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Why the Market Dipped But McEwen (MUX) Gained Today
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The latest trading session saw McEwen (MUX - Free Report) ending at $11.67, denoting a +0.34% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.95%. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw a decrease of 0.84%.
The the stock of gold and silver mining company has risen by 40.12% in the past month, leading the Basic Materials sector's gain of 4.98% and the S&P 500's gain of 1.78%.
Analysts and investors alike will be keeping a close eye on the performance of McEwen in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 78.57% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $39.8 million, indicating a 14.53% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.30 per share and revenue of $173.25 million, indicating changes of -126.09% and +4.22%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for McEwen. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. McEwen is currently a Zacks Rank #1 (Strong Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why the Market Dipped But McEwen (MUX) Gained Today
The latest trading session saw McEwen (MUX - Free Report) ending at $11.67, denoting a +0.34% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.95%. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw a decrease of 0.84%.
The the stock of gold and silver mining company has risen by 40.12% in the past month, leading the Basic Materials sector's gain of 4.98% and the S&P 500's gain of 1.78%.
Analysts and investors alike will be keeping a close eye on the performance of McEwen in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 78.57% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $39.8 million, indicating a 14.53% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.30 per share and revenue of $173.25 million, indicating changes of -126.09% and +4.22%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for McEwen. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. McEwen is currently a Zacks Rank #1 (Strong Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.