The share price of McEwen Mining Inc. (NYSE:MUX) rose to $9.15 per share on Tuesday from $8.88. While McEwen Mining Inc. has overperformed by 3.04%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MUX rose by 9.02%, with highs and lows ranging from $8.92 to $2.81, whereas the simple moving average jumped by 83.03% in the last 200 days.
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On September 14, 2020, ROTH Capital started tracking McEwen Mining Inc. (NYSE: MUX) recommending Buy. A report published by B. Riley FBR on September 10, 2019, Initiated its previous ‘Buy’ rating for MUX. ROTH Capital also rated MUX shares as ‘Buy’, setting a target price of $3.25 on the company’s shares in an initiating report dated December 11, 2017. H.C. Wainwright Initiated an Buy rating on June 29, 2015, and assigned a price target of $1.30. H.C. Wainwright initiated its ‘Buy’ rating for MUX, as published in its report on April 20, 2015. Stifel Nicolaus’s report from February 08, 2013 suggests a price prediction of $3.75 for MUX shares, giving the stock a ‘Buy’ rating.
Analysis of McEwen Mining Inc. (MUX)
Further, the quarter-over-quarter decrease in sales is -19.40%, showing a negative trend in the upcoming months.
To gain a thorough understanding of McEwen Mining Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -23.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and MUX is recording an average volume of 452.90K. On a monthly basis, the volatility of the stock is set at 6.52%, whereas on a weekly basis, it is put at 5.33%, with a gain of 10.91% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.56, showing growth from the present price of $9.15, which can serve as yet another indication of whether MUX is worth investing in or should be passed over.
How Do You Analyze McEwen Mining Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 17.61%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 22.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in MUX shares?
The recent increase in stakes in MUX appears to be a result of several institutional investors and hedge funds increasing their positions. Van Eck Associates Corp.’s position in MUX has increased by 2.37% in the first quarter. The company now owns 2,090,754 shares of the stock, with a value of $14.22 million, following the purchase of 48,333 additional shares during the last quarter. Global X Management Co. LLC made another decreased to its shares in MUX during the first quarter, downing its stake by -2.34%. During the last quarter, the company picked up -27,226 additional shares for a total stake of worth $7.74 million, bringing number of shares owned by the company to 1,137,579.
During the first quarter, Jane Street Capital LLC added a 360,063 position in MUX. ALPS Advisors, Inc. sold an additional -0.12 million shares in the last quarter, decreasing its holdings by -17.49%, now holding 0.59 million shares worth $3.98 million. At the end of the first quarter, BlackRock Fund Advisors decreased its MUX holdings by -47.95% and now holds 0.51 million MUX shares valued at $3.49 million with the lessened -0.47 million shares during the period. MUX shares are owned by institutional investors to the tune of 22.70% at present.
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