McEwen Mining (NYSE:MUX) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

McEwen Mining (NYSE:MUX) (TSE:MUX) announced its quarterly earnings results on Tuesday. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08), Zacks reports. The firm had revenue of $52.25 million during the quarter, compared to analyst estimates of $48.60 million. McEwen Mining had a net margin of 46.32% and a return on equity of 18.08%. During the same quarter in the prior year, the business earned ($0.39) EPS.

McEwen Mining Stock Performance

NYSE MUX traded up $0.06 on Thursday, reaching $9.15. The stock had a trading volume of 482,742 shares, compared to its average volume of 659,728. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21. McEwen Mining has a 1-year low of $5.92 and a 1-year high of $12.50. The company has a market cap of $467.29 million, a P/E ratio of 5.01 and a beta of 1.43. The firm has a fifty day moving average of $9.57 and a two-hundred day moving average of $9.96.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MUX shares. Roth Mkm cut their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research note on Thursday. HC Wainwright lifted their target price on McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, StockNews.com upgraded shares of McEwen Mining from a “sell” rating to a “hold” rating in a report on Wednesday.

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.