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

McEwen Mining (NYSE:MUX) (TSE:MUX) announced its earnings results on Tuesday. The basic materials company reported ($0.04) EPS 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 the consensus estimate of $48.60 million. During the same quarter last year, the business earned ($0.39) EPS.

McEwen Mining Stock Up 2.0 %

MUX traded up $0.18 during trading hours on Thursday, hitting $9.27. 716,362 shares of the company’s stock were exchanged, compared to its average volume of 660,817. McEwen Mining has a 1-year low of $5.92 and a 1-year high of $12.50. The stock has a market cap of $473.42 million, a price-to-earnings ratio of 5.01 and a beta of 1.43. The company has a quick ratio of 1.21, a current ratio of 1.68 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $9.57 and its two-hundred day moving average is $9.96.

Analyst Upgrades and Downgrades

MUX has been the subject of several research analyst reports. StockNews.com upgraded shares of McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday. Roth Mkm reduced their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research note on Thursday. Finally, HC Wainwright boosted their target price on McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday.

About McEwen Mining

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.