McEwen Mining (TSE:MUX) Stock Price Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• McEwen Mining's stock price has crossed above its 50-day moving average, reaching a high of C$15.76, with the last trade at C$15.40.
• Analysts have given McEwen Mining a consensus rating of "Strong Buy" and set a target price of C$20.00, indicating confidence in the company's growth potential.
• The company's current financial ratios suggest a debt-to-equity ratio of 8.46 alongside a market capitalization of C$582.12 million, reflecting its financial health.

McEwen Mining Inc (TSE:MUX - Get Free Report) NYSE: MUX's stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$14.43 and traded as high as C$15.76. McEwen Mining shares last traded at C$15.40, with a volume of 122,732 shares traded.

Wall Street Analysts Forecast Growth

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

McEwen Mining Trading Up 2.5%

The company has a debt-to-equity ratio of 8.46, a quick ratio of 1.00 and a current ratio of 1.17. The firm has a market capitalization of C$582.12 million, a price-to-earnings ratio of 5.55 and a beta of 1.45. The company has a 50 day moving average price of C$14.43 and a two-hundred day moving average price of C$12.10.

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.

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