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Saturday, November 05, 2022 2:29:46 PM
Zacks Equity Research
Fri, November 4, 2022 at 3:55 PM·3 min read
In this article:
MUX
+11.25%
McEwen (MUX) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.37. This compares to loss of $0.40 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 43.24%. A quarter ago, it was expected that this gold and silver mining company would post a loss of $0.20 per share when it actually produced a loss of $0.26, delivering a surprise of -30%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
McEwen , which belongs to the Zacks Mining - Miscellaneous industry, posted revenues of $25.99 million for the quarter ended September 2022, missing the Zacks Consensus Estimate by 13.08%. This compares to year-ago revenues of $37.13 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
McEwen shares have lost about 62.9% since the beginning of the year versus the S&P 500's decline of -22%.
What's Next for McEwen?
While McEwen has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for McEwen: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.30 on $39 million in revenues for the coming quarter and -$1.25 on $132.85 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining - Miscellaneous is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
https://finance.yahoo.com/news/mcewen-mux-reports-q3-loss-225510617.html
Oh Good ole Zacks
Now heres whats really going on
$MUX is a future 10 bagger
and
$MCEWEN COPPER is a future 10 bagger
Recent MUX News
- McEwen Copper Announces $70 Million Financing to Advance the Los Azules Copper Project • GlobeNewswire Inc. • 06/24/2024 09:36:01 PM
- Fox Complex: Extending Mine Life; A New Mine at the Stock Property; Exploration Has Driven the Prospect of Earlier Cash Flow • GlobeNewswire Inc. • 06/20/2024 08:00:00 PM
- McEwen Mining Announces Closing of Flow-Through Financing • GlobeNewswire Inc. • 06/14/2024 12:47:32 PM
- IBN Announces Latest Episode of The MiningNewsWire Podcast featuring Rob McEwen, Chairman and Chief Owner of McEwen Mining Inc. • GlobeNewswire Inc. • 06/13/2024 12:00:00 PM
- McEwen Mining Announces Flow-Through Financing at $14.36 (Cdn$19.59) per Share a 19% Premium to Market • GlobeNewswire Inc. • 05/29/2024 02:52:49 AM
- McEwen Mining: Grey Fox Exploration Update Extending the Production Pipeline: Good Grades Near Surface, Potential at Depth • GlobeNewswire Inc. • 05/27/2024 11:00:00 AM
- Form S-4 - Registration of securities, business combinations • Edgar (US Regulatory) • 05/22/2024 09:23:55 PM
- McEwen Copper Announces Completion of the Feasibility Drilling Program • GlobeNewswire Inc. • 05/16/2024 05:30:40 PM
- McEwen Mining: Q1 2024 Results • GlobeNewswire Inc. • 05/08/2024 08:25:33 PM
- McEwen Mining Q1 2024 Results Conference Call • GlobeNewswire Inc. • 05/06/2024 03:14:03 PM
- McEwen Mining Announces Friendly Acquisition of Timberline Resources • GlobeNewswire Inc. • 04/16/2024 04:31:59 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/01/2024 02:29:09 PM
- McEwen Mining: 2023 Year End and Q4 Results • GlobeNewswire Inc. • 03/01/2024 02:29:28 AM
- McEwen Mining 2023 Results Conference Call • GlobeNewswire Inc. • 02/28/2024 06:57:19 PM
- McEwen Mining: Stock Exploration Update • GlobeNewswire Inc. • 02/28/2024 12:00:00 PM
- McEwen Copper: Update on Assay Results at Los Azules • GlobeNewswire Inc. • 02/26/2024 03:00:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 09:15:34 PM
- McEwen Copper Reports Improved Copper Recovery • GlobeNewswire Inc. • 02/22/2024 06:24:48 PM
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