The trading price of McEwen Mining Inc (NYSE:MUX) closed higher on Tuesday, April 02, closing at $10.80, 1.89% higher than its previous close.
The company’s P/E ratio in the trailing 12-month period was 10.31, while its 5Y monthly beta was 1.46. In examining the 52-week price action we see that the stock hit a 52-week high of $10.65 and a 52-week low of $5.92. Over the past month, the stock has gained 57.66% in value.
McEwen Mining Inc, whose market valuation is $512.89 million at the time of this writing, is expected to release its quarterly earnings report May 06, 2024 – May 10, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.09 per share this quarter, however they have predicted annual earnings per share of -$0.46 for 2024 and -$0.41 for 2025. It means analysts are expecting annual earnings per share growth of 85.20% this year and 10.90% next year.
Analysts have forecast the company to bring in revenue of $53.82 million for the current quarter, with the likely lows of $53.82 million and highs of $53.82 million. The average estimate suggests sales will likely up by 16.60% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $234.27 million. The company’s revenue is forecast to grow by 4.20% over what it did in 2024.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of McEwen Mining Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest MUX has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 75% Buy.
A quick review shows that MUX’s price is currently 24.18% off the SMA20 and 45.68% off the SMA50. The RSI metric on the 14-day chart is currently showing 82.11, and weekly volatility stands at 5.45%. When measured over the past 30 days, the indicator reaches 6.01%. McEwen Mining Inc (NYSE:MUX)’s beta value is currently sitting at 1.55, while the Average True Range indicator is currently displaying 0.50.
To see how McEwen Mining Inc stock has been performing in comparison to its peers in the industry, here are the numbers: MUX stock’s performance was 1.89% in the latest trading, and 24.57% in the past year. McEwen Mining Inc has a P/E ratio of 10.31.
An evaluation of the daily trading volume of McEwen Mining Inc (NYSE:MUX) indicates that the 3-month average is 617.11K. However, this figure has increased over the past 10 days to an average of 1.02 million.
Currently, records show that 49.44 million of the company’s shares remain outstanding. The insiders hold 17.80% of outstanding shares, whereas institutions hold 19.53%. The stats also highlight that short interest as of Mar 15, 2024, stood at 1.11 million shares, resulting in a short ratio of 1.66 at that time. From this, we can conclude that short interest is 2.25% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 1.07 million. However, since the stock’s price has seen 49.79% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
