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MUX Salt &Light

CQs Edition

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What Next for McEwen Mining Inc. (MUX) After Forming Inverse Head & Shoulders Pattern?

March 21, 2018 - By Darrin Black

The stock of McEwen Mining Inc. (MUX) formed H&SI with $2.11 price target or 6.00 % above the current $1.99 share price. The 8 months Head & Shoulders Inverse reveals low risk for the $670.74M company. This trade was featured by Faxor.com on Mar, 21. If the $2.11 target price is reached, the company’s valuation will be $40.24M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock decreased 0.50% or $0.01 during the last trading session, reaching $1.99. About 1.06 million shares traded. McEwen Mining Inc. (NYSE:MUX) has risen 12.45% since March 21, 2017 and is uptrending. It has underperformed by 4.25% the S&P500.

McEwen Mining Inc. (NYSE:MUX) Ratings Coverage

Among 2 analysts covering McEwen Mining (NYSE:MUX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. McEwen Mining had 10 analyst reports since July 18, 2017 according to SRatingsIntel. The firm earned “Buy” rating on Friday, November 3 by H.C. Wainwright. The stock has “Buy” rating by H.C. Wainwright on Wednesday, October 11. The firm earned “Buy” rating on Friday, August 11 by H.C. Wainwright. The stock of McEwen Mining Inc. (NYSE:MUX) has “Buy” rating given on Tuesday, July 18 by H.C. Wainwright. The stock of McEwen Mining Inc. (NYSE:MUX) has “Buy” rating given on Thursday, November 9 by H.C. Wainwright. The company was maintained on Thursday, October 19 by H.C. Wainwright. The stock of McEwen Mining Inc. (NYSE:MUX) has “Buy” rating given on Thursday, August 3 by H.C. Wainwright. H.C. Wainwright maintained it with “Buy” rating and $5.0 target in Tuesday, January 16 report. The firm earned “Buy” rating on Tuesday, January 16 by Roth Capital.

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Featured Volatile Stock – McEwen Mining Inc (NYSE: MUX)

March 21, 2018 Robert Thomas

McEwen Mining Inc, MUX, NYSE: MUX


U.S. stocks climbed on Tuesday as the Federal Reserve started a two-day monetary policy meeting, with most market participants expecting a rate hike.

The Dow Jones industrial average rose 116.36 points to close at 24,727.27, with Boeing as the best-performing stock. The S&P 500 gained 0.15 percent to end at 2,716.94, with energy leading the gains. The Nasdaq composite advanced 0.27 percent 7,364.30.

Market expectations for a March rate hike are 94.4 percent as of Tuesday afternoon, according to the CME Group’s FedWatch tool. While most market participants expect the Fed to raise rates by 25 basis points, they will also look for clues about whether the central bank will stay on track to hike three times this year or if it anticipates to further tighten policy.

The Fed is planned to make its monetary declarement Wednesday at 2 p.m. ET, with new Chair Jerome Powell set to give his first news conference.

Treasury yields rose ahead of the Fed declarement. The benchmark 10-year note yield traded at 2.885 percent, while the short-term two-year yield rose to 2.341 percent.

Shares of large-cap tech names Netflix and Amazon both closed higher on Tuesday.

In corporate news, shares of Roku rose as much as 4.9 percent after analysts at Oppenheimer upgraded them to perform from underperform, citing catalysts like accelerated cord-cutting trends. (Source: CNBC)

Top Pick for Wednesday: McEwen Mining Inc (NYSE: MUX)

McEwen Mining Inc (NYSE: MUX) has grabbed attention from the analysts when it experienced a change of -0.50% in the last trading session to close at $1.99. A total of 1,064,654 shares exchanged hands during the intra-day trade contrast with its average trading volume of 3.23M shares, while its relative volume stands at 0.33. Relative volume is the comparison of current volume to average volume for the same time of day, and it’s displayed as a ratio. If RVOL is less than 1 it is not In Play on this trading day and Investors may decide not to trade it. If RVOL is above 2 it is In Play and this is more evidence Investors ought to be in the name. When stocks are *very* In Play one can see a RVOL of 5 and above. The higher the RVOL the more In Play the stock is.

Day traders strive to make money by exploiting minute price movements in individual assets (usually stocks, though currencies, futures, and options are traded as well), usually leveraging large amounts of capital to do so, therefore they trade on Stocks in Play. In Play Stocks are volatile enough to produce good risk and reward trading opportunities for both bull and bear traders intraday. Most company stocks have very little volatility. They generally move extremely slowly and they only produce big price swings when the company produces good or bad trading results, which may only happen a couple of times a year at best.

In deciding what to focus on – in a stock, say – a typical day trader looks for three things: liquidity, volatility and trading volume. Liquidity allows an investor to enter and exit a stock at a good price (i.e. tight spreads, or the difference between the bid and ask price of a stock, and low slippage, or the difference between the predictable price of a trade and the actual price). If a stock does not have good liquidity then it may take some time before a broker is able to negotiate a deal to buy or sell a stock and the broker may not be able to get the sell or buy price that the trader is looking for. This is a problem for day traders and it could mean the difference between a profitable and non-profitable trade.

Traders have different rules for what constitutes liquidity and a good guide is the volume of trades and volume of shares that are traded each day. 100,000 shares traded per day would be a minimum for most traders and some require 1,000,000.

