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

McEwen Mining (NYSE:MUX) (TSE:MUX) posted its earnings results on Tuesday. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08), Zacks reports. McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. The firm had revenue of $52.25 million during the quarter, compared to analyst estimates of $48.60 million. During the same quarter last year, the business posted ($0.39) earnings per share.

McEwen Mining Trading Up 2.1 %

Shares of MUX traded up $0.19 during mid-day trading on Thursday, reaching $9.28. The company’s stock had a trading volume of 609,993 shares, compared to its average volume of 660,317. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.07. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50. The company’s fifty day moving average price is $9.57 and its two-hundred day moving average price is $9.96. The stock has a market cap of $473.93 million, a PE ratio of 5.01 and a beta of 1.43.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MUX shares. StockNews.com raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a report on Wednesday. Roth Mkm decreased their price target on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a report on Thursday. Finally, HC Wainwright upped their price objective on shares of McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research note 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.