McEwen Mining (TSE:MUX) Sets New 52-Week High – Still a Buy?

McEwen Mining Inc (TSE:MUX) (NYSE:MUX)’s share price reached a new 52-week high on Thursday . The stock traded as high as C$36.82 and last traded at C$36.31, with a volume of 98563 shares. The stock had previously closed at C$32.88.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upgraded McEwen Mining to a “strong-buy” rating in a research report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, McEwen Mining has an average rating of “Strong Buy” and an average target price of C$20.00.

McEwen Mining Stock Up 9.3%

The firm’s 50 day moving average is C$26.86 and its 200-day moving average is C$22.25. The firm has a market cap of C$2.13 billion, a PE ratio of -156.30 and a beta of 1.61. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 8.46.

McEwen Mining (TSE:MUX) (NYSE:MUX) last released its earnings results on Wednesday, November 5th. The company reported C($0.01) EPS for the quarter. The firm had revenue of C$70.36 million during the quarter. McEwen Mining had a return on equity of 20.89% and a net margin of 51.59%. As a group, equities research analysts expect that McEwen Mining Inc will post 0.0677185 earnings per share for the current fiscal year.

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. It also owns interests in the Fuller, Davidson-Tisdale, Buffalo Ankerite, and Paymaster exploration properties located in Canada; and a 49% interest in the San José mine located in Argentina.