Why Buy stock in McEwen Mining Inc. (MUX)? – Marketing Sentinel

Why Buy stock in McEwen Mining Inc. (MUX)?

McEwen Mining Inc. (NYSE:MUX) has a beta value of 1.2 and has seen 5,934,406 shares traded in the recent trading session. The company, currently valued at $594.65 Million, closed the recent trade at $1.25 per share which meant it gained $0.05 on the day or 4.17% during that session. The MUX stock price is -28% off its 52-week high price of $1.6 and 38.8% above the 52-week low of $0.765. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.75 Million shares traded. The 3-month trading volume is 5.59 Million shares.

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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 4.17% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Monday, May 03 when the MUX stock price touched $1.29 or saw a rise of 3.02%. Year-to-date, McEwen Mining Inc. shares have moved 27.01%, while the 5-day performance has seen it change 7.84%. Over the past 30 days, the shares of McEwen Mining Inc. (NYSE:MUX) have changed 14.77%. Short interest in the company has seen 50.38 Million shares shorted with days to cover at 9.01.

Wall Street analysts have a consensus price target for the stock at $1.78, which means that the shares’ value could jump 42.4% from the levels at last check today. The projected low price target is $1.5 while the price target rests at a high of $2.1. In that case, then, we find that the latest price level in today’s session is +68% off the targeted high while a plunge would see the stock lose 20% from the levels at last check today.

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 +23.65% over the past 6 months, with this year growth rate of 35.29%, compared to 28.8% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 92% and 75% for the next quarter. Revenue growth from the last financial year stood is estimated to be +29.8%.

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 -40.9% over the past 5 years. Earnings growth for 2021 is a modest -128.7%.

McEwen Mining Inc. (NYSE:MUX)’s Major holders

Insiders own 18.4% of the company shares, while shares held by institutions stand at 19.41% with a share float percentage of 23.79%. Investors are also buoyed by the number of investors in a company, with McEwen Mining Inc. having a total of 161 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 19.52 Million shares worth more than $19.22 Million. As of December 30, 2020, Van Eck Associates Corporation held 4.25% of shares outstanding.

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The other major institutional holder is Weiss Asset Management LP, with the holding of over 13.97 Million shares as of December 30, 2020. The firm’s total holdings are worth over $13.76 Million and represent 3.04% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are VanEck Vectors ETF Tr-Junior Gold Miners ETF and Global X Fds-Global X Silver Miners ETF. As of March 30, 2021, the former fund manager holds about 4.48% shares in the company for having 20573055 shares of worth $21.4 Million while later fund manager owns 7.12 Million shares of worth $7.41 Million as of March 30, 2021, which makes it owner of about 1.55% of company’s outstanding stock.

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