McEwen Mining Inc (MUX)

[JD400]

$MUX the "Midnight Special "was dubbed back in the old U S Gold days on this board when we had a good bounce.

So without further a due I thought I'd play it again like we did back in the day

anybody remember?

Performance
1 week +25%
1 month +3.62%
3 month +28.14
6 month +135.97%
YTD +21.39%
1 year -7.13%

McEwen Mining (NYSE: MUX) (TSX: MUX) Lays Groundwork To Capitalize On Opportunities In Copper Industry
Investor Brand Network - Mon Feb 27, 2:03PM CST Partnership Content
Copper is well known for its growing demand in many industries, including renewable energy sources required for net-zero carbon emission goals implemented by over 70 countries
The copper market is now expected to reach $446.7 billion by 2030, growing from $291.1 billion in 2021
McEwen Mining is a 68% shareholder in McEwen Copper’s Los Azules project, giving it 100% interest in what could soon become the world’s next copper unicorn
More than 70 countries worldwide, including the United States, China, and the European Union, have set goals to reach net-zero carbon emissions – with promises of cutting current emissions in half by 2030. With the current energy sources responsible for greenhouse gas emissions, replacing traditional fossil fuels with renewable energy sources is key to reducing carbon emissions (https://ibn.fm/Z8rzL). Traditionally used in construction projects, copper now plays a vital role in this initiative due to its versatile use across multiple industries, including renewable energy, electric car components, and numerous technological applications, all of which is combining to drive demand. The global copper market is expected to reach $446.7 billion by 2030, growing from $291.1 billion in 2021 (https://ibