McEwen Mining Inc. [NYSE: MUX] loss -1.82% or -0.03 points to close at $1.62 with a heavy trading volume of 16009370 shares. The company report on May 10, 2021 that McEwen Mining Reports Upbeat Exploration & Delineation Results.
Including true width intervals of 6.08 g/t Au over 25.7 m at Stock West, 3.40 g/t Au over 24.3 m at Gold Bar, and 62.5 g/t Au & 5,571 g/t Ag over 2.0 m at San Jose.
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report strong exploration results from the ongoing drilling at the Stock West project near Timmins, Ontario. The Stock West target, initially discovered in late-2019, is being drill-tested as part of a fully funded two-year $20 million exploration and delineation program at the Fox Complex. Drilling is designed to support a Preliminary Economic Assessment (PEA), currently underway, to evaluate the potential of expanding mining operations. The Company is also pleased to update progress on the $5 million drilling program at the Gold Bar mine property near Eureka, Nevada, where encouraging new results support our confidence in the geological and mineral resource model driving operational improvement. A new drill result from the San Jose Property in Argentina may have meaningful implications for ongoing exploration.
It opened the trading session at $1.66, the shares rose to $1.66 and dropped to $1.55, the range by which the price of stock traded the whole day. The daily chart for MUX points out that the company has recorded 65.12% gains over the past six months. However, it is still -90.59% lower than its most recent low trading price.
If we look at the average trading volume of 4.31M shares, MUX reached to a volume of 16009370 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 $1.88 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 7.80. The Price to Book ratio for the last quarter was 1.82.
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 12.50. With this latest performance, MUX shares gained by 32.79% in over the last four-week period, additionally plugging by 65.12% over the last 6 months – not to mention a rise of 75.97% 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 68.58, with the RSI for the last a single of trading hit 70.49, and the three-weeks RSI is set at 66.65 for McEwen Mining Inc. [MUX]. The present Moving Average for the last 50 days of trading for this stock 1.2882, while it was recorded at 1.5360 for the last single week of trading, and 1.1290 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 -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 1.20 and a Current Ratio set at 1.80.
McEwen Mining Inc. [MUX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, McEwen Mining Inc. posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -33.30%. 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 $172 million, or 24.60% 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 22,340,880, which is approximately 14.479% of the company’s market cap and around 18.40% of the total institutional ownership; WEISS ASSET MANAGEMENT LP, holding 15,165,017 shares of the stock with an approximate value of $24.57 million in MUX stocks shares; and CONDIRE MANAGEMENT, LP, currently with $17.93 million in MUX stock with ownership of nearly New of the company’s market capitalization.
Positions in McEwen Mining Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 60 institutional holders increased their position in McEwen Mining Inc. [NYSE:MUX] by around 28,712,421 shares. Additionally, 47 investors decreased positions by around 5,902,893 shares, while 33 investors held positions by with 71,602,051 shares. The mentioned changes placed institutional holdings at 106,217,365 shares, according to the latest SEC report filing. MUX stock had 20 new institutional investments in for a total of 11,901,557 shares, while 15 institutional investors sold positions of 3,672,947 shares during the same period.