Equities Analysts Offer Predictions for McEwen Mining Inc’s FY2024 Earnings (NYSE:MUX)

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) – Equities researchers at Roth Capital upped their FY2024 earnings estimates for McEwen Mining in a report issued on Monday, October 7th. Roth Capital analyst J. Reagor now forecasts that the basic materials company will post earnings per share of ($0.58) for the year, up from their prior forecast of ($0.73). The consensus estimate for McEwen Mining’s current full-year earnings is ($0.81) per share. Roth Capital also issued estimates for McEwen Mining’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at ($0.15) EPS.

Separately, StockNews.com lowered shares of McEwen Mining from a “hold” rating to a “sell” rating in a research report on Thursday, July 11th.

McEwen Mining Stock Performance

MUX opened at $9.87 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.21 and a current ratio of 1.68. The company has a market cap of $503.10 million, a PE ratio of 6.02 and a beta of 1.44. The stock has a 50-day moving average of $9.11 and a 200-day moving average of $10.05. McEwen Mining has a 52-week low of $5.92 and a 52-week high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The company had revenue of $47.48 million during the quarter, compared to analysts’ expectations of $43.90 million. McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. During the same quarter in the previous year, the company earned ($0.46) EPS.

Hedge Funds Weigh In On McEwen Mining

Several large investors have recently bought and sold shares of MUX. Fifth Third Bancorp acquired a new position in shares of McEwen Mining in the 2nd quarter valued at $32,000. Banque Cantonale Vaudoise bought a new position in McEwen Mining during the second quarter worth about $78,000. Rathbones Group PLC bought a new stake in shares of McEwen Mining in the 2nd quarter valued at approximately $101,000. Paloma Partners Management Co acquired a new position in shares of McEwen Mining in the 1st quarter worth approximately $117,000. Finally, Marshall Wace LLP bought a new position in shares of McEwen Mining during the 2nd quarter worth approximately $214,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.

McEwen Mining Company Profile

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.