McEwen Mining (TSE:MUX) Hits New 52-Week High – Time to Buy?

McEwen Mining Inc (TSE:MUX) (NYSE:MUX) shares hit a new 52-week high on Wednesday . The stock traded as high as C$40.00 and last traded at C$38.91, with a volume of 62561 shares. The stock had previously closed at C$38.04.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised shares of McEwen Mining to a “strong-buy” rating in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Strong Buy” and an average target price of C$20.00.

McEwen Mining Stock Performance

The stock has a market capitalization of C$1.95 billion, a P/E ratio of -142.87 and a beta of 1.61. The stock has a 50 day simple moving average of C$28.66 and a two-hundred day simple moving average of C$23.26. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 8.46.

McEwen Mining (TSE:MUX) (NYSE:MUX) last released its quarterly earnings data on Wednesday, November 5th. The company reported C($0.01) EPS for the quarter. McEwen Mining had a net margin of 51.59% and a return on equity of 20.89%. The company had revenue of C$70.36 million during the quarter. On average, equities analysts forecast that McEwen Mining Inc will post 0.0677185 EPS for the current fiscal year.

About McEwen Mining

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. It also owns interests in the Fuller, Davidson-Tisdale, Buffalo Ankerite, and Paymaster exploration properties located in Canada; and a 49% interest in the San José mine located in Argentina.