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McEwen (MUX) in Focus: Stocks Tumbles 12.4%

Zacks Equity Research

McEwen Mining Inc. (MUX) saw a big move last session, as the company’s shares fell by over 12% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $2.87–$3.56 in the past one-month time frame, showed a sharp decline on Friday at $3.12.

This slump shouldn’t be too much of a surprise to investors, as this stock in the Mining industry has seen one negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

McEwen currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Some better-ranked stocks in the same space include Antofagasta plc (ANFGY), Anglo American plc (AAUKY) and Augusta Resource Corp. (AZC). While Antofagasta sports a Zacks Rank #1 (Strong Buy), both Anglo American and Augusta Resource carry a Zacks Rank #2 (Buy).

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MCEWEN MINING INC (MUX): Free Stock Analysis Report

ANTOFAGASTA PLC SPN (ANFGY): Free Stock Analysis Report

ANGLO AM PLC ADR (AAUKY): Free Stock Analysis Report

AUGUSTA RESOURCE CORP (AZC): Free Stock Analysis Report

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