In the latest trading session, 2.58 million McEwen Mining Inc. (NYSE:MUX) shares changed hands as the company’s beta touched 1.24. With the company’s most recent per share price at $1.45 changing hands around $0.03 or 2.11% at last look, the market valuation stands at $675.00M. MUX’s current price is a discount, trading about -17.93% off its 52-week high of $1.71. The share price had its 52-week low at $0.87, which suggests the last value was 40.0% up since then. When we look at McEwen Mining Inc.’s average trading volume, we note the 10-day average is 12.69 million shares, with the 3-month average coming to 5.07 million.
Analysts gave the McEwen Mining Inc. (MUX) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended MUX as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. McEwen Mining Inc.’s EPS for the current quarter is expected to be -$0.02.
McEwen Mining Inc. (NYSE:MUX) trade information
Instantly MUX is in green as seen in intraday trades today. With action -12.35%, the performance over the past five days has been red. The jump to weekly highs of 1.7100 on Friday, 06/18/21 added 2.11% to the stock’s daily price. The company’s shares are showing year-to-date upside of 44.16%, with the 5-day performance at -12.35% in the red. However, in the 30-day time frame, McEwen Mining Inc. (NYSE:MUX) is 5.19% up. Looking at the short shares, we see there were 44.61 million shares sold at short interest cover period of 8.39 days.
The consensus price target for the stock as assigned by Wall Street analysts is $1.75, meaning bulls need an upside of 17.14% from its recent market value. According to analyst projections, MUX’s forecast low is $1.50 with $2.00 as the target high. To hit the forecast high, the stock’s price needs a -37.93% plunge from its current level, while the stock would need to soar -3.45% for it to hit the projected low.
McEwen Mining Inc. (MUX) estimates and forecasts
Data shows that the McEwen Mining Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 36.54% over the past 6 months, a 47.06% in annual growth rate that is considerably higher than the industry average of 22.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for McEwen Mining Inc. will rise 50.00%, while the growth in revenue is estimated to hit 50.00% for the next quarter. Year-over-year growth is forecast to reach 28.60% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $31.55 million. 2 analysts are of the opinion that McEwen Mining Inc.’s revenue for the quarter ending Sep 2021 will be $37.32 million.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -40.90%. The 2021 estimates are for McEwen Mining Inc. earnings to decrease by -128.70%.
McEwen Mining Inc. (NYSE:MUX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 18.21% of McEwen Mining Inc. shares while 24.44% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 29.88%. There are 24.44% institutions holding the McEwen Mining Inc. stock share, with Van Eck Associates Corporation the top institutional holder. As of Mar 30, 2021, the company held 4.87% of the shares, roughly 22.34 million MUX shares worth $23.23 million.
Weiss Asset Management LP holds the second largest percentage of outstanding shares, with 3.30% or 15.17 million shares worth $15.77 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of May 30, 2021 were VanEck Vectors ETF Tr-Junior Gold Miners ETF and Global X Fds-Global X Silver Miners ETF. With 20.84 million shares estimated at $30.63 million under it, the former controlled 4.54% of total outstanding shares. On the other hand, Global X Fds-Global X Silver Miners ETF held about 1.90% of the shares, roughly 8.71 million shares worth around $12.8 million.