McEwen Mining Inc. [MUX] fell -48.00% so far this year. What now?

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McEwen Mining Inc. [NYSE: MUX] price plunged by -9.80 percent to reach at -$0.05. The company report on May 10, 2022 that McEwen Mining: Q1 2022 Results.

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McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported its first quarter (Q1) results for the period ended March 31st, 2022.

Production was 20,850 gold ounces and 336,500 silver ounces, or 25,100 gold equivalent ounces(1) (GEOs)(see Table 1), compared to 30,600 GEOs during Q1 2021.

A sum of 5558719 shares traded at recent session while its average daily volume was at 2.64M shares. McEwen Mining Inc. shares reached a high of $0.5299 and dropped to a low of $0.461 until finishing in the latest session at $0.46.

The one-year MUX stock forecast points to a potential upside of 70.32.

Guru’s Opinion on McEwen Mining Inc. [MUX]:

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 1.58. The Price to Book ratio for the last quarter was 0.56, with the Price to Cash per share for the same quarter was set at 0.12.

MUX Stock Performance Analysis:

McEwen Mining Inc. [MUX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.00. With this latest performance, MUX shares dropped by -43.16% in over the last four-week period, additionally sinking by -58.84% over the last 6 months – not to mention a drop of -62.21% 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 16.68, with the RSI for the last a single of trading hit 11.27, and the three-weeks RSI is set at 22.11 for McEwen Mining Inc. [MUX]. The present Moving Average for the last 50 days of trading for this stock 0.7762, while it was recorded at 0.5457 for the last single week of trading, and 0.9564 for the last 200 days.

Insight into McEwen Mining Inc. Fundamentals:

McEwen Mining Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.60.

McEwen Mining Inc. [MUX] Insider Position Details

There are presently around $59 million, or 25.70% 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 22,461,756, which is approximately 8.349% of the company’s market cap and around 18.22% of the total institutional ownership; STATE STREET CORP, holding 10,281,303 shares of the stock with an approximate value of $5.25 million in MUX stocks shares; and BLACKROCK INC., currently with $4.77 million in MUX stock with ownership of nearly 11.076% 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 50 institutional holders increased their position in McEwen Mining Inc. [NYSE:MUX] by around 10,979,901 shares. Additionally, 39 investors decreased positions by around 12,613,313 shares, while 46 investors held positions by with 91,444,205 shares. The mentioned changes placed institutional holdings at 115,037,419 shares, according to the latest SEC report filing. MUX stock had 11 new institutional investments in for a total of 1,761,269 shares, while 10 institutional investors sold positions of 201,612 shares during the same period.