McEwen Mining (TSE:MUX) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

McEwen Mining Inc (TSE:MUX) (NYSE:MUX) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$25.97 and traded as high as C$27.59. McEwen Mining shares last traded at C$26.72, with a volume of 76,705 shares.

Analyst Upgrades and Downgrades

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

McEwen Mining Stock Up 2.5%

The company has a market capitalization of C$1.46 billion, a PE ratio of -116.17 and a beta of 1.40. The company has a debt-to-equity ratio of 8.46, a quick ratio of 1.00 and a current ratio of 1.17. The company’s 50-day moving average is C$25.97 and its 200 day moving average is C$19.71.

McEwen Mining (TSE:MUX) (NYSE:MUX) last issued its earnings results on Wednesday, November 5th. The company reported C($0.01) earnings per share (EPS) for the quarter. McEwen Mining had a return on equity of 20.89% and a net margin of 51.59%.The firm had revenue of C$70.36 million during the quarter. As a group, analysts anticipate that McEwen Mining Inc will post 0.0677185 EPS for the current 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.