FY2024 EPS Estimates for McEwen Mining Reduced by Analyst

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) – Roth Capital dropped their FY2024 earnings per share estimates for shares of McEwen Mining in a research report issued to clients and investors on Thursday, January 30th. Roth Capital analyst J. Reagor now forecasts that the basic materials company will post earnings per share of ($0.83) for the year, down from their previous estimate of ($0.75). The consensus estimate for McEwen Mining’s current full-year earnings is ($0.72) per share. Roth Capital also issued estimates for McEwen Mining’s Q4 2024 earnings at ($0.13) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at $0.05 EPS, Q4 2025 earnings at $0.04 EPS and FY2025 earnings at ($0.17) EPS.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $52.25 million for the quarter, compared to analyst estimates of $48.60 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. During the same quarter in the prior year, the company earned ($0.39) EPS.

A number of other equities analysts have also recently weighed in on the stock. Roth Mkm lowered their price target on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright dropped their price target on McEwen Mining from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, StockNews.com lowered McEwen Mining from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th.

McEwen Mining Price Performance

Shares of NYSE MUX opened at $8.68 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The company has a market cap of $459.08 million, a PE ratio of 3.96 and a beta of 1.42. McEwen Mining has a 1-year low of $5.92 and a 1-year high of $12.50. The stock has a fifty day moving average price of $8.29 and a 200 day moving average price of $8.90.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MUX. Van ECK Associates Corp boosted its position in shares of McEwen Mining by 2.1% in the third quarter. Van ECK Associates Corp now owns 2,163,930 shares of the basic materials company’s stock worth $20,125,000 after buying an additional 45,410 shares during the period. Geode Capital Management LLC increased its holdings in shares of McEwen Mining by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock valued at $4,383,000 after acquiring an additional 25,844 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in McEwen Mining by 66.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock valued at $3,659,000 after purchasing an additional 157,300 shares during the last quarter. Tidal Investments LLC lifted its position in shares of McEwen Mining by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 152,859 shares of the basic materials company’s stock worth $1,422,000 after buying an additional 2,632 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of McEwen Mining in the 4th quarter valued at about $788,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

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.