The stock of McEwen Mining Inc (NYSE: MUX) has increased by 3.21 when compared to last closing price of 10.89. Despite this, the company has experienced a -4.99% fall in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-18 that Here is how McEwen (MUX) and New Found Gold Corp. (NFGC) have performed compared to their sector so far this year.
Is It Worth Investing in McEwen Mining Inc (NYSE: MUX) Right Now?
The price-to-earnings ratio for McEwen Mining Inc (NYSE: MUX) is above average at 10.73x. The 36-month beta value for MUX is also noteworthy at 1.50. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for MUX is 39.04M, and at present, short sellers hold a 3.39% of that float. The average trading volume of MUX on April 18, 2024 was 752.43K shares.
MUX’s Market Performance
MUX stock saw an increase of -4.99% in the past week, with a monthly gain of 34.29% and a quarterly increase of 71.87%. The volatility ratio for the week is 5.66%, and the volatility levels for the last 30 days are 6.33% for McEwen Mining Inc (MUX). The simple moving average for the past 20 days is 7.34% for MUX’s stock, with a 48.21% simple moving average for the past 200 days.
Analysts’ Opinion of MUX
Many brokerage firms have already submitted their reports for MUX stocks, with ROTH Capital repeating the rating for MUX by listing it as a “Buy.” The predicted price for MUX in the upcoming period, according to ROTH Capital is $2 based on the research report published on September 14, 2020 of the previous year 2020.
B. Riley FBR, on the other hand, stated in their research note that they expect to see MUX reach a price target of $4.20. The rating they have provided for MUX stocks is “Buy” according to the report published on September 10th, 2019.
ROTH Capital gave a rating of “Buy” to MUX, setting the target price at $3.25 in the report published on December 11th of the previous year.
MUX Trading at 32.49% from the 50-Day Moving Average
After a stumble in the market that brought MUX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -8.09% of loss for the given period.
Volatility was left at 6.33%, however, over the last 30 days, the volatility rate increased by 5.66%, as shares surge +25.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +59.26% upper at present.
During the last 5 trading sessions, MUX fell by -4.82%, which changed the moving average for the period of 200-days by +57.04% in comparison to the 20-day moving average, which settled at $10.59. In addition, McEwen Mining Inc saw 55.89% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MUX starting from Ball Ian J, who purchase 2,656 shares at the price of $7.16 back on Jun 23 ’23. After this action, Ball Ian J now owns 2,656 shares of McEwen Mining Inc, valued at $19,012 using the latest closing price.
Stock Fundamentals for MUX
Current profitability levels for the company are sitting at:
- -0.65 for the present operating margin
- 0.08 for the gross margin
The net margin for McEwen Mining Inc stands at 0.37. The total capital return value is set at -0.17. Equity return is now at value 13.40, with 9.31 for asset returns.
Based on McEwen Mining Inc (MUX), the company’s capital structure generated 0.08 points at debt to capital in total, while cash flow to debt ratio is standing at -0.96. The debt to equity ratio resting at 0.08. The interest coverage ratio of the stock is -2.71.
Currently, EBITDA for the company is -71.25 million with net debt to EBITDA at -0.53. When we switch over and look at the enterprise to sales, we see a ratio of 3.34. The receivables turnover for the company is 66.2for trailing twelve months and the total asset turnover is 0.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.76.
Conclusion
In summary, McEwen Mining Inc (MUX) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
