McEwen Mining (NYSE:MUX) Issues Earnings Results, Misses Expectations By $0.08 EPS

Posted by Andrew Walz on Nov 7th, 2024

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

McEwen Mining Trading Up 2.0 %

NYSE:MUX traded up $0.18 during mid-day trading on Thursday, reaching $9.27. The company’s stock had a trading volume of 716,362 shares, compared to its average volume of 660,809. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21. The stock has a market cap of $473.42 million, a P/E ratio of 5.01 and a beta of 1.43. The company’s fifty day simple moving average is $9.57 and its two-hundred day simple moving average is $9.96. McEwen Mining has a twelve month low of $5.92 and a twelve month high of $12.50.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com raised McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday. HC Wainwright increased their price objective on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Roth Mkm cut their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research note on Thursday.

Check Out Our Latest Stock Report on McEwen Mining

McEwen Mining Company Profile

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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.