By Miguel Garcia
McEwen Mining Inc. (NYSE:MUX) shares, rose in value on Friday, September 24, with the stock price up by 0.46% to the previous day’s close as strong demand from buyers drove the stock to $1.10.
Actively observing the price movement in the recent trading, the stock is buoying the session at $1.09, falling within a range of $1.05 and $1.105. The value of beta (5-year monthly) is 1.16. Referring to stock’s 52-week performance, its high was $1.71, and the low was $0.90. On the whole, MUX has fluctuated by -3.54% over the past month.
With the market capitalization of McEwen Mining Inc. currently standing at about $518.59 million, investors are eagerly awaiting this quarter’s results, scheduled for Oct 27, 2021 – Nov 01, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to $0 for fiscal year -$0.06 and then to about $0.05 by fiscal year 2022. Data indicates that the EPS growth is expected to be 83.80% in 2022, while the next year’s EPS growth is forecast to be 183.30%.
Analysts have estimated the company’s revenue for the quarter at $39.27 million, with a low estimate of $39.15 million and a high estimate of $39.4 million. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $144.11 million, representing an increase of 37.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MUX’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MUX currently trading nearly -3.65% and -3.03% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.47, while the 7-day volatility ratio is showing 5.59% which for the 30-day chart, stands at 5.41%. Furthermore, McEwen Mining Inc. (MUX)’s beta value is 1.17, and its average true range (ATR) is 0.06. The company’s stock has been forecasted to trade at an average price of $1.84 over the course of the next 52 weeks, with a low of $1.75 and a high of $2.10. Based on these price targets, the low is -59.09% off current price, whereas the price has to move -90.91% to reach the yearly target high. Additionally, analysts’ median price of $1.75 is likely to be welcomed by investors because it represents a decrease of -59.09% from the current levels.
A comparison of McEwen Mining Inc. (MUX) with its peers suggests the former has fared considerably weaker in the market. MUX showed an intraday change of 0.46% in today’s session so far, and over the past year, it grew by 11.16%%. In comparison, Hecla Mining Company (HL) has moved higher at 1.30% today and is up 14.87% over the past 12 months. On the other hand, the price of Yamana Gold Inc. (AUY) has fallen -0.25% today. The stock, however, is off -25.51% from where it was a year ago. Additionally, there is a gain of 0.75% for First Majestic Silver Corp. (AG) in recent trading while the stock has seen an overall depriciation of 22.59%% over the past year. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it lost -0.15%. Meanwhile, the Dow Jones Industrial Slipped by -0.14%.
Data on historical trading for McEwen Mining Inc. (NYSE:MUX) indicates that the trading volumes over the past 10 days have averaged 3.45 million and over the past 3 months, they’ve averaged 3.09 million. According to company’s latest data on outstanding shares, there are 459.19 million shares outstanding.