McEwen Mining Inc (MUX) stock expected to decline by -7.92%: What’s driving the pessimism?

Currently, McEwen Mining Inc [MUX] is trading at $10.86, down -0.82%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The MUX shares have gain 10.14% over the last week, with a monthly amount glided 37.29%, and seem to be holding up well over a long-time horizon.

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On 29, February 2024, McEwen Mining: 2023 Year End and Q4 Results. In a post published today on Yahoo Finance, 2023 Net income $1.15/share vs. 2022 net loss $1.71/share.

From an analyst’s perspective:

Previously, B. Riley FBR started tracking the stock with Buy rating on September 10, 2019, and set its price target to $4.20. On December 11, 2017, ROTH Capital initiated with a Buy rating and assigned a price target of $3.25 on the stock. H.C. Wainwright initiated its recommendation with a Buy and recommended $1.25 as its price target on April 20, 2015. Stifel Nicolaus started tracking with a Buy rating for this stock on February 08, 2013, and assigned it a price target of $3.75.

This stock has fluctuated between a low of $5.92 and a high of $11.39 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $10 within the next 12 months. McEwen Mining Inc [NYSE: MUX] shares were valued at $10.86 at the most recent close of the market. An investor can expect a potential drop of -7.92% based on the average MUX price forecast.

Analyzing the MUX fundamentals

Trailing Twelve Months sales for McEwen Mining Inc [NYSE:MUX] were 166.23M which represents 107.79% growth. Gross Profit Margin for this corporation currently stands at 0.08% with Operating Profit Margin at -0.65%, Pretax Profit Margin comes in at 0.4%, and Net Profit Margin reading is 0.37%. To continue investigating profitability, this company’s Return on Assets is posted at 0.09, Equity is 0.15 and Total Capital is -0.17. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.08.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 10.00 points at the first support level, and at 9.13 for the second support level. However, for the 1st resistance point, the stock is sitting at 11.33, and for the 2nd resistance point, it is at 11.79.

McEwen Mining Inc [MUX] reported earnings per share of -$0.73 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.28/share, meaning a difference of -$0.45 and a surprise factor of -160.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.52 per share as compared to estimates of -$1 per share, a difference of $0.48 representing a surprise of 48.00%.

Ratios To Look Out For

To put it in perspective, the Current Ratio for McEwen Mining Inc [NYSE:MUX] is 1.76. Further, the Quick Ratio stands at 1.09, while the Cash Ratio is 0.77. Considering the valuation of this stock, the price to sales ratio is 3.10, the price to book ratio is 1.07 and price to earnings (TTM) ratio is 10.37.