Today’s big question for investors is, “what’s going on with McEwen Mining Inc. (NYSE:MUX) stock? Its price is nose-diving -0.09 points, trading at $1.86 levels, and is down -4.62% from its previous close of $1.95. The shares seem to have an active trading volume day with a reported 3253347 contracts so far this session. MUX shares had a relatively better volume day versus average trading capacity of 3.06 million shares, but with a 0.28 billion float and a 0.52% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MUX stock indicates that the average analyst price target is $2.74 per share. This means the stock has a potential increase of 47.31% from where the MUX share price has been trading recently which is between $1.9 and $2.04. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.25.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Penny Stocks to Watch for August 2019” and dated August 04, 2019.
During the recent trading session for McEwen Mining Inc. (NYSE:MUX), the company witnessed their stock drop by $-0.06 over a week and surge $0.14 from the price 20 days ago. When compared to their established 52-week high of $2.44, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/23/18. The recent low of $1.23 stood for a -23.77% since 05/29/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of -0.45 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for McEwen Mining Inc., the two-week RSI stands at 51.94. This figure suggests that MUX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MUX readings is similarly very revealing as it has a stochastic reading of 57.5% at this stage. This figure means that MUX share price today is being neutral.
Technical chart claims that McEwen Mining Inc. (MUX) would settle between $2.03/share to $2.1/share level. However, if the stock price goes below the $1.89 mark, then the market for McEwen Mining Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.82 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.01. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at ROTH Capital, assumed coverage of MUX assigning Buy rating, according to their opinion released on December 11. H.C. Wainwright, analysts launched coverage of McEwen Mining Inc. (NYSE:MUX) stock with a Buy recommendation, according to their flash note issued to investors on June 29. Analysts at H.C. Wainwright, made their first call for the equity with a Buy recommendation, according to a research note that dated back to April 20.
MUX equity has an average rating of 2, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated McEwen Mining Inc. (NYSE:MUX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MUX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 12.72 while for the average stock in the same group, the multiple is 3447.42.
McEwen Mining Inc. (MUX)’s current-quarter revenues are projected to climb by nearly 27.92% to hit $34.41 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -1.12% from $128820 to a noteworthy $127380. At the other end of the current quarter income statement, McEwen Mining Inc. is expected to see its adjusted earnings surge by roughly 75% to hit $-0.01 per share. For the fiscal year, MUX’s earnings are projected to climb by roughly 38.46% to hit $-0.08 per share.