McEwen Mining (TSE:MUX) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

McEwen Mining Inc (TSE:MUX) (NYSE:MUX)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$25.59 and traded as low as C$25.12. McEwen Mining shares last traded at C$25.78, with a volume of 58,983 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upgraded shares of McEwen Mining to a “strong-buy” rating in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average price target of C$20.00.

McEwen Mining Trading Down 0.8%

The firm has a market cap of C$1.40 billion, a P/E ratio of -112.09 and a beta of 1.40. The company has a current ratio of 1.17, a quick ratio of 1.00 and a debt-to-equity ratio of 8.46. The company’s fifty day moving average price is C$25.59 and its two-hundred day moving average price is C$20.50.

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 (EPS) for the quarter. The firm had revenue of C$70.36 million for the quarter. McEwen Mining had a net margin of 51.59% and a return on equity of 20.89%. As a group, sell-side analysts predict that McEwen Mining Inc will post 0.0677185 EPS for the current fiscal year.

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. It also owns interests in the Fuller, Davidson-Tisdale, Buffalo Ankerite, and Paymaster exploration properties located in Canada; and a 49% interest in the San José mine located in Argentina.