McEwen Mining (TSE:MUX) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

McEwen Mining Inc (TSE:MUX) (NYSE:MUX) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$25.59 and traded as low as C$25.12. McEwen Mining shares last traded at C$25.78, with a volume of 58,983 shares changing hands.

Analyst Upgrades and Downgrades

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

McEwen Mining Stock Performance

The company’s 50 day moving average price is C$25.54 and its 200-day moving average price is C$20.54. 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 stock has a market cap of C$1.39 billion, a P/E ratio of -110.78 and a beta of 1.40.

McEwen Mining (TSE:MUX) (NYSE:MUX) last released its quarterly earnings results on Wednesday, November 5th. The company reported C($0.01) EPS for the quarter. The company had revenue of C$70.36 million during the quarter. McEwen Mining had a return on equity of 20.89% and a net margin of 51.59%. Equities analysts forecast that McEwen Mining Inc will post 0.0677185 EPS for the current fiscal year.

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. It also owns interests in the Fuller, Davidson-Tisdale, Buffalo Ankerite, and Paymaster exploration properties located in Canada; and a 49% interest in the San José mine located in Argentina.