McEwen Mining (TSE:MUX) Shares Pass Above 50 Day Moving Average – What’s Next?

by · The Markets Daily

McEwen Mining Inc (TSE:MUX – Get Free Report) (NYSE:MUX) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$25.46 and traded as high as C$26.32. McEwen Mining shares last traded at C$26.17, with a volume of 39,141 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upgraded shares of McEwen Mining to a “strong-buy” rating in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy” and a consensus target price of C$20.00.

Get Our Latest Analysis on MUX

McEwen Mining Trading Up 1.6%

The company has a debt-to-equity ratio of 8.46, a quick ratio of 1.00 and a current ratio of 1.17. The firm has a market capitalization of C$1.43 billion, a price-to-earnings ratio of -113.78 and a beta of 1.77. The company has a 50 day moving average price of C$25.46 and a two-hundred day moving average price of C$18.48.

McEwen Mining (TSE:MUX – Get Free Report) (NYSE:MUX) last released its quarterly earnings results on Wednesday, November 5th. The company reported C($0.01) earnings per share (EPS) for the quarter. The company had revenue of C$70.36 million during the quarter. McEwen Mining had a net margin of 51.59% and a return on equity of 20.89%. On average, research analysts forecast that McEwen Mining Inc will post 0.0677185 EPS for the current year.

About McEwen Mining

(Get Free Report)

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.

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