McEwen Mining (TSE:MUX) Share Price Passes Above 50 Day Moving Average – What’s Next?

McEwen Mining Inc (TSE:MUX) (NYSE:MUX)’s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$22.61 and traded as high as C$26.83. McEwen Mining shares last traded at C$25.68, with a volume of 50,728 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised McEwen Mining to a “strong-buy” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and a consensus price target of C$20.00.

McEwen Mining Trading Down 3.9%

The business has a 50 day moving average of C$22.61 and a two-hundred day moving average of C$16.22. 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$1.40 billion, a price-to-earnings ratio of -102.72 and a beta of 1.73.

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.