In the last trading session, 1.42 million shares of the McEwen Mining Inc (NYSE:MUX) were traded, and its beta was 1.52. Most recently the company’s share price was $9.86, and it changed around $0.23 or 2.39% from the last close, which brings the market valuation of the company to $468.25M. MUX currently trades at a discount to its 52-week high of $10.00, offering almost -1.42% off that amount. The share price’s 52-week low was $5.92, which indicates that the current value has risen by an impressive 39.96% since then. We note from McEwen Mining Inc’s average daily trading volume that its 10-day average is 1.04 million shares, with the 3-month average coming to 589.75K.
McEwen Mining Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended MUX as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. McEwen Mining Inc is expected to report earnings per share of -$0.09 for the current quarter.
McEwen Mining Inc (NYSE:MUX) trade information
Instantly MUX has showed a green trend with a performance of 2.39% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 36.75% year-to-date, but still up 12.30% over the last five days. On the other hand, McEwen Mining Inc (NYSE:MUX) is 65.99% up in the 30-day period. We can see from the shorts that 1.11 million shares have been sold at a short interest cover period of 1.66 day(s).
The consensus price target as assigned by Wall Street analysts is $10, which translates to bulls needing to increase their stock price by 1.4% from its current value. Analyst projections state that MUX is forecast to be at a low of $10 and a high of $10.
McEwen Mining Inc (MUX) estimates and forecasts
McEwen Mining Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 50.76 percent over the past six months and at a -126.09% annual growth rate that is well below the industry average of 18.40%. The year-over-year growth rate is expected to be 4.20%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $53.89 million in revenue for the current quarter. 1 analysts expect McEwen Mining Inc to make $57.95 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $46.14 million and $53.09 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 16.80%. Forecasts for the next quarter put sales growth at 9.20%.
MUX Dividends
McEwen Mining Inc’s next quarterly earnings report is expected to be released around May 06 and May 10.
McEwen Mining Inc (NYSE:MUX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 16.75% of McEwen Mining Inc shares, and 21.04% of them are in the hands of institutional investors. The stock currently has a share float of 25.28%. McEwen Mining Inc stock is held by 107 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Dec 30, 2023, it held 4.11% of the shares, which is about 2.03 million shares worth $20.02 million.
Mirae Asset Global Investments Co., Ltd., with 2.15% or 1.06 million shares worth $10.48 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
VanEck ETF Trust-VanEck Junior Gold Miners ETF and Global X Fds-Global X Silver Miners ETF were the top two Mutual Funds as of Jan 30, 2024. The former held 1.82 million shares worth $17.94 million, making up 3.68% of all outstanding shares. On the other hand, Global X Fds-Global X Silver Miners ETF held roughly 0.99 million shares worth around $9.79 million, which represents about 2.01% of the total shares outstanding.
