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

McEwen Mining (NYSE:MUX) (TSE:MUX) posted its quarterly earnings results on Tuesday. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08), Zacks reports. The business had revenue of $52.25 million for the quarter, compared to analyst estimates of $48.60 million. McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. During the same period last year, the firm posted ($0.39) EPS.

McEwen Mining Trading Up 0.7 %

Shares of McEwen Mining stock traded up $0.06 on Thursday, reaching $9.15. 482,742 shares of the company’s stock were exchanged, compared to its average volume of 659,728. The firm’s 50-day moving average is $9.57 and its two-hundred day moving average is $9.96. The company has a market capitalization of $467.29 million, a P/E ratio of 5.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.21 and a current ratio of 1.68. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MUX shares. HC Wainwright raised their price objective on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Roth Mkm lowered their target price on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research 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.