Top investors say McEwen Mining Inc. (MUX) ticks everything they need

McEwen Mining Inc. (NYSE: MUX) stock fell -1.39% on Tuesday to $7.83 against a previous-day closing price of $7.94. With 0.66 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.5 million shares. During the session, the Other Precious Metals & Mining company that operates in wider Basic Materials sector, reached to the highest price of $7.91 whereas the lowest price it dropped to was $7.62. The 52-week range on MUX shows that it touched its highest point at $10.00 and its lowest point at $2.81 during that stretch. It currently has a 1-year price target of $12.94. Beta for the stock currently stands at 1.28.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MUX was up-trending over the past week, with a rise of 1.29%, but this was down by -5.89% over a month. Three-month performance surged to 39.82% while six-month performance rose 60.45%. The stock gained 55.70% in the past year, while it has gained 33.62% so far this year. A look at the trailing 12-month EPS for MUX yields -2.21 with Next year EPS estimates of -1.58.

Float and Shares Shorts:

At present, 47.43 million MUX shares are outstanding with a float of 39.07 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.7 million, which was 3.58% higher than short shares on Mar 30, 2023. In addition to Mr. Robert Ross McEwen as the firm’s Chairman, CEO, Pres & Chief Owner, Mr. Perry Y. Ing B.Com., B.Comm, C.A., C.F.A., CPA, CA, CFA, CPA serves as its Interim Chief Financial Officer.

Institutional Ownership:

Through their ownership of 21.09% of MUX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.86% of MUX, in contrast to 12.34% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in MUX with 4.60% of the stake, Van Eck Associates Corp. holds 2,180,000 shares worth 2,180,000. A second-largest stockholder of MUX, Global X Management Co. LLC, holds 1,103,690 shares, controlling over 2.33% of the firm’s shares. Jane Street Capital LLC is the third largest shareholder in MUX, holding 624,140 shares or 1.32% stake. With a 4.22% stake in MUX, the VanEck Junior Gold Miners ETF is the largest stakeholder. A total of 2,003,293 shares are owned by the mutual fund manager. The Global X Silver Miners ETF, which owns about 2.09% of MUX stock, is the second-largest Mutual Fund holder. It holds 990,355 shares valued at 8.12 million. ALPS Sprott Junior Gold Miners ET holds 1.24% of the stake in MUX, owning 587,849 shares worth 4.82 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, MUX reported revenue of $30.65M and operating income of -$19.08M. The EBITDA in the recently reported quarter was -$13.12M and diluted EPS was -$0.26.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MUX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MUX analysts setting a high price target of $18.50 and a low target of $10.75, the average target price over the next 12 months is $12.94. Based on these targets, MUX could surge 136.27% to reach the target high and rise by 37.29% to reach the target low. Reaching the average price target will result in a growth of 65.26% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded MUX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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