McEwen Mining (TSE:MUX) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Shares of McEwen Mining Inc (TSE:MUX) (NYSE:MUX) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$24.14 and traded as high as C$24.40. McEwen Mining shares last traded at C$23.80, with a volume of 54,994 shares traded.

Wall Street Analyst Weigh In

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

McEwen Mining Stock Up 3.2%

The company has a debt-to-equity ratio of 8.46, a quick ratio of 1.00 and a current ratio of 1.17. The stock has a market cap of C$1.37 billion, a price-to-earnings ratio of -109.13 and a beta of 1.77. The business’s 50 day moving average is C$24.38 and its 200 day moving average is C$17.46.

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