Analysts Issue Forecasts for McEwen Mining Inc’s FY2023 Earnings (NYSE:MUX)

McEwen Mining Inc (NYSE:MUX – Get Rating) (TSE:MUX) – Equities research analysts at HC Wainwright issued their FY2023 earnings per share (EPS) estimates for shares of McEwen Mining in a research report issued on Wednesday, March 15th. HC Wainwright analyst H. Ihle expects that the basic materials company will earn ($0.73) per share for the year. HC Wainwright currently has a “Buy” rating and a $10.75 target price on the stock. The consensus estimate for McEwen Mining’s current full-year earnings is ($0.61) per share.

McEwen Mining Trading Up 9.7 %

Shares of MUX stock opened at $7.91 on Friday. McEwen Mining has a 1-year low of $2.81 and a 1-year high of $9.19. The stock’s 50-day moving average is $6.66 and its 200 day moving average is $5.20. The company has a quick ratio of 1.14, a current ratio of 0.97 and a debt-to-equity ratio of 0.15.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sigma Planning Corp purchased a new position in shares of McEwen Mining in the fourth quarter worth about $100,000. Toronto Dominion Bank grew its holdings in McEwen Mining by 37.9% in the fourth quarter. Toronto Dominion Bank now owns 20,000 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 5,500 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in McEwen Mining in the fourth quarter valued at approximately $122,000. Algert Global LLC acquired a new stake in McEwen Mining in the fourth quarter valued at approximately $141,000. Finally, PDT Partners LLC acquired a new stake in McEwen Mining in the fourth quarter valued at approximately $154,000. 19.39% of the stock is currently owned by hedge funds and other institutional investors.

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.