FY2024 EPS Estimates for McEwen Mining Reduced by Analyst

McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX - Research analysts at Roth Capital lowered their FY2024 EPS estimates for shares of McEwen Mining in a report released on Thursday, January 30th. Roth Capital analyst J. Reagor now forecasts that the basic materials company will post earnings per share of ($0.83) for the year, down from their previous estimate of ($0.75). The consensus estimate for McEwen Mining's current full-year earnings is ($0.72) per share. Roth Capital also issued estimates for McEwen Mining's Q4 2024 earnings at ($0.13) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at $0.05 EPS, Q4 2025 earnings at $0.04 EPS and FY2025 earnings at ($0.17) EPS.

Several other research analysts have also recently weighed in on MUX. Roth Mkm reduced their price objective on McEwen Mining from $12.75 to $12.25 and set a "buy" rating for the company in a research report on Thursday, November 7th. StockNews.com downgraded shares of McEwen Mining from a "hold" rating to a "sell" rating in a report on Saturday, November 30th. Finally, HC Wainwright decreased their price objective on shares of McEwen Mining from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, January 30th.

McEwen Mining Stock Down 0.5 %

Shares of McEwen Mining stock traded down $0.05 on Monday, hitting $8.67. The company had a trading volume of 303,026 shares, compared to its average volume of 465,770. McEwen Mining has a twelve month low of $5.92 and a twelve month high of $12.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The stock has a 50-day moving average of $8.31 and a 200-day moving average of $8.89. The firm has a market capitalization of $458.60 million, a P/E ratio of 3.96 and a beta of 1.42.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last posted 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 return on equity of 20.77% and a net margin of 51.31%. The business had revenue of $52.25 million for the quarter, compared to the consensus estimate of $48.60 million. During the same period in the previous year, the company posted ($0.39) earnings per share.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in McEwen Mining by 66.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company's stock worth $3,659,000 after purchasing an additional 157,300 shares in the last quarter. Geode Capital Management LLC raised its position in shares of McEwen Mining by 5.8% in the third quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company's stock valued at $4,383,000 after buying an additional 25,844 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of McEwen Mining in the third quarter valued at approximately $99,000. GSA Capital Partners LLP acquired a new stake in McEwen Mining during the third quarter worth approximately $457,000. Finally, Bank of Montreal Can increased its stake in McEwen Mining by 100.1% during the 2nd quarter. Bank of Montreal Can now owns 82,905 shares of the basic materials company's stock worth $780,000 after acquiring an additional 41,480 shares during the period. Institutional investors own 17.03% 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.