McEwen Mining Inc. (MUX) shares are trading at lower $1.14 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $2.10.
To add more color to this target, the company’s high over the last year is $1.91 and the low is $0.53. Over the last 52 weeks, MUX is down -34.10% while the S&P 500 is up 12.59%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, MUX reported a profit of $-8.88 million. McEwen Mining Inc. also saw revenues decrease to $18.29 million. In addition, MUX has free cash flow of -$28.6 million as of 06-2020. The company’s EBITDA came in at -$17.31 million which compares well with its peers.
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MUX Return on Equity (ROE) is -35.40%, and its Return on Assets is -27.50%. All told, it is clear that, MUX needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MUX has a short ratio of 11.04 and outstanding shares of 400.51M.
MUX has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -0.40. McEwen Mining Inc. MUX also noted assets of $504.71 million at the end of the last quarter. Investors should also keep an eye on sector updates as MUX has historically followed its peers on positive news.
All told, McEwen Mining Inc. MUX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MUX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
McEwen Mining Inc. MUX is now commanding a market cap of 484.32M and a float of 318.08M. MUX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MUX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in MUX, either long or short, and we have not been compensated for this article.