FY2024 EPS Estimate for McEwen Mining Increased by Analyst

McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX - Equities researchers at HC Wainwright raised their FY2024 earnings per share estimates for shares of McEwen Mining in a research note issued on Thursday, November 7th. HC Wainwright analyst H. Ihle now forecasts that the basic materials company will post earnings of ($0.60) per share for the year, up from their previous forecast of ($0.88). HC Wainwright has a "Buy" rating and a $19.00 price objective on the stock. The consensus estimate for McEwen Mining's current full-year earnings is ($0.68) per share. HC Wainwright also issued estimates for McEwen Mining's FY2025 earnings at ($0.15) EPS.

Several other analysts also recently commented on MUX. Roth Mkm decreased their target price on shares of McEwen Mining from $12.75 to $12.25 and set a "buy" rating for the company in a research report on Thursday. StockNews.com upgraded McEwen Mining from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th.

McEwen Mining Stock Down 6.4 %

NYSE MUX traded down $0.57 on Monday, reaching $8.34. The stock had a trading volume of 977,605 shares, compared to its average volume of 662,056. The company has a current ratio of 1.17, a quick ratio of 1.21 and a debt-to-equity ratio of 0.06. McEwen Mining has a 1 year low of $5.92 and a 1 year high of $12.50. The business has a 50 day moving average price of $9.56 and a 200 day moving average price of $9.93. The company has a market capitalization of $441.35 million, a price-to-earnings ratio of 4.07 and a beta of 1.43.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The company had revenue of $52.25 million for the quarter, compared to analyst estimates of $48.60 million. During the same period last year, the business earned ($0.39) EPS.

Institutional Trading of McEwen Mining

A number of large investors have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new position in shares of McEwen Mining in the second quarter worth about $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of McEwen Mining during the 2nd quarter worth approximately $78,000. Private Advisor Group LLC bought a new stake in shares of McEwen Mining during the third quarter worth approximately $99,000. Rathbones Group PLC acquired a new stake in shares of McEwen Mining during the second quarter worth $101,000. Finally, Paloma Partners Management Co acquired a new stake in shares of McEwen Mining during the first quarter worth about $117,000. 17.03% of the stock is currently owned by institutional investors.

McEwen Mining Company Profile

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.