McEwen Mining Inc. [MUX] Revenue clocked in at $104.80 million, up 20.81% YTD: What’s Next?

McEwen Mining Inc. [NYSE: MUX] stock went on an upward path that rose over 2.59% on Wednesday, amounting to a one-week price increase of more than 5.31%. The company report on April 19, 2021 that McEwen Mining: Q1 2021 Production Results.

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McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reports consolidated production for Q1 2021 of 23,300 gold ounces and 493,200 silver ounces, or 30,600 gold equivalent ounces(1)(GEOs), compared to 35,100 GEOs in Q1 2020. All operations delivered production in line with budget. Production is expected to increase over the balance of the year and to be 20-40% greater than 2020.

Consolidated Production Summary.

Over the last 12 months, MUX stock rose by 23.70%. The one-year McEwen Mining Inc. stock forecast points to a potential upside of 32.77. 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 $541.80 million, with 409.02 million shares outstanding and 373.71 million shares in the current float. Compared to the average trading volume of 7.48M shares, MUX stock reached a trading volume of 3902957 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MUX shares is $1.77 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 0.05, with the Price to Sales ratio for MUX stock in the period of the last 12 months amounting to 5.17. The Price to Book ratio for the last quarter was 1.34.

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 5.31. With this latest performance, MUX shares gained by 4.39% in over the last four-week period, additionally plugging by 14.42% over the last 6 months – not to mention a rise of 23.70% 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 58.04, with the RSI for the last a single of trading hit 61.28, and the three-weeks RSI is set at 55.82 for McEwen Mining Inc. [MUX]. The present Moving Average for the last 50 days of trading for this stock 1.1280, while it was recorded at 1.1740 for the last single week of trading, and 1.1142 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 -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.

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 $99 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 0.20% of the total institutional ownership; WEISS ASSET MANAGEMENT LP, holding 13,968,066 shares of the stock with an approximate value of $16.62 million in MUX stocks shares; and BLACKROCK INC., currently with $8.63 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 April and at the time of the April reporting period, where 50 institutional holders increased their position in McEwen Mining Inc. [NYSE:MUX] by around 24,995,444 shares. Additionally, 56 investors decreased positions by around 7,650,117 shares, while 34 investors held positions by with 50,147,956 shares. The mentioned changes placed institutional holdings at 82,793,517 shares, according to the latest SEC report filing. MUX stock had 14 new institutional investments in for a total of 15,812,354 shares, while 21 institutional investors sold positions of 1,042,879 shares during the same period.

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