McEwen Mining Inc (NYSE:MUX – Free Report) (TSE:MUX) – Equities researchers at Roth Capital upped their FY2024 earnings per share estimates for McEwen Mining in a report released on Monday, October 7th. Roth Capital analyst J. Reagor now forecasts that the basic materials company will post earnings of ($0.58) per share for the year, up from their previous estimate of ($0.73). The consensus estimate for McEwen Mining’s current full-year earnings is ($0.81) per share. Roth Capital also issued estimates for McEwen Mining’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at ($0.15) EPS.
McEwen Mining (NYSE:MUX – Get Free Report) (TSE:MUX) last issued its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The business had revenue of $47.48 million for the quarter, compared to analyst estimates of $43.90 million. McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. During the same quarter in the prior year, the firm posted ($0.46) earnings per share.
View Our Latest Research Report on McEwen Mining
McEwen Mining Price Performance
Shares of NYSE:MUX opened at $9.69 on Wednesday. McEwen Mining has a 12 month low of $5.92 and a 12 month high of $12.50. The stock has a market cap of $493.93 million, a price-to-earnings ratio of 5.91 and a beta of 1.44. The stock’s 50 day moving average price is $9.09 and its 200 day moving average price is $10.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21.
Institutional Investors Weigh In On McEwen Mining
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MUX. Cubist Systematic Strategies LLC increased its holdings in shares of McEwen Mining by 28.5% in the second quarter. Cubist Systematic Strategies LLC now owns 96,730 shares of the basic materials company’s stock valued at $888,000 after buying an additional 21,479 shares in the last quarter. Marshall Wace LLP bought a new position in shares of McEwen Mining in the second quarter valued at $214,000. Bank of Montreal Can increased its holdings in shares of McEwen Mining by 100.1% in the second quarter. Bank of Montreal Can now owns 82,905 shares of the basic materials company’s stock valued at $780,000 after buying an additional 41,480 shares in the last quarter. Plancorp LLC bought a new position in shares of McEwen Mining in the second quarter valued at $246,000. Finally, Renaissance Technologies LLC increased its holdings in shares of McEwen Mining by 41.3% in the second quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock valued at $1,808,000 after buying an additional 57,600 shares in the last quarter. Institutional investors own 17.03% of the company’s stock.
About McEwen Mining
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.
Further Reading
- Five stocks we like better than McEwen Mining
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- Pinterest: Time to Jump Onboard for Long-Term Gains?
- Are Penny Stocks a Good Fit for Your Portfolio?
- 4 Best ETFs for Capitalizing on the Semiconductor Market Surge
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- These 3 Stocks Just Spiked—Buy the Rally or Sell the News?
Receive News & Ratings for McEwen Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McEwen Mining and related companies with MarketBeat.com's FREE daily email newsletter.