As of Wednesday, McEwen Mining Inc.’s (NYSE:MUX) stock closed at $7.33, down from $7.83 the previous day. While McEwen Mining Inc. has underperformed by -6.39%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MUX rose by 38.30%, with highs and lows ranging from $10.00 to $2.81, whereas the simple moving average jumped by 26.65% in the last 200 days.
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Analysis of McEwen Mining Inc. (MUX)
Further, the quarter-over-quarter increase in sales is 36.50%, showing a positive trend in the upcoming months.
One of the most important indicators of McEwen Mining Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -28.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.20, 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.
For any stock, average volume can also provide valuable insight into volatility, and MUX is recording 507.90K average volume. On a monthly basis, the volatility of the stock is set at 4.60%, whereas on a weekly basis, it is put at 4.89%, with a loss of -7.22% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.94, showing growth from the present price of $7.33, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. 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 4.27% in the first quarter. The company now owns 2,180,000 shares of the stock, with a value of $17.88 million, following the purchase of 89,246 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 -2.98%. During the last quarter, the company dropped down -33,889 additional shares for a total stake of worth $9.05 million, bringing number of shares owned by the company to 1,103,690.
During the first quarter, ALPS Advisors, Inc. subtracted a -33,055 position in MUX. BlackRock Fund Advisors purchased an additional 30509.0 shares in the last quarter, increasing its holdings by 5.95%, now holding 0.54 million shares worth $4.46 million. At the end of the first quarter, The Vanguard Group, Inc. increased its MUX holdings by 9.92% and now holds 0.54 million MUX shares valued at $4.45 million with the added 49023.0 shares during the period. MUX shares are owned by institutional investors to the tune of 22.70% at present.
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