Why McEwen Mining Inc. [MUX] Stock Can Charge Below The $0.99 Level

McEwen Mining Inc. [MUX] stock is down -4.37 while the S&P 500 has fallen -0.06% on Thursday, 12/03/20. While at the time of this article, MUX ATR is sitting at 0.05, with the beta value at 0.94. This stock’s volatility for the past week remained at 6.50%, while it was 4.97% for the past 30-day period. MUX has fallen -$0.04 from the previous closing price of $1.03 on volume of 3.57 million shares.

On 30, November 2020, McEwen Mining Update on the San José Mine. According to news published on Yahoo Finance, McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is reporting that a significant increase in COVID-19 infections in the Santa Cruz province in Argentina has resulted in the temporary lockdown of various mines including our 49%-owned San José mine. Production for Q4 is likely to be impacted by the shutdown. Limited operations are expected to resume in the coming days, subject to permission from the authorities.

Analyst Birdseye View:

The most recent analyst activity for McEwen Mining Inc. [NYSE:MUX] stock was on September 10, 2019, when it was Initiated with a Buy rating from B. Riley FBR, which also raised its 12-month price target on the stock to $4.20. Before that, on September 14, 2020, ROTH Capital Recapitulated a Buy rating and elevated its amount target to $2. On December 11, 2017, ROTH Capital Initiated a Buy rating and boosted its price target on this stock to $3.25. On June 29, 2015, H.C. Wainwright Resumed a Buy rating and increased its price target to $1.30. On April 20, 2015, H.C. Wainwright Initiated a Buy rating and increased its price target to $1.25. On February 08, 2013, Stifel Nicolaus Initiated a Buy rating and boosted its amount on this stock to $3.75.

In the past 52 weeks of trading, this stock has oscillated between a low of $0.53 and a peak of $1.53. Right now, according to Wall Street analyst the average 12-month amount target is $1.86. At the most recent market close, shares of McEwen Mining Inc. [NYSE:MUX] were valued at $0.99.

FUNDAMENTAL ANALYSIS

McEwen Mining Inc. [NYSE:MUX] most recently reported quarterly sales of 27.39 billion, which represented growth of -16.20%. This publicly-traded organization’s revenue is $261,203 per employee, while its income is -$133,364 per employee. This company’s Gross Margin is currently -11.00%, its Pretax Margin is -54.34, and its Net Margin is -51.06. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at -9.42, -12.13, -10.05 and -11.02 respectively.

The Principal structure of this organization shows its whole liability to whole principal at 10.19 and the whole liability to whole assets at 8.82. It shows enduring liability to the whole principal at 8.01 and enduring liability to assets at 0.07 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 0.9633 points at 1st support level, the second support level is making up to 0.9417. But as of 1st resistance point, this stock is sitting at 1.0233 and at 1.0617 for 2nd resistance point.

McEwen Mining Inc. [MUX] reported its earnings at -$0.02 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.02/share signifying the difference of 0 and 0.00% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$0.04 calling estimates for -$0.03/share with the difference of -0.01 depicting the surprise of -33.30%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for McEwen Mining Inc. [NYSE:MUX] is 1.60. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.99. Now if looking for a valuation of this stock’s amount to sales ratio it’s 3.93 and it’s amount to book ratio is 1.02.

Insider Stories

The most recent insider trade was by Mah G. Peter, CHIEF OPERATING OFFICER, and it was the purchase of 8000.0 shares on Nov 13.