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

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

McEwen Mining Price Performance

McEwen Mining stock traded up $0.18 during mid-day trading on Thursday, reaching $9.27. The company had a trading volume of 716,362 shares, compared to its average volume of 660,809. The stock’s 50-day simple moving average is $9.57 and its 200-day simple moving average is $9.96. McEwen Mining has a 1 year low of $5.92 and a 1 year high of $12.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21. The company has a market capitalization of $473.42 million, a P/E ratio of 5.01 and a beta of 1.43.

Analyst Upgrades and Downgrades

MUX has been the topic of a number of analyst reports. HC Wainwright lifted their price objective on shares of McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded shares of McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Roth Mkm reduced their price objective on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday.

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.