According to Zacks, “U.S. GOLD CORP. is primarily engaged in the precious metal mining business in the continental United States, however, it may also evaluate properties outside the United States. “
A number of other analysts have also recently commented on the company. ValuEngine raised McEwen Mining from a hold rating to a buy rating in a research note on Monday, June 17th. HC Wainwright upped their price target on McEwen Mining from $2.50 to $3.50 and gave the company a buy rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. McEwen Mining presently has an average rating of Buy and a consensus target price of $3.85.
Shares of NYSE:MUX traded down $0.02 on Tuesday, hitting $1.65. The stock had a trading volume of 154,053 shares, compared to its average volume of 3,744,790. McEwen Mining has a twelve month low of $1.23 and a twelve month high of $2.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 1.90. The firm’s 50 day moving average price is $1.90 and its 200-day moving average price is $1.65. The company has a market capitalization of $620.85 million, a price-to-earnings ratio of -13.08 and a beta of -0.47.
McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Tuesday, July 30th. The basic materials company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.03). McEwen Mining had a negative net margin of 55.09% and a negative return on equity of 11.81%. The firm had revenue of $36.38 million during the quarter, compared to analyst estimates of $34.92 million. As a group, sell-side analysts predict that McEwen Mining will post -0.06 EPS for the current year.
In other McEwen Mining news, Director Richard W. Brissenden sold 25,000 shares of McEwen Mining stock in a transaction on Friday, August 9th. The stock was sold at an average price of $2.01, for a total value of $50,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.70% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in shares of McEwen Mining by 150.9% in the second quarter. Tower Research Capital LLC TRC now owns 14,300 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 8,600 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in shares of McEwen Mining by 134.8% in the first quarter. Pictet Asset Management Ltd. now owns 24,732 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 14,200 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of McEwen Mining in the second quarter valued at about $51,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of McEwen Mining in the first quarter worth about $45,000. Finally, First Republic Investment Management Inc. increased its holdings in shares of McEwen Mining by 39.1% in the first quarter. First Republic Investment Management Inc. now owns 35,050 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 9,850 shares during the last quarter. 25.42% of the stock is owned by institutional investors and hedge funds.
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.
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