Analysts Offer Predictions for McEwen Mining Inc’s FY2023 Earnings (NYSE:MUX)

McEwen Mining Inc (NYSE:MUX – Get Rating) (TSE:MUX) – Research analysts at HC Wainwright issued their FY2023 EPS estimates for McEwen Mining in a research report issued to clients and investors on Wednesday, March 15th. HC Wainwright analyst H. Ihle forecasts that the basic materials company will post earnings per share of ($0.73) for the year. HC Wainwright has a “Buy” rating and a $10.75 price objective on the stock. The consensus estimate for McEwen Mining’s current full-year earnings is ($0.61) per share.

McEwen Mining Stock Up 9.7 %

Shares of NYSE:MUX opened at $7.91 on Friday. McEwen Mining has a 12 month low of $2.81 and a 12 month high of $9.19. The company’s fifty day simple moving average is $6.66 and its 200 day simple moving average is $5.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.14 and a current ratio of 0.97.

Institutional Trading of McEwen Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG raised its position in shares of McEwen Mining by 37.3% in the 2nd quarter. UBS Group AG now owns 83,005 shares of the basic materials company’s stock valued at $36,000 after buying an additional 22,541 shares in the last quarter. Jane Street Group LLC grew its holdings in McEwen Mining by 47.1% during the 2nd quarter. Jane Street Group LLC now owns 121,791 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 38,985 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of McEwen Mining by 5,296.2% in the 1st quarter. JPMorgan Chase & Co. now owns 101,233 shares of the basic materials company’s stock valued at $85,000 after purchasing an additional 99,357 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of McEwen Mining by 2.0% in the 2nd quarter. Toronto Dominion Bank now owns 199,272 shares of the basic materials company’s stock valued at $87,000 after purchasing an additional 3,993 shares during the last quarter. Finally, Sigma Planning Corp acquired a new position in shares of McEwen Mining during the 4th quarter valued at $100,000. Institutional investors own 19.39% of the company’s stock.

About McEwen Mining

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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.