Roth Capital Analysts Boost Earnings Estimates for McEwen Mining Inc (NYSE:MUX)

McEwen Mining Inc (NYSE:MUXFree Report) (TSE:MUX) – Investment analysts at Roth Capital boosted their Q1 2024 EPS estimates for McEwen Mining in a report issued on Monday, March 4th. Roth Capital analyst J. Reagor now expects that the basic materials company will earn ($0.03) per share for the quarter, up from their prior forecast of ($0.18). The consensus estimate for McEwen Mining’s current full-year earnings is ($0.30) per share. Roth Capital also issued estimates for McEwen Mining’s Q2 2024 earnings at $0.02 EPS, Q3 2024 earnings at $0.00 EPS, Q4 2024 earnings at ($0.01) EPS and FY2024 earnings at ($0.02) EPS.

Several other brokerages also recently commented on MUX. StockNews.com upgraded McEwen Mining to a “sell” rating in a research note on Monday, November 13th. TheStreet raised McEwen Mining from a “d” rating to a “c” rating in a research note on Friday, March 1st. Finally, HC Wainwright reduced their price objective on McEwen Mining from $18.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday.

View Our Latest Stock Report on McEwen Mining

McEwen Mining Price Performance

Shares of NYSE:MUX opened at $8.07 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.84 and a current ratio of 2.35. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $10.00. The firm has a market cap of $383.24 million, a PE ratio of 7.08 and a beta of 1.46. The firm’s fifty day moving average is $6.73 and its 200-day moving average is $7.05.

Hedge Funds Weigh In On McEwen Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC purchased a new position in shares of McEwen Mining during the 2nd quarter worth about $474,000. Cambridge Investment Research Advisors Inc. grew its holdings in McEwen Mining by 5.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 59,342 shares of the basic materials company’s stock valued at $386,000 after purchasing an additional 3,245 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in McEwen Mining by 2.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,041,114 shares of the basic materials company’s stock valued at $6,767,000 after buying an additional 20,549 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of McEwen Mining during the second quarter valued at about $184,000. Finally, Rathbones Group PLC purchased a new position in shares of McEwen Mining during the 3rd quarter valued at approximately $74,000. 19.63% of the stock is owned by institutional investors and hedge funds.

About McEwen Mining

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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.

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