McEwen Mining Inc. (NYSE: MUX) Rose 11.54% From Its 52-Week Low, But YTD Numbers Fell -48.00%. Here’s What You Need To Know At This Time – Marketing Sentinel
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McEwen Mining Inc. (NYSE: MUX) Rose 11.54% From Its 52-Week Low, But YTD Numbers Fell -48.00%. Here’s What You Need To Know At This Time

During the recent session, McEwen Mining Inc. (NYSE:MUX)’s traded shares were 0.85 million, with the beta value of the company hitting 1.22. At the last check today, the stock’s price was $0.52, reflecting an intraday gain of 12.72% or $0.06. The 52-week high for the MUX share is $1.71, that puts it down -228.85 from that peak though still a striking 11.54% gain since the share price plummeted to a 52-week low of $0.46. The company’s market capitalization is $215.73M, and the average intraday trading volume over the past 10 days was 3.2 million shares, and the average trade volume was 2.68 million shares over the past three months.

McEwen Mining Inc. (NYSE:MUX) trade information

McEwen Mining Inc. (MUX) registered a 12.72% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 12.72% in intraday trading to $0.52 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -27.00%, and it has moved by -43.16% in 30 days. Based on these gigs, the overall price performance for the year is -62.21%. The short interest in McEwen Mining Inc. (NYSE:MUX) is 14.17 million shares and it means that shorts have 5.04 day(s) to cover.

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The consensus price target of analysts on Wall Street is $1.61, which implies an increase of 67.7% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.50 and $1.75 respectively. As a result, MUX is trading at a discount of -236.54% off the target high and -188.46% off the low.

McEwen Mining Inc. (MUX) estimates and forecasts

Statistics show that McEwen Mining Inc. has underperformed its competitors in share price, compared to the industry in which it operates. McEwen Mining Inc. (MUX) shares have gone down -58.84% during the last six months, with a year-to-date growth rate less than the industry average at 16.67% against 19.10. In the rating firms’ projections, revenue will decrease -18.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $55.4 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $55.4 million by the end of Jun 2019. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $67.72 million and $67.72 million respectively. In this case, analysts expect current quarter sales to shrink by -18.20% and then drop by -18.20% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -30.50%. While earnings are projected to return 67.00% in 2022.

MUX Dividends

McEwen Mining Inc. is due to release its next quarterly earnings between October 27 and November 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

McEwen Mining Inc. insiders own 18.22% of total outstanding shares while institutional holders control 26.97%, with the float percentage being 32.98%. Van Eck Associates Corporation is the largest shareholder of the company, while 164 institutions own stock in it. As of Sep 29, 2021, the company held over 22.76 million shares (or 4.96% of all shares), a total value of $23.67 million in shares.

The next largest institutional holding, with 14.13 million shares, is of State Street Corporation’s that is approximately 3.08% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $14.69 million.

Also, the Mutual Funds coming in first place with the largest holdings of McEwen Mining Inc. (MUX) shares are VanEck Vectors ETF Tr-Junior Gold Miners ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Metals & Mining ETF. Data provided on Sep 29, 2021 indicates that VanEck Vectors ETF Tr-Junior Gold Miners ETF owns about 20.6 million shares. This amounts to just over 4.49 percent of the company’s overall shares, with a $21.43 million market value. The same data shows that the other fund manager holds slightly less at 12.74 million, or about 2.77% of the stock, which is worth about $13.25 million.

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