Wall Street analysts expect McEwen Mining Inc (NYSE:MUX) (TSE:MUX) to announce earnings of ($0.01) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for McEwen Mining’s earnings. McEwen Mining posted earnings per share of ($0.04) in the same quarter last year, which would indicate a positive year-over-year growth rate of 75%. The company is scheduled to issue its next earnings report on Wednesday, October 30th.
On average, analysts expect that McEwen Mining will report full-year earnings of ($0.08) per share for the current financial year, with EPS estimates ranging from ($0.09) to ($0.06). For the next fiscal year, analysts anticipate that the company will post earnings of $0.03 per share, with EPS estimates ranging from ($0.03) to $0.06. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for McEwen Mining.
McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Tuesday, July 30th. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The company had revenue of $36.38 million during the quarter, compared to the consensus estimate of $34.92 million. McEwen Mining had a negative net margin of 55.09% and a negative return on equity of 11.81%.
Several equities research analysts have issued reports on MUX shares. Zacks Investment Research raised McEwen Mining from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. B. Riley started coverage on McEwen Mining in a report on Tuesday, September 10th. They set a “buy” rating and a $4.20 price target for the company. ValuEngine downgraded McEwen Mining from a “buy” rating to a “hold” rating in a report on Thursday. Finally, HC Wainwright raised their price target on McEwen Mining from $2.50 to $3.50 and gave the company a “buy” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. McEwen Mining presently has an average rating of “Buy” and an average price target of $3.85.
McEwen Mining stock traded down $0.10 during mid-day trading on Monday, hitting $1.56. 5,395,100 shares of the company’s stock traded hands, compared to its average volume of 2,863,180. The firm has a 50 day simple moving average of $1.86 and a two-hundred day simple moving average of $1.65. McEwen Mining has a fifty-two week low of $1.23 and a fifty-two week high of $2.44. The stock has a market cap of $600.94 million, a price-to-earnings ratio of -12.00 and a beta of -0.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.90 and a quick ratio of 0.94.
In other McEwen Mining news, Director Richard W. Brissenden sold 25,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $2.01, for a total transaction of $50,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 22.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MUX. CIBC World Markets Inc. increased its position in McEwen Mining by 851.2% during the 1st quarter. CIBC World Markets Inc. now owns 1,017,215 shares of the basic materials company’s stock worth $1,526,000 after buying an additional 910,279 shares during the period. Pictet Asset Management Ltd. increased its position in McEwen Mining by 134.8% during the 1st quarter. Pictet Asset Management Ltd. now owns 24,732 shares of the basic materials company’s stock worth $37,000 after buying an additional 14,200 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in McEwen Mining during the 2nd quarter worth $51,000. Aperio Group LLC increased its position in McEwen Mining by 25.1% during the 2nd quarter. Aperio Group LLC now owns 184,014 shares of the basic materials company’s stock worth $322,000 after buying an additional 36,864 shares during the period. Finally, Sigma Planning Corp bought a new position in McEwen Mining during the 2nd quarter worth $1,037,000. Hedge funds and other institutional investors own 25.42% of the company’s stock.
About McEwen Mining
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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