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McEwen (MUX) Increases Despite Market Slip: Here's What You Need to Know
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McEwen (MUX - Free Report) closed the latest trading day at $11.04, indicating a +1.38% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Coming into today, shares of the gold and silver mining company had gained 21.27% in the past month. In that same time, the Basic Materials sector lost 0.37%, while the S&P 500 lost 1.66%.
Market participants will be closely following the financial results of McEwen in its upcoming release. The company's upcoming EPS is projected at -$0.03, signifying a 78.57% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $39.8 million, reflecting a 14.53% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.30 per share and revenue of $173.25 million. These totals would mark changes of -126.09% and +4.22%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for McEwen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. McEwen currently has a Zacks Rank of #1 (Strong Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 151, placing it within the bottom 41% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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McEwen (MUX) Increases Despite Market Slip: Here's What You Need to Know
McEwen (MUX - Free Report) closed the latest trading day at $11.04, indicating a +1.38% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Coming into today, shares of the gold and silver mining company had gained 21.27% in the past month. In that same time, the Basic Materials sector lost 0.37%, while the S&P 500 lost 1.66%.
Market participants will be closely following the financial results of McEwen in its upcoming release. The company's upcoming EPS is projected at -$0.03, signifying a 78.57% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $39.8 million, reflecting a 14.53% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.30 per share and revenue of $173.25 million. These totals would mark changes of -126.09% and +4.22%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for McEwen. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. McEwen currently has a Zacks Rank of #1 (Strong Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 151, placing it within the bottom 41% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.