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After A Decline Of -16.18% From The High, Can McEwen Mining Inc. (NYSE: MUX) Recover Quickly?

McEwen Mining Inc. (NYSE:MUX)’s traded shares stood at 1.25 million during the last session, with the company’s beta value hitting 1.24. At the close of trading, the stock’s price was $7.91, to imply an increase of 9.71% or $0.7 in intraday trading. The MUX share’s 52-week high remains $9.19, putting it -16.18% down since that peak but still an impressive 64.48% since price per share fell to its 52-week low of $2.81. The company has a valuation of $365.68M, with an average of 0.58 million shares in intraday trading volume over the past 10 days and average of 414.48K shares over the past 3 months.

McEwen Mining Inc. (NYSE:MUX) trade information

After registering a 9.71% upside in the last session, McEwen Mining Inc. (MUX) has traded red over the past five days. The stock hit a weekly high of 8.17 this Friday, 03/17/23, jumping 9.71% in its intraday price action. The 5-day price performance for the stock is 10.47%, and 32.94% over 30 days. With these gigs, the year-to-date price performance is 34.98%. Short interest in McEwen Mining Inc. (NYSE:MUX) saw shorts transact 1.58 million shares and set a 3.75 days time to cover.

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Analysts on Wall Street suggest a consensus price target of $10.56, implying an increase of 25.09% to the stock’s current value. The extremes give us $9.50 and $11.00 for target low and target high price respectively. As such, MUX has been trading -39.06% off suggested target high and -20.1% from its likely low.

McEwen Mining Inc. (MUX) estimates and forecasts

Looking at statistics comparing McEwen Mining Inc. share performance against respective industry, we note that the company has outperformed competitors. McEwen Mining Inc. (MUX) shares are 135.42% up over the last 6 months, with its year-to-date growth rate higher than industry average at 64.33% against 14.10%. The rating firms project that company’s revenue will grow 3.90% compared to the previous financial year.

MUX Dividends

McEwen Mining Inc. has its next earnings report out between May 08 and May 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. McEwen Mining Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

McEwen Mining Inc. insiders hold 17.61% of total outstanding shares, with institutional holders owning 22.16% of the shares at 26.90% float percentage. In total, 22.16% institutions holds shares in the company, led by Van Eck Associates Corporation. As of Dec 30, 2022, the company held over 2.09 million shares (or 4.41% of shares), all amounting to roughly $12.25 million.

The next major institution holding the largest number of shares is Mirae Asset Global Investments Co., Ltd. with 1.16 million shares, or about 2.46% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $3.8 million.

We also have VanEck ETF Trust-VanEck Junior Gold Miners ETF and Global X Fds-Global X Silver Miners ETF as the top two Mutual Funds with the largest holdings of the McEwen Mining Inc. (MUX) shares. Going by data provided on Dec 30, 2022, VanEck ETF Trust-VanEck Junior Gold Miners ETF holds roughly 1.88 million shares. This is just over 3.97% of the total shares, with a market valuation of $11.03 million. Data from the same date shows that the other fund manager holds a little less at 1.1 million, or 2.32% of the shares, all valued at about 6.46 million.

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