In today’s recent session, 9,593,541 shares of the McEwen Mining Inc.(NYSE:MUX) have been traded, and its beta is 1.09. Most recently the company’s share price was $1.26, and it changed around $0.12 or 0.11% from the last close, which brings the market valuation of the company to $573.89 Million. MUX at last check was trading at a discount to its 52-week high of $1.6, offering almost -26.98% off that amount. The share price’s 52-week low was $0.53, which indicates that the recent value has risen by an impressive 57.94% since then. We note from McEwen Mining Inc.’s average daily trading volume that its 10-day average is 6.63 Million shares, with the 3-month average coming to 6.99 Million.
McEwen Mining Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 4 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended MUX as a Hold, whereas 4 deemed it a Buy, and no one rated it as Underweight. McEwen Mining Inc. is expected to report earnings per share of -$0.01 for the current quarter.
McEwen Mining Inc. (NYSE:MUX): Trading Information Today
Instantly MUX has been showing a green trend so far today with a performance of 10.54% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $1.29 on Tuesday, Feb 16 increased the stock’s daily price by 4.65%. The company’s shares are currently up 0.25% year-to-date, but still up 0.0165 over the last five days. On the other hand, McEwen Mining Inc. (NYSE:MUX) is 0.3% up in the 30-day period. We can see from the shorts that 56.34 Million shares have been sold at a short interest cover period of 8.06 day(s).
The consensus price target as assigned by Wall Street analysts is $1.86, which translates to bears needing to increase their stock price by 47.62% from its current value. Analyst projections state that MUX is forecast to be at a low of $1.7 and a high of $2. In order for the stock price to hit the forecast high, the stock would need to surge +58.73% from its current level, while the stock would need to crash 34.92% from its current level to reach the projected low.
McEwen Mining Inc. (MUX) projections and forecasts
McEwen Mining Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -9.52 percent over the past six months and at a -100% annual growth rate that is well below the industry average of 22.2%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +85.7% in revenue this quarter, and will report an increase of 100% in the next quarter. The year-over-year growth rate is expected to be -9.5%, down from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $28.88 Million in revenue for the current quarter. 2 analysts expect McEwen Mining Inc. to make $36.07 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarter a year ago was $32.36 Million. Analysts predict that the company’s current quarter sales will drop, forecast at -10.8%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 30.9%. McEwen Mining Inc. earnings are expected to decrease by -24.1% in 2021, but the outlook is negative 0% per year for the next five years.
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McEwen Mining Inc. (NYSE:MUX)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 20.67% of McEwen Mining Inc. shares, and 18.21% of them are in the hands of institutional investors. The stock currently has a share float of 22.95%. McEwen Mining Inc. stock is held by 163 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Dec 30, 2020, it held 4.55% of the shares, which is about 19.52 Million shares worth $19.22 Million.
Blackrock Inc., with 1.69% or 7.25 Million shares worth $7.14 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.