McEwen (NYSE:MUX) Posts Quarterly Earnings Results

McEwen (NYSE:MUX) (TSE:MUX) posted its quarterly earnings results on Monday. The basic materials company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.69), FiscalAI reports. McEwen had a return on equity of 13.48% and a net margin of 32.46%. The company had revenue of $43.64 million for the quarter, compared to analyst estimates of $56.40 million.

McEwen Price Performance

MUX traded up $0.79 during trading on Monday, reaching $16.27. 903,447 shares of the stock were exchanged, compared to its average volume of 1,158,039. The business’s 50 day moving average price is $17.47 and its two-hundred day moving average price is $20.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.61. The company has a market capitalization of $998.27 million, a price-to-earnings ratio of 12.91 and a beta of 1.31. McEwen has a 1 year low of $13.58 and a 1 year high of $29.70.

Wall Street Analyst Weigh In

MUX has been the subject of several recent analyst reports. Roth Capital set a $31.00 price objective on shares of McEwen and gave the company a “buy” rating in a research note on Monday, August 10th. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. HC Wainwright restated a “buy” rating and set a $28.00 target price (down from $29.50) on shares of McEwen in a research report on Friday, August 7th. Wall Street Zen cut shares of McEwen from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of McEwen in a report on Friday, August 28th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, McEwen has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

McEwen Company Profile

McEwen Inc (NYSE: MUX), formerly known as McEwen Mining Inc, is a precious- and base-metals mining and exploration company. The company develops and operates mineral properties with a focus on gold, silver and copper, and also conducts exploration to expand its resource base.

McEwen’s principal gold assets include the Fox Complex in Ontario, Canada, and the Gold Bar mine in Nevada. The Fox Complex includes underground mining and processing infrastructure in the Timmins mining district, while Gold Bar is an open-pit operation in central Nevada.