McEwen Mining Inc. (MUX) Volatility At 7.68%, Should You Add A Position?

163 institutions hold shares in McEwen Mining Inc. (MUX), with 84.5M shares held by insiders accounting for 20.67% while institutional investors hold 22.95% of the company’s shares. The shares outstanding are 403.89M, and float is at 332.62M with Short Float at 16.94%. Institutions hold 18.21% of the Float.

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The top institutional shareholder in the company is Van Eck Associates Corporation with over 19.52 million shares valued at $19.22 million. The investor’s holdings represent 4.55% of the MUX Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 7.25 million shares valued at $7.14 million to account for 1.69% of the shares outstanding. The other top investors are Mirae Asset Global Investments Co., Ltd. which holds 6.8 million shares representing 1.58% and valued at over $6.7 million, while Vanguard Group, Inc. (The) holds 0.97% of the shares totaling 4.18 million with a market value of $4.43 million.

McEwen Mining Inc. (NYSE: MUX) is 28.93% higher on its value in year-to-date trading and has touched a low of $0.53 and a high of $1.60 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MUX stock was last observed hovering at around $1.14 in the last trading session, with the day’s gains setting it 0.13% off its average median price target of $1.88 for the next 12 months. It is also 36.5% off the consensus price target high of $2.00 offered by 4 analysts, but current levels are 25.29% higher than the price target low of $1.70 for the same period.

Currently trading at $1.27, the stock is 10.61% and 20.12% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 14.39 million and changing 11.40% at the moment leaves the stock 18.06% off its SMA200. MUX registered -2.31% loss for a year compared to 6-month loss of 0.00%. The firm has a 50-day simple moving average (SMA 50) of $1.0876 and a 200-day simple moving average (SMA200) of $1.0891.

The stock witnessed a 34.85% gain in the last 1 month and extending the period to 3 months gives it a 29.59%, and is 4.96% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.68% over the week and 9.84% over the month.

McEwen Mining Inc. (MUX) has around 448 employees, a market worth around $593.33M and $109.40M in sales. Fwd P/E is 97.69. Distance from 52-week low is 139.62% and -20.63% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.90%).

McEwen Mining Inc. (MUX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for McEwen Mining Inc. (MUX) is a “Buy”. 4 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

McEwen Mining Inc. is expected to release its quarterly report on 05/06/2021 and quarterly earnings per share for the current quarter are estimated at -$0.01 with sales reaching $28.88M over the same period.The EPS is expected to shrink by -24.10% this year, but quarterly earnings will post -9.50% year-over-year. Quarterly sales are estimated to shrink -10.80% in year-over-year returns.

McEwen Mining Inc. (MUX) Insider Activity

A total of 2 insider transactions have happened at McEwen Mining Inc. (MUX) in the last six months, with sales accounting for 0 and purchases happening 2 times. The most recent transaction is an insider purchase by Mah G. Peter, the company’s CHIEF OPERATING OFFICER. SEC filings show that Mah G. Peter bought 8,000 shares of the company’s common stock on Nov 13 at a price of $1.31 per share for a total of $10480.0. Following the purchase, the insider now owns 8000.0 shares.

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McEwen Mining Inc. (MUX): Who are the competitors?

The company’s main competitors (and peers) include Hecla Mining Company (HL) that is trading 109.73% up over the past 12 months. First Majestic Silver Corp. (AG) is 97.19% up on the 1-year trading charts. Short interest in the company’s stock has risen 1.49% from the last report on Dec 30, 2020 to stand at a total of 55.5 million short shares sold with a short interest ratio of 7.37.

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