McEwen Mining (NYSE:MUX) Announces Earnings Results

McEwen Mining (NYSE:MUX) (TSE:MUX) posted its earnings results on Tuesday. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08), Zacks reports. The company had revenue of $52.25 million for the quarter, compared to analysts’ expectations of $48.60 million. McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. During the same quarter in the prior year, the company earned ($0.39) EPS.

McEwen Mining Price Performance

Shares of NYSE MUX traded up $0.18 during midday trading on Thursday, hitting $9.27. 716,362 shares of the company’s stock were exchanged, compared to its average volume of 660,809. The business’s fifty day moving average price is $9.57 and its two-hundred day moving average price is $9.96. The company has a market cap of $473.42 million, a price-to-earnings ratio of 5.01 and a beta of 1.43. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.07. McEwen Mining has a 12-month low of $5.92 and a 12-month high of $12.50.

Wall Street Analyst Weigh In

MUX has been the subject of several analyst reports. StockNews.com upgraded McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday. Roth Mkm cut their price objective on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday. Finally, HC Wainwright upped their target price on shares of McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday.

McEwen Mining Company Profile

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.