McEwen Mining (TSE:MUX) Stock Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• McEwen Mining's stock price has surpassed its 50-day moving average of C$13.95, trading up to C$14.81, indicating a potential positive trend for the company.
• Analysts at National Bank Financial have upgraded McEwen Mining to a "strong-buy" rating, setting a target price of C$20.00 for the stock.
• The company boasts a market capitalization of C$530.71 million, with a P/E ratio of 5.06, positioning it as a potentially undervalued investment opportunity.

McEwen Mining Inc (TSE:MUX - Get Free Report) NYSE: MUX passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$13.95 and traded as high as C$14.81. McEwen Mining shares last traded at C$14.04, with a volume of 88,666 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MUX shares. National Bank Financial raised shares of McEwen Mining to a "strong-buy" rating in a report on Tuesday, April 29th. National Bankshares set a C$20.00 price objective on shares of McEwen Mining and gave the company an "outperform" rating in a report on Wednesday, April 30th.

McEwen Mining Stock Up 2.7%

The company has a market capitalization of C$545.07 million, a price-to-earnings ratio of 5.20 and a beta of 1.45. The business's 50-day moving average is C$14.01 and its 200-day moving average is C$11.89. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 8.46.

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.