McEwen Mining (TSE:MUX) Shares Pass Below 50 Day Moving Average – Here’s Why

Shares of McEwen Mining Inc (TSE:MUX) (NYSE:MUX) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$29.92 and traded as low as C$24.11. McEwen Mining shares last traded at C$24.62, with a volume of 60,193 shares traded.

McEwen Mining Price Performance

The stock has a market cap of C$1.47 billion, a P/E ratio of 20.86 and a beta of 2.22. The company has a debt-to-equity ratio of 19.65, a quick ratio of 1.00 and a current ratio of 1.14. The business has a 50 day simple moving average of C$29.92 and a 200-day simple moving average of C$30.69.

McEwen Mining (TSE:MUX) (NYSE:MUX) last announced its earnings results on Wednesday, May 6th. The company reported C$0.65 earnings per share (EPS) for the quarter. The firm had revenue of C$102.95 million during the quarter. McEwen Mining had a return on equity of 13.64% and a net margin of 31.39%. On average, sell-side analysts forecast that McEwen Mining Inc will post 0.0677185 EPS 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. 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.