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McEwen (MUX) Stock Sinks As Market Gains: What You Should Know
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McEwen (MUX - Free Report) closed the latest trading day at $12.22, indicating a -0.33% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.32%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.35%.
Coming into today, shares of the gold and silver mining company had gained 24.34% in the past month. In that same time, the Basic Materials sector lost 0.53%, while the S&P 500 lost 2%.
The investment community will be closely monitoring the performance of McEwen in its forthcoming earnings report. In that report, analysts expect McEwen to post earnings of -$0.03 per share. This would mark year-over-year growth of 78.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $39.8 million, up 14.53% from the year-ago period.
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 might also notice recent changes to analyst estimates for McEwen. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. McEwen presently features a Zacks Rank of #1 (Strong Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 147, positioning it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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McEwen (MUX) Stock Sinks As Market Gains: What You Should Know
McEwen (MUX - Free Report) closed the latest trading day at $12.22, indicating a -0.33% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.32%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.35%.
Coming into today, shares of the gold and silver mining company had gained 24.34% in the past month. In that same time, the Basic Materials sector lost 0.53%, while the S&P 500 lost 2%.
The investment community will be closely monitoring the performance of McEwen in its forthcoming earnings report. In that report, analysts expect McEwen to post earnings of -$0.03 per share. This would mark year-over-year growth of 78.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $39.8 million, up 14.53% from the year-ago period.
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 might also notice recent changes to analyst estimates for McEwen. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. McEwen presently features a Zacks Rank of #1 (Strong Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 147, positioning it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.