McEwen (NYSE:MUX) Posts Quarterly Earnings Results, Misses Estimates By $0.69 EPS

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

McEwen Stock Performance

NYSE MUX traded up $0.79 during trading hours on Monday, hitting $16.27. 898,532 shares of the company’s stock traded hands, compared to its average volume of 1,158,039. The business’s fifty day moving average price is $17.47 and its two-hundred day moving average price is $20.61. The company has a current ratio of 2.04, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $998.27 million, a P/E ratio of 12.91 and a beta of 1.31. McEwen has a 52 week low of $13.58 and a 52 week high of $29.70.

Wall Street Analyst Weigh In

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

About McEwen

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.