McEwen Mining (NYSE:MUX) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

McEwen Mining (NYSE:MUX) (TSE:MUX) announced its earnings results on Tuesday. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08), Zacks reports. The business had revenue of $52.25 million for the quarter, compared to the consensus estimate of $48.60 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. During the same quarter in the prior year, the company earned ($0.39) EPS.

McEwen Mining Stock Down 5.1 %

Shares of MUX stock traded down $0.47 during mid-day trading on Friday, reaching $8.80. 295,138 shares of the company’s stock traded hands, compared to its average volume of 659,132. The company’s 50-day moving average price is $9.57 and its 200-day moving average price is $9.95. The company has a market cap of $465.70 million, a P/E ratio of 4.23 and a beta of 1.43. The company has a quick ratio of 1.21, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. McEwen Mining has a 12 month low of $5.92 and a 12 month high of $12.50.

Wall Street Analysts Forecast Growth

MUX has been the topic of a number of research analyst reports. HC Wainwright boosted their price objective on shares of McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded shares of McEwen Mining from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Roth Mkm lowered their price objective on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a report on Thursday.

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.