McEwen Mining Inc. (NYSE:MUX) has a beta value of 1.02 and has seen 2,268,890 shares traded in the recent trading session. The company, currently valued at $575.56 Million, closed the recent trade at $1.42 per share which meant it gained $0.02 on the day or 1.43% during that session. The MUX stock price is -50.7% off its 52-week high price of $2.14 and 62.68% above the 52-week low of $0.53. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.42 Million shares traded. The 3-month trading volume is 4.96 Million shares.
The consensus among analysts is that McEwen Mining Inc. (MUX) is a Buy stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 4 have rated it as a Hold, with 4 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.02.
McEwen Mining Inc. (NYSE:MUX) trade information
Sporting 1.43% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Aug 05 when the MUX stock price touched $1.53 or saw a rise of 6.54%. Year-to-date, McEwen Mining Inc. shares have moved 12.6%, while the 5-day performance has seen it change 5.93%. Over the past 30 days, the shares of McEwen Mining Inc. (NYSE:MUX) have changed 32.41%. Short interest in the company has seen 53.31 Million shares shorted with days to cover at 10.75.
Wall Street analysts have a consensus price target for the stock at $2.19, which means that the shares’ value could jump 54.23% from current levels. The projected low price target is $1.7 while the price target rests at a high of $2.75. In that case, then, we find that the current price level is +93.66% off the targeted high while a plunge would see the stock lose 19.72% from current levels.
McEwen Mining Inc. (MUX) estimates and forecasts
Figures show that McEwen Mining Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +22.81% over the past 6 months, with this year growth rate of 58.82%, compared to 12.2% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 33.3% and 85.7% for the next quarter. Revenue growth from the last financial year stood is estimated to be -8.5%.
3 analysts offering their estimates for the company have set an average revenue estimate of $28.3 Million for the current quarter. 3 have an estimated revenue figure of $29.58 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $32.69 Million and $32.36 Million respectively for this quarter and the next, and analysts expect sales will grow by -13.4% for the current quarter and -8.6% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +30.9% over the past 5 years. Earnings growth for 2020 is a modest -24.1%.
McEwen Mining Inc. (NYSE:MUX)’s Major holders
Insiders own 20.57% of the company shares, while shares held by institutions stand at 25.37% with a share float percentage of 31.94%. Investors are also buoyed by the number of investors in a company, with McEwen Mining Inc. having a total of 160 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 18.26 Million shares worth more than $12.07 Million. As of March 30, 2020, Van Eck Associates Corporation held 4.56% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 11.58 Million shares as of March 30, 2020. The firm’s total holdings are worth over $7.65 Million and represent 2.89% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are VanEck Vectors ETF Tr-Junior Gold Miners ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Metals & Mining ETF. As of May 30, 2020, the former fund manager holds about 4.07% shares in the company for having 16277460 shares of worth $14.71 Million while later fund manager owns 9.6 Million shares of worth $8.67 Million as of May 30, 2020, which makes it owner of about 2.4% of company’s outstanding stock.