McEwen Mining (TSE:MUX) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

McEwen Mining Inc (TSE:MUX) (NYSE:MUX) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$25.46 and traded as high as C$26.32. McEwen Mining shares last traded at C$26.17, with a volume of 39,141 shares traded.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised McEwen Mining to a “strong-buy” rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus target price of C$20.00.

McEwen Mining Stock Up 1.6%

The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 8.46. The company has a market capitalization of C$1.43 billion, a price-to-earnings ratio of -113.78 and a beta of 1.77. The business’s 50-day moving average is C$25.46 and its 200-day moving average is C$18.48.

McEwen Mining (TSE:MUX) (NYSE:MUX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C($0.01) earnings per share for the quarter. The company had revenue of C$70.36 million for the quarter. McEwen Mining had a return on equity of 20.89% and a net margin of 51.59%. As a group, equities analysts predict that McEwen Mining Inc will post 0.0677185 earnings per share for the current year.

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.