McEwen (NYSE:MUX) Posts Earnings Results, Misses Expectations By $0.70 EPS

McEwen (NYSE:MUX) (TSE:MUX) issued its earnings results on Monday. The basic materials company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.70), FiscalAI reports. McEwen had a return on equity of 13.48% and a net margin of 32.46%. The firm had revenue of $43.64 million during the quarter, compared to the consensus estimate of $56.40 million.

McEwen Stock Up 5.1%

Shares of NYSE:MUX opened at $16.27 on Tuesday. McEwen has a 52-week low of $13.58 and a 52-week high of $29.70. The firm has a market capitalization of $998.25 million, a P/E ratio of 12.91 and a beta of 1.31. The stock has a 50 day moving average price of $17.39 and a 200-day moving average price of $20.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 2.04.

Wall Street Analysts Forecast Growth

MUX has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of McEwen in a report on Friday, August 28th. Wall Street Zen lowered shares of McEwen from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Roth Capital set a $31.00 price objective on shares of McEwen and gave the company a “buy” rating in a research report on Monday, August 10th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective (down from $29.50) on shares of McEwen in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

About McEwen

McEwen Inc, formerly known as McEwen Mining, is a metals exploration and mining company focused on gold, silver and copper. Its activities include operating mines, advancing development projects and exploring for additional mineral resources.

The company’s assets and projects span the United States, Canada, Mexico and Argentina. Its portfolio includes gold and silver properties as well as the Los Azules copper project in Argentina, which is being advanced through its McEwen Copper subsidiary.

McEwen was founded by Rob McEwen, who serves as the company’s chairman and chief executive officer.