McEwen Mining (TSE:MUX) Share Price Passes Above 50-Day Moving Average – Here’s What Happened

by · The Markets Daily

McEwen Mining Inc (TSE:MUX – Get Free Report) (NYSE:MUX)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$24.75 and traded as high as C$25.02. McEwen Mining shares last traded at C$24.68, with a volume of 74,564 shares trading hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upgraded shares of McEwen Mining to a “strong-buy” rating in a 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 MarketBeat.com, the stock has an average rating of “Strong Buy” and an average target price of C$20.00.

Check Out Our Latest Stock Report on McEwen Mining

McEwen Mining Price Performance

The company has a 50 day moving average of C$24.75 and a 200 day moving average of C$17.88. The stock has a market capitalization of C$1.34 billion, a price-to-earnings ratio of -107.30 and a beta of 1.77. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 8.46.

McEwen Mining (TSE:MUX – Get Free Report) (NYSE:MUX) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C($0.01) EPS for the quarter. The business 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%. As a group, equities research analysts forecast that McEwen Mining Inc will post 0.0677185 EPS for the current fiscal year.

McEwen Mining Company Profile

(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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