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McEwen (MUX) Stock Slides as Market Rises: Facts to Know Before You Trade
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McEwen (MUX - Free Report) closed the most recent trading day at $11.04, moving -1.95% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq appreciated by 0.12%.
Heading into today, shares of the gold and silver mining company had gained 33.1% over the past month, outpacing the Basic Materials sector's gain of 0.24% and the S&P 500's loss of 0.9% in that time.
The investment community will be closely monitoring the performance of McEwen in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.03, marking a 78.57% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $39.8 million, indicating a 14.53% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.30 per share and a revenue of $173.25 million, demonstrating changes of -126.09% and +4.22%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for McEwen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. McEwen is holding a Zacks Rank of #1 (Strong Buy) right now.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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McEwen (MUX) Stock Slides as Market Rises: Facts to Know Before You Trade
McEwen (MUX - Free Report) closed the most recent trading day at $11.04, moving -1.95% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq appreciated by 0.12%.
Heading into today, shares of the gold and silver mining company had gained 33.1% over the past month, outpacing the Basic Materials sector's gain of 0.24% and the S&P 500's loss of 0.9% in that time.
The investment community will be closely monitoring the performance of McEwen in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.03, marking a 78.57% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $39.8 million, indicating a 14.53% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.30 per share and a revenue of $173.25 million, demonstrating changes of -126.09% and +4.22%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for McEwen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. McEwen is holding a Zacks Rank of #1 (Strong Buy) right now.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.