McEwen Mining (TSE:MUX) Stock Price Crosses Below Fifty Day Moving Average - Time to Sell?

Key Points

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McEwen Mining Inc (TSE:MUX - Get Free Report) NYSE: MUX shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$14.18 and traded as low as C$14.05. McEwen Mining shares last traded at C$14.57, with a volume of 98,970 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MUX. National Bankshares set a C$20.00 price target on McEwen Mining and gave the company an "outperform" rating in a research note on Wednesday, April 30th. National Bank Financial raised McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat.com, McEwen Mining has a consensus rating of "Strong Buy" and an average target price of C$20.00.

McEwen Mining Stock Down 0.9%

The firm has a 50 day simple moving average of C$14.34 and a two-hundred day simple moving average of C$12.05. The company has a debt-to-equity ratio of 8.46, a current ratio of 1.17 and a quick ratio of 1.00. The stock has a market cap of C$566.62 million, a price-to-earnings ratio of 5.40 and a beta of 1.45.

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.