The stock price of McEwen Mining Inc (NYSE: MUX) has dropped by -2.44 compared to previous close of 9.84. Despite this, the company has seen a gain of 9.09% in its stock price over the last five trading days. globenewswire.com reported 2024-08-19 that TORONTO, Aug. 19, 2024 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported the completion of the previously announced acquisition of all the issued and outstanding common shares of Timberline Resources Corporation (TSXV:TBR)(OTCQB:TLRS) (“Timberline”) by way of a merger between Timberline and a wholly-owned subsidiary of McEwen Mining (the “Transaction”). Timberline shareholders overwhelmingly approved the merger with McEwen Mining at Timberline’s special meeting held on August 16th, 2024.
Is It Worth Investing in McEwen Mining Inc (NYSE: MUX) Right Now?
The price-to-earnings ratio for McEwen Mining Inc (NYSE: MUX) is 5.52x, which is above its average ratio. Moreover, the 36-month beta value for MUX is 1.44. Analysts have varying opinions 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 44.17M and currently, short sellers hold a 3.16% of that float. On August 22, 2024, MUX’s average trading volume was 614.26K shares.
MUX’s Market Performance
The stock of McEwen Mining Inc (MUX) has seen a 9.09% increase in the past week, with a 5.38% rise in the past month, and a -13.51% fall in the past quarter. The volatility ratio for the week is 5.94%, and the volatility levels for the past 30 days are at 5.39% for MUX. The simple moving average for the past 20 days is 8.08% for MUX’s stock, with a 8.90% 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 2.08% 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 -23.20% of loss for the given period.
Volatility was left at 5.39%, however, over the last 30 days, the volatility rate increased by 5.94%, as shares surge +3.16% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.71% lower at present.
During the last 5 trading sessions, MUX rose by +7.73%, which changed the moving average for the period of 200-days by +33.15% in comparison to the 20-day moving average, which settled at $8.90. In addition, McEwen Mining Inc saw 33.15% 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.
Spears Stephan Michael, the VP Corporate Development of McEwen Mining Inc, sale 2,503 shares at $9.80 during a trade that took place back on Jun 18 ’24, which means that Spears Stephan Michael is holding 751 shares at $24,529 based on the most recent closing price.
Stock Fundamentals for MUX
Current profitability levels for the company are sitting at:
- -0.18 for the present operating margin
- 0.11 for the gross margin
The net margin for McEwen Mining Inc stands at 0.47. The total capital return value is set at -0.05. Equity return is now at value 20.30, with 13.99 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 0.53. The debt to equity ratio resting at 0.08. The interest coverage ratio of the stock is -3.55.
Currently, EBITDA for the company is -71.25 million with net debt to EBITDA at 0.05. When we switch over and look at the enterprise to sales, we see a ratio of 2.72. The receivables turnover for the company is 33.9for trailing twelve months and the total asset turnover is 0.29. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.68.
Conclusion
To wrap up, the performance of McEwen Mining Inc (MUX) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. 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.
