McEwen Mining (TSE:MUX) Reaches New 1-Year High – Here’s What Happened

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

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised McEwen Mining to a “strong-buy” rating in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Buy” and an average price target of C$20.00.

McEwen Mining Price Performance

The business has a 50 day simple moving average of C$27.89 and a two-hundred day simple moving average of C$22.92. The company has a debt-to-equity ratio of 8.46, a quick ratio of 1.00 and a current ratio of 1.17. The firm has a market capitalization of C$2.34 billion, a P/E ratio of -171.61 and a beta of 1.61.

McEwen Mining (TSE:MUX) (NYSE:MUX) last issued its earnings results on Wednesday, November 5th. The company reported C($0.01) earnings per share (EPS) for the quarter. The firm had revenue of C$70.36 million during the quarter. McEwen Mining had a return on equity of 20.89% and a net margin of 51.59%. On average, sell-side analysts expect that McEwen Mining Inc will post 0.0677185 EPS for the current fiscal year.

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. 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.