Trading volume is a gauge of how many times a stock is bought and sold in a given time period (most commonly, within a day of trading, known as the average daily trading volume – ADTV). A high degree of volume indicates a lot of interest in a stock. Often, a boost in the volume of a stock is a harbinger of a price jump, either up or down.

Volatility is simply a measure of the predictable daily price range—the range in which a day trader operates. More volatility means greater profit or loss. After a recent check, McEwen Mining Inc (NYSE: MUX) stock is found to be 3.55% volatile for the week, while 4.34% volatility is recorded for the month.

Technical’s Snapshot:

The stock has a market cap of $657.40M and the number of outstanding shares has been calculated 330.35M. Based on a recent bid, its distance from 20 days simple moving average is -2.50%, and its distance from 50 days simple moving average is -8.05% while it has a distance of -12.07% from the 200 days simple moving average. The company’s distance from 52-week high price is -39.88% and the current price is 9.34% away from 52-week low price. The company has Relative Strength Index (RSI 14) of 43.18 together with Average True Range (ATR 14) of 0.09.

Stock’s Valuation:

Past 5 years growth of MUX observed at 19.60%, and for the next five years the analysts that follow this company is expecting its growth at N/A. The stock’s price to sales ratio for trailing twelve months is 9.71 and price to book ratio for the most recent quarter is 1.28, whereas price to cash per share for the most recent quarter are 18.68. Its quick ratio for the most recent quarter is 1.50. Analysts mean recommendation for the stock is 2.00. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

Disclaimer: Any news, report, research, and analysis published on Alphabetastock.com are only for information purposes. Alpha Beta Stock (ABS) makes sure to keep the information up to date and correct, but we didn’t suggest or recommend buying or selling of any financial instrument unless that information is subsequently confirmed on your own. Information in this release is fact checked and produced by competent editors of Alpha Beta Stock; however, human error can exist.
Robert Thomas

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Chapman Herald



Market Review: Checking in on Shares of McEwen Mining Inc. (NYSE:MUX)
Posted by Chapman Beat Writer on March 21, 2018 at 10:36 am

Investors have the ability to track Wall Street analyst opinions in order to assist with stock research. Analysts often provide Buy, Sell, or Hold recommendations ratings for companies that they cover. Taking a look at shares McEwen Mining Inc. (NYSE:MUX), we can see that 2 have rated the stock a Strong Buy or Buy, based on data provided by Zacks Research. Checking on the average broker rating, we note that the current score is 1. This recommendation score uses a 1 to 5 scale where a score of 1 would indicate a Buy rating, and a score of 5 would indicate a Sell recommendation.

Many investors may strive to be in the stock market when the bulls are running and out of the market when the bears are in charge. Investors often use multiple strategies when setting up their portfolios. Some may rely solely on fundamental analysis, technical analysis, or a combination of both. Investing can be an extremely tough process. Individual investors often strive to gather and analyze vast amounts of information in order to make educated decisions. Often times, investors may have initial success in the stock market, and then things may turn sour. Confidence may be necessary to make the tougher decisions, but overconfidence may lead to an underperforming portfolio. Overconfidence may cause the investor to make poor decisions because they are relying too heavily on personal interpretations.

Individual investors might be looking at all the angles in order to concoct a winning plan for the next few quarters. The diligent investor is typically on the ball and ready to encounter any unforeseen market movements. Monitoring recent stock price activity on shares of McEwen Mining Inc. (NYSE:MUX) we have noted that the stock price has been trading near $1.99. Turning the focus to some historical price information, we note that the stock has moved -16.03% over the previous 12 weeks. Since the start of the year, we note that shares have seen a change of -12.72%. Over the last 4 weeks, shares have seen a change of -9.95%. Over the last 5 sessions, the stock has moved -2.93%. After a recent scan, we can see that the 52-week high is currently $3.29, and the 52-week low is presently $1.83.

Following shares of McEwen Mining Inc. (NYSE:MUX), we can see that the average consensus target price based on contributing analysts is currently $4.13. Wall Street analysts often provide price target projections on where they believe the stock will be headed in the future. Because price target projections are essentially the opinions of covering analysts, they have the ability to vary widely from one analyst to another. Navigating the equity markets can seem daunting at times. Finding ways to identify the important data can make a big difference in sustaining profits into the future. As we move closer to the end of the year, investors will be watching to see which way the momentum shifts and if stocks are still primed to go higher. Investors might choose to rely heavily on analyst research and corresponding target predictions, or they may choose to use them as a guide to supplement their own research.

Zooming in on the current quarter EPS consensus estimate for McEwen Mining Inc. (NYSE:MUX), we see that the current number is 0.01. This EPS estimate is using 2 Wall Street analysts polled by Zacks Research. Last quarter, the company stated a quarterly EPS of -0.03. Sell-side analysts have the task of examining companies and providing estimates relating to future results. These estimates carry a lot of weight on the Street, and earnings hits or misses revolve around these numbers. Sometimes these predictions are very close to the actual reported number, and other times they are not. Many investors will be closely watching which way analyst estimates are being adjusted right before earnings. This may provide some insight on how good or bad the numbers for the quarter are likely to be. Investors might want to take a look at their holdings after the earnings reports to make sure that nothing extremely out of the ordinary after combing through the results.

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Have a good day