For McEwen Mining Inc. [MUX], Analyst sees a rise to $2. What next?

McEwen Mining Inc. [NYSE: MUX] traded at a low on 03/18/21, posting a -4.27 loss after which it closed the day’ session at $1.12. The company report on March 16, 2021 that MCEWEN MINING: Disruption of Mexican Operation.

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McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reports that activities at its El Gallo Project in Mexico have been temporarily suspended as the result of an illegal blockade of the main access to the property by members of nearby communities. Certain individuals involved in the blockade believe that the annual payments and infrastructure improvements made to the local communities should increase significantly. El Gallo has operated harmoniously with the local communities since mining started in 2012, having demonstrated a long-standing track record of supporting local communities. In this context, the current situation is surprising. The site remains minimally staffed to maintain appropriate safety and security, and the environmental systems. McEwen Mining is negotiating for a peaceful resolution to the issues.

El Gallo has been residual heap leaching since Q3 2018 and is expected to contribute 3-4% to the Company’s gold equivalent production in 2021.

The results of the trading session contributed to over 4520731 shares changing hands. Over the past one week, the price volatility of McEwen Mining Inc. stands at 6.37% while the volatility over the past one month is 7.34%.

The market cap for MUX stock reached $505.19 million, with 409.02 million shares outstanding and 373.72 million shares in the current float. Compared to the average trading volume of 7.99M shares, MUX reached a trading volume of 4520731 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $1.81 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 0.08, with the Price to Sales ratio for MUX stock in the period of the last 12 months amounting to 4.82. The Price to Book ratio for the last quarter was 1.26.

How has MUX stock performed recently?

McEwen Mining Inc. [MUX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.90. With this latest performance, MUX shares dropped by -4.27% in over the last four-week period, additionally sinking by -1.75% over the last 6 months – not to mention a rise of 66.17% 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 49.97, with the RSI for the last a single of trading hit 49.59, and the three-weeks RSI is set at 50.46 for McEwen Mining Inc. [MUX]. The present Moving Average for the last 50 days of trading for this stock 1.1026, while it was recorded at 1.1380 for the last single week of trading, and 1.0960 for the last 200 days.

McEwen Mining Inc. [MUX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and McEwen Mining Inc. [MUX] shares currently have an operating margin of -64.75 and a Gross Margin at -42.95. McEwen Mining Inc.’s Net Margin is presently recorded at -145.36.

Return on Total Capital for MUX is now -13.92, given the latest momentum, and Return on Invested Capital for the company is -31.72. Return on Equity for this stock declined to -35.23, with Return on Assets sitting at -26.47. When it comes to the capital structure of this company, McEwen Mining Inc. [MUX] has a Total Debt to Total Equity ratio set at 14.69. Additionally, MUX Total Debt to Total Capital is recorded at 12.81, with Total Debt to Total Assets ending up at 10.55. Long-Term Debt to Equity for the company is recorded at 14.02, with the Long-Term Debt to Total Capital now at 12.22.

Reflecting on the efficiency of the workforce at the company, McEwen Mining Inc. [MUX] managed to generate an average of -$404,045 per employee. Receivables Turnover for the company is 46.91 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 1.20.

Earnings analysis for McEwen Mining Inc. [MUX]

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.

Insider trade positions for McEwen Mining Inc. [MUX]

There are presently around $93 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 $15.64 million in MUX stocks shares; and BLACKROCK INC., currently with $8.12 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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