Wall Street brokerages forecast that McEwen Mining Inc (NYSE:MUX) (TSE:MUX) will post $21.04 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for McEwen Mining’s earnings. The lowest sales estimate is $18.67 million and the highest is $23.41 million. McEwen Mining posted sales of $36.38 million during the same quarter last year, which suggests a negative year over year growth rate of 42.2%. The firm is scheduled to issue its next earnings results on Tuesday, August 4th.
According to Zacks, analysts expect that McEwen Mining will report full-year sales of $127.87 million for the current year, with estimates ranging from $93.89 million to $174.81 million. For the next financial year, analysts anticipate that the firm will report sales of $176.72 million, with estimates ranging from $89.01 million to $284.04 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for McEwen Mining.
McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings results on Tuesday, May 19th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $31.40 million for the quarter, compared to the consensus estimate of $31.66 million. McEwen Mining had a negative return on equity of 13.94% and a negative net margin of 112.02%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can lifted its holdings in McEwen Mining by 200.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 19,839 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 13,236 shares in the last quarter. Islay Capital Management LLC purchased a new stake in shares of McEwen Mining in the 4th quarter valued at about $25,000. Advisor Group Holdings Inc. purchased a new stake in shares of McEwen Mining in the 1st quarter valued at about $32,000. Tower Research Capital LLC TRC raised its holdings in shares of McEwen Mining by 695.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 60,158 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 52,598 shares in the last quarter. Finally, Guild Investment Management Inc. raised its holdings in shares of McEwen Mining by 75.0% in the 4th quarter. Guild Investment Management Inc. now owns 35,000 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 15,000 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of MUX stock traded down $0.01 on Wednesday, hitting $0.91. 3,489,096 shares of the stock were exchanged, compared to its average volume of 4,480,375. The company has a current ratio of 1.53, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $368.61 million, a PE ratio of -2.33 and a beta of 0.65. McEwen Mining has a one year low of $0.53 and a one year high of $2.14. The firm’s 50 day moving average is $0.95 and its two-hundred day moving average is $1.02.
About McEwen Mining
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.
Featured Story: How Do You Calculate Return on Investment (ROI)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for McEwen Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McEwen Mining and related companies with MarketBeat.com's FREE daily email newsletter.