In the last trading session, 1,010,000,000 shares of the McEwen Mining Inc. (NYSE:MUX) were traded, and its beta was 1.1. Most recently the company’s share price was $1.1, and it changed around $0.01 or 0.01% from the last close, which brings the market valuation of the company to $505.11 Million. MUX currently trades at a discount to its 52-week high of $1.6, offering almost -45.45% off that amount. The share price’s 52-week low was $0.76, which indicates that the current value has risen by an impressive 30.91% since then. We note from McEwen Mining Inc.’s average daily trading volume that its 10-day average is 3.02 Million shares, with the 3-month average coming to 7.94 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
Instantly MUX has showed a green trend with a performance of 0.92% 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 $1.12 on Tuesday, Apr 06 increased the stock’s daily price by 1.79%. The company’s shares are currently up 0.12% year-to-date, but still up 0.0377 over the last five days. On the other hand, McEwen Mining Inc. (NYSE:MUX) is 0.02% up in the 30-day period. We can see from the shorts that 51.25 Million shares have been sold at a short interest cover period of 6.45 day (s).
The consensus price target as assigned by Wall Street analysts is $1.78, which translates to bears needing to increase their stock price by 61.82% from its current value. Analyst projections state that MUX is forecast to be at a low of $1.5 and a high of $2.1. In order for the stock price to hit the forecast high, the stock would need to surge +90.91% from its current level, while the stock would need to crash 36.36% 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 risen +3.77 percent over the past six months and at a -47.06% annual growth rate that is well below the industry average of 28.6%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +96% 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 47.2%, up from the previous year.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -40.9%. McEwen Mining Inc. earnings are expected to decrease by -128.7% in 2021, but the outlook is negative 0% per year for the next five years.
McEwen Mining Inc. (NYSE:MUX)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 18.4% of McEwen Mining Inc. shares, and 19.14% of them are in the hands of institutional investors. The stock currently has a share float of 23.45%. McEwen Mining Inc. stock is held by 161 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Dec 30, 2020, it held 4.25% of the shares, which is about 19.52 Million shares worth $19.22 Million.
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Weiss Asset Management LP, with 3.04% or 13.97 Million shares worth $13.76 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
VanEck Vectors ETF Tr-Junior Gold Miners ETF and Global X Fds-Global X Silver Miners ETF were the top two Mutual Funds as of Jan 30, 2021. The former held 18023149 shares worth $21.81 Million, making up 3.93% of all outstanding shares. On the other hand, Global X Fds-Global X Silver Miners ETF held roughly 7.45 Million shares worth around $8.27 Million, which represents about 1.62% of the total shares outstanding.