According to Zacks, “U.S. GOLD CORP. is primarily engaged in the precious metal mining business in the continental United States, however, it may also evaluate properties outside the United States. “
Other analysts also recently issued research reports about the stock. B. Riley decreased their price target on shares of McEwen Mining from $4.20 to $3.80 and set a “buy” rating for the company in a research note on Thursday, October 17th. HC Wainwright reissued a “buy” rating and issued a $2.00 price objective on shares of McEwen Mining in a research note on Thursday, December 12th. Finally, ValuEngine upgraded McEwen Mining from a “hold” rating to a “buy” rating in a report on Friday, December 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $2.90.
Shares of MUX stock opened at $1.17 on Wednesday. The stock has a 50 day moving average price of $1.16 and a 200 day moving average price of $1.59. McEwen Mining has a 52-week low of $1.02 and a 52-week high of $2.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.56 and a current ratio of 1.41. The firm has a market capitalization of $425.97 million, a P/E ratio of -9.00 and a beta of -0.65.
McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Wednesday, October 30th. The basic materials company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). McEwen Mining had a negative net margin of 50.01% and a negative return on equity of 11.41%. The business had revenue of $32.69 million during the quarter, compared to the consensus estimate of $36.67 million. As a group, sell-side analysts forecast that McEwen Mining will post -0.11 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its stake in McEwen Mining by 150.9% in the second quarter. Tower Research Capital LLC TRC now owns 14,300 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 8,600 shares during the period. Squarepoint Ops LLC bought a new position in McEwen Mining during the 3rd quarter worth about $34,000. Virtu Financial LLC increased its position in McEwen Mining by 115.5% during the 3rd quarter. Virtu Financial LLC now owns 27,337 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 14,653 shares during the period. Sunbelt Securities Inc. purchased a new position in McEwen Mining during the 3rd quarter valued at about $57,000. Finally, Pictet Asset Management Ltd. increased its position in McEwen Mining by 50.0% during the 2nd quarter. Pictet Asset Management Ltd. now owns 37,098 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 12,366 shares during the period. Hedge funds and other institutional investors own 26.96% 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.
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