McEwen (NYSE:MUX) Releases Earnings Results, Misses Expectations By $0.69 EPS

McEwen (NYSE:MUX) (TSE:MUX) announced its earnings results on Monday. The basic materials company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.69), FiscalAI reports. The business had revenue of $43.64 million for the quarter, compared to the consensus estimate of $56.40 million. McEwen had a net margin of 32.46% and a return on equity of 13.48%.

McEwen Stock Up 5.1%

Shares of NYSE MUX traded up $0.79 during trading on Monday, reaching $16.27. The company had a trading volume of 898,532 shares, compared to its average volume of 1,158,039. McEwen has a 12-month low of $13.58 and a 12-month high of $29.70. The stock has a market cap of $998.27 million, a PE ratio of 12.91 and a beta of 1.31. The business’s 50-day moving average is $17.47 and its 200 day moving average is $20.61. The company has a quick ratio of 1.61, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MUX. Weiss Ratings reissued a “hold (c)” rating on shares of McEwen in a research report on Friday, August 28th. Roth Capital set a $31.00 price objective on shares of McEwen and gave the stock a “buy” rating in a report on Monday, August 10th. HC Wainwright restated a “buy” rating and issued a $28.00 price objective (down from $29.50) on shares of McEwen in a report on Friday, August 7th. Zacks Research raised shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. Finally, Wall Street Zen lowered shares of McEwen from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, McEwen presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

McEwen Company Profile

McEwen Inc (NYSE: MUX), formerly known as McEwen Mining Inc, is a precious- and base-metals mining and exploration company. The company develops and operates mineral properties with a focus on gold, silver and copper, and also conducts exploration to expand its resource base.

McEwen’s principal gold assets include the Fox Complex in Ontario, Canada, and the Gold Bar mine in Nevada. The Fox Complex includes underground mining and processing infrastructure in the Timmins mining district, while Gold Bar is an open-pit operation in central Nevada.