The stock price of McEwen Mining Inc (NYSE: MUX) has jumped by 7.09 compared to previous close of 9.10. Despite this, the company has seen a gain of 5.24% in its stock price over the last five trading days. seekingalpha.com reported 2024-07-03 that McEwen Mining receives a “Buy” rating due to improved performance in Nevada and positive prospects in Ontario and Argentina. President Milei’s legislative package in Argentina creates a favorable environment for private initiatives, benefiting the mining industry. Despite recent challenges, McEwen Mining’s Q1-2024 results and growth plans show promise, supported by positive trends in gold and silver prices.
Is It Worth Investing in McEwen Mining Inc (NYSE: MUX) Right Now?
McEwen Mining Inc (NYSE: MUX) has a higher price-to-earnings ratio of 6.31x compared to its average ratio. MUX has 36-month beta value of 1.40. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for MUX is 42.17M, and currently, short sellers hold a 2.97% ratio of that float. The average trading volume of MUX on July 04, 2024 was 848.03K shares.
MUX’s Market Performance
MUX’s stock has seen a 5.24% increase for the week, with a -18.32% drop in the past month and a -12.05% fall in the past quarter. The volatility ratio for the week is 3.97%, and the volatility levels for the past 30 days are at 3.92% for McEwen Mining Inc The simple moving average for the past 20 days is -2.36% for MUX’s stock, with a 15.92% 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 -10.19% 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 -22.04% of loss for the given period.
Volatility was left at 3.92%, however, over the last 30 days, the volatility rate increased by 3.97%, as shares sank -12.75% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -10.58% lower at present.
During the last 5 trading sessions, MUX rose by +4.97%, which changed the moving average for the period of 200-days by +37.87% in comparison to the 20-day moving average, which settled at $9.91. In addition, McEwen Mining Inc saw 35.16% 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 Diges Carmen L, who sale 17,066 shares at the price of $9.44 back on Jun 21 ’24. After this action, Diges Carmen L now owns 10,982 shares of McEwen Mining Inc, valued at $161,103 using the latest closing price.
Ing Perry, the Chief Financial Officer of McEwen Mining Inc, sale 23,332 shares at $9.76 during a trade that took place back on Jun 18 ’24, which means that Ing Perry is holding 15,551 shares at $227,720 based on the most recent closing price.
Stock Fundamentals for MUX
Current profitability levels for the company are sitting at:
- -0.43 for the present operating margin
- 0.06 for the gross margin
The net margin for McEwen Mining Inc stands at 0.45. The total capital return value is set at -0.12. Equity return is now at value 17.88, with 11.85 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 -0.17. The debt to equity ratio resting at 0.08. The interest coverage ratio of the stock is -2.42.
Currently, EBITDA for the company is -71.25 million with net debt to EBITDA at -19.04. When we switch over and look at the enterprise to sales, we see a ratio of 2.99. The receivables turnover for the company is 31.78for trailing twelve months and the total asset turnover is 0.27. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.37.
Conclusion
To put it simply, McEwen Mining Inc (MUX) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
