Is McEwen Mining Inc (NYSE: MUX) Regain All Of Its Losses Given A 2.26% Dip From High?

During the last session, McEwen Mining Inc (NYSE:MUX)’s traded shares were 1.06 million, with the beta value of the company hitting 1.54. At the end of the trading day, the stock’s price was $11.08, reflecting an intraday gain of 2.59% or $0.28. The 52-week high for the MUX share is $10.83, that puts it up 2.26 from that peak though still a striking 46.57% gain since the share price plummeted to a 52-week low of $5.92. The company’s market capitalization is $526.19M, and the average intraday trading volume over the past 10 days was 1.0 million shares, and the average trade volume was 635.42K shares over the past three months.

McEwen Mining Inc (NYSE:MUX) trade information

McEwen Mining Inc (MUX) registered a 2.59% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.59% in intraday trading to $11.08, hitting a weekly high. The stock’s 5-day price performance is 22.16%, and it has moved by 41.87% in 30 days. Based on these gigs, the overall price performance for the year is 30.81%. The short interest in McEwen Mining Inc (NYSE:MUX) is 1.11 million shares and it means that shorts have 1.66 day(s) to cover.

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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 up 81.34% during the last six months, with a year-to-date growth rate less than the industry average at -126.09% against 17.20. In the rating firms’ projections, revenue will increase 4.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $54.02 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $58.1 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $46.14 million and $53.09 million respectively. In this case, analysts expect current quarter sales to grow by 17.10% and then jump by 9.40% in the coming quarter.

While earnings are projected to return -126.26% in 2024.

MUX Dividends

McEwen Mining Inc is due to release its next quarterly earnings between May 06 and May 10. 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 16.75% of total outstanding shares while institutional holders control 21.04%, with the float percentage being 25.28%. Van Eck Associates Corporation is the largest shareholder of the company, while 107 institutions own stock in it. As of Jun 29, 2023, the company held over 2.0 million shares (or 4.21% of all shares), a total value of $14.36 million in shares.

The next largest institutional holding, with 1.02 million shares, is of Mirae Asset Global Investments Co., Ltd.’s that is approximately 2.15% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $7.34 million.

Also, the Mutual Funds coming in first place with the largest holdings of McEwen Mining Inc (MUX) shares are VanEck ETF Trust-VanEck Junior Gold Miners ETF and Global X Fds-Global X Silver Miners ETF. Data provided on Sep 29, 2023 indicates that VanEck ETF Trust-VanEck Junior Gold Miners ETF owns about 1.81 million shares. This amounts to just over 3.82 percent of the company’s overall shares, with a $11.78 million market value. The same data shows that the other fund manager holds slightly less at 1.0 million, or about 2.10% of the stock, which is worth about $6.49 million.