McEwen Mining (MUX) to Release Quarterly Earnings on Thursday

McEwen Mining (NYSE:MUX) (TSE:MUX) will be issuing its quarterly earnings data before the market opens on Thursday, August 8th. Analysts expect the company to announce earnings of ($0.22) per share for the quarter.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.38). McEwen Mining had a return on equity of 16.46% and a net margin of 44.83%. The business had revenue of $41.23 million for the quarter, compared to analyst estimates of $39.80 million. On average, analysts expect McEwen Mining to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

McEwen Mining Price Performance

NYSE MUX opened at $8.32 on Wednesday. McEwen Mining has a twelve month low of $5.92 and a twelve month high of $12.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.85 and a current ratio of 1.37. The stock has a market capitalization of $424.10 million, a PE ratio of 5.02 and a beta of 1.40. The stock has a 50-day simple moving average of $9.90 and a 200 day simple moving average of $9.43.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MUX shares. HC Wainwright boosted their price objective on McEwen Mining from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Roth Mkm reaffirmed a “buy” rating and issued a $12.00 price target (up previously from $11.00) on shares of McEwen Mining in a report on Friday, May 10th. Finally, StockNews.com cut McEwen Mining from a “hold” rating to a “sell” rating in a report on Thursday, July 11th.

Insider Activity

In other news, CFO Perry Ing sold 23,332 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $9.76, for a total value of $227,720.32. Following the sale, the chief financial officer now directly owns 15,551 shares in the company, valued at approximately $151,777.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Perry Ing sold 23,332 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $9.76, for a total transaction of $227,720.32. Following the sale, the chief financial officer now directly owns 15,551 shares in the company, valued at approximately $151,777.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Carmen L. Diges sold 17,066 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $9.44, for a total value of $161,103.04. Following the sale, the general counsel now owns 10,982 shares in the company, valued at $103,670.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,901 shares of company stock worth $413,353. Company insiders own 17.11% of the company’s stock.

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.