McEwen Mining (TSE:MUX) Share Price Passes Below Fifty Day Moving Average – Here’s Why

McEwen Mining Inc (TSE:MUX) (NYSE:MUX)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$30.91 and traded as low as C$28.99. McEwen Mining shares last traded at C$29.46, with a volume of 28,559 shares changing hands.

McEwen Mining Stock Down 13.5%

The business has a fifty day simple moving average of C$30.89 and a 200 day simple moving average of C$30.53. The firm has a market cap of C$1.52 billion, a price-to-earnings ratio of 21.58 and a beta of 2.22. The company has a debt-to-equity ratio of 19.65, a current ratio of 1.14 and a quick ratio of 1.00.

McEwen Mining (TSE:MUX) (NYSE:MUX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.65 EPS for the quarter. McEwen Mining had a return on equity of 13.64% and a net margin of 31.39%.The firm had revenue of C$102.95 million during the quarter. As a group, equities analysts forecast that McEwen Mining Inc will post 0.0677185 EPS 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.