McEwen Mining Inc. (NYSE:MUX) price closed higher on Monday, September 13, jumping 3.48% above its previous close.
A look at the daily price movement shows that the last close reads $1.15, with intraday deals fluctuated between $1.13 and $1.21. The company’s 5Y monthly beta was ticking 1.16. Taking into account the 52-week price action we note that the stock hit a 52-week high of $1.71 and 52-week low of $0.90. The stock added 10.19% on its value in the past month.
McEwen Mining Inc., which has a market valuation of $536.95 million, is expected to release its quarterly earnings report Oct 27, 2021 – Nov 01, 2021. Analysts tracking MUX have forecast the quarterly EPS to shrink by 0 per share this quarter, while the same analysts predict the annual EPS to hit -$0.06 for the year 2021 and up to $0.05 for 2022. In this case, analysts estimate an annual EPS growth of 83.80% for the year and 183.30% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $39.27 million, with the likely lows of $39.15 million and highs of $39.4 million. Staying with the analyst view, there is a consensus estimate of $144.11 million for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 37.50% above that which the company brought in 2021.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give MUX a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as Hold.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 4 analysts have assigned MUX a recommendation rating as follows: 0 rate it as a Hold; 4 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the McEwen Mining Inc. (MUX) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that MUX’s price is at present 7.06% off the SMA20 and 2.57% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 55.33, with weekly volatility standing at 5.44%. The indicator jumps to 5.69% when calculated based on the past 30 days. McEwen Mining Inc. (NYSE:MUX)’s beta value is holding at 1.17, while the average true range (ATR) indicator is currently reading 0.07. Considering analysts have assigned the stock a price target range of $1.75-$2.10 as the low and high respectively, we find the trailing 12-month average consensus price target to be $1.84. Based on this estimate, we see that current price is roughly -47.06% off the estimated low and -76.47% off the forecast high. Investors will no doubt be excited to see the share price fall to $1.75, which is the median consensus price, and at that level MUX would be -47.06% from current price.
Turning out attention to how the McEwen Mining Inc. stock has performed in comparison to its peers in the industry, here’s what we find: MUX’s stock is 3.48% on the day and -5.56% in the past 12 months, while Hecla Mining Company (HL) traded 1.65% in the last session and was positioned 13.09% up on its price 12 months ago. Another comparison is with Yamana Gold Inc. (AUY) whose stock price was up 1.45% in the last trading session, and has flourished -30.40% over the past year. Also, First Majestic Silver Corp. (AG) showed up trend of 4.01% while its price kept floating at 9.01% over the past year. Elsewhere in the market, the S&P 500 Index has rallied 0.23% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with 0.76%.
An analysis of the McEwen Mining Inc. (NYSE:MUX) stock in terms of its daily trading volume indicates that the 3-month average is 4.00 million.
Current records show that the company has 459.19M in outstanding shares. The insiders’ percentage holdings are 18.21% of outstanding shares while the percentage share held by institutions stands at 30.70%. But the 20.81% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.