FY2024 EPS Estimates for McEwen Mining Cut by Roth Capital

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) – Roth Capital decreased their FY2024 earnings per share (EPS) estimates for McEwen Mining in a report released on Thursday, January 30th. Roth Capital analyst J. Reagor now forecasts that the basic materials company will earn ($0.83) per share for the year, down from their previous forecast of ($0.75). The consensus estimate for McEwen Mining’s current full-year earnings is ($0.68) per share. Roth Capital also issued estimates for McEwen Mining’s Q4 2024 earnings at ($0.13) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at $0.05 EPS, Q4 2025 earnings at $0.04 EPS and FY2025 earnings at ($0.17) EPS.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The firm had revenue of $52.25 million during the quarter, compared to analyst estimates of $48.60 million. During the same quarter last year, the business posted ($0.39) EPS.

MUX has been the subject of a number of other reports. Roth Mkm cut their target price on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research note on Thursday, November 7th. StockNews.com cut McEwen Mining from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th. Finally, HC Wainwright decreased their target price on shares of McEwen Mining from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday.

McEwen Mining Price Performance

Shares of NYSE:MUX opened at $8.23 on Monday. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50. The company has a 50-day moving average price of $8.27 and a 200 day moving average price of $8.91. The company has a market cap of $435.47 million, a P/E ratio of 3.76 and a beta of 1.42. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On McEwen Mining

Several institutional investors have recently modified their holdings of MUX. Quarry LP purchased a new position in McEwen Mining in the 3rd quarter valued at approximately $51,000. Private Advisor Group LLC acquired a new stake in McEwen Mining in the third quarter valued at $99,000. PDT Partners LLC purchased a new position in shares of McEwen Mining in the third quarter valued at $101,000. Virtu Financial LLC raised its stake in shares of McEwen Mining by 32.3% during the 3rd quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock worth $154,000 after buying an additional 4,046 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of McEwen Mining in the 3rd quarter worth about $166,000. Hedge funds and other 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.