] by around 25,002,501 shares. Additionally, 55 investors decreased positions by around 7,622,926 shares, while 36 investors held positions by with 50,198,731 shares. The mentioned changes placed institutional holdings at 82,824,158 shares, according to the latest SEC report filing. MUX stock had 16 new institutional investments in for a total of 15,830,611 shares, while 20 institutional investors sold positions of 1,015,379 shares during the same period.

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