McEwen Mining Inc. [NYSE: MUX] slipped around -0.05 points on Friday, while shares priced at $1.17 at the close of the session, down -4.10%. The company report on July 13, 2021 that McEwen Mining: Q2 2021 Production Results.
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reports consolidated production for Q2 2021 was 31,700 gold ounces and 611,800 silver ounces, or 40,800 gold equivalent ounces(1)(“GEOs”), compared to 19,200 GEOs in Q2 2020. Overall production from our operations is on track with our previously announced 2021 production guidance.
Consolidated Production Summary.
McEwen Mining Inc. stock is now 18.78% up from its year-to-date (YTD) trading value. MUX Stock saw the intraday high of $1.23 and lowest of $1.14 per share. The company’s 52-week high price is 1.71, which means current price is +30.00% above from all time high which was touched on 06/16/21.
Compared to the average trading volume of 5.24M shares, MUX reached a trading volume of 4849273 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 $1.88 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 5.77. The Price to Book ratio for the last quarter was 1.31.
How has MUX stock performed recently?
McEwen Mining Inc. [MUX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.30. With this latest performance, MUX shares dropped by -25.48% in over the last four-week period, additionally plugging by 19.39% over the last 6 months – not to mention a rise of 10.38% 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 35.57, with the RSI for the last a single of trading hit 31.07, and the three-weeks RSI is set at 39.43 for McEwen Mining Inc. [MUX]. The present Moving Average for the last 50 days of trading for this stock 1.3878, while it was recorded at 1.2160 for the last single week of trading, and 1.1543 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 1.20 and a Current Ratio set at 1.80.
Insider trade positions for McEwen Mining Inc. [MUX]
There are presently around $128 million, or 25.20% 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 22,340,880, which is approximately 14.479% of the company’s market cap and around 18.21% of the total institutional ownership; WEISS ASSET MANAGEMENT LP, holding 15,165,017 shares of the stock with an approximate value of $17.74 million in MUX stocks shares; and CONDIRE MANAGEMENT, LP, currently with $12.95 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 August and at the time of the August reporting period, where 59 institutional holders increased their position in McEwen Mining Inc. [NYSE:MUX] by around 32,043,722 shares. Additionally, 48 investors decreased positions by around 5,923,093 shares, while 33 investors held positions by with 71,577,851 shares. The mentioned changes placed institutional holdings at 109,544,666 shares, according to the latest SEC report filing. MUX stock had 19 new institutional investments in for a total of 11,895,257 shares, while 16 institutional investors sold positions of 3,679,147 shares during the same period.