McEwen Mining (TSE:MUX) Stock Price Crosses Above 50-Day Moving Average – Time to Sell?

McEwen Mining Inc (TSE:MUX) (NYSE:MUX)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$24.75 and traded as high as C$25.02. McEwen Mining shares last traded at C$24.68, with a volume of 74,564 shares changing hands.

Wall Street Analysts Forecast Growth

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

McEwen Mining Stock Performance

The company has a current ratio of 1.17, a quick ratio of 1.00 and a debt-to-equity ratio of 8.46. The firm has a market cap of C$1.34 billion, a PE ratio of -107.30 and a beta of 1.77. The stock’s 50 day moving average price is C$24.75 and its 200 day moving average price is C$17.88.

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

McEwen Mining Company Profile

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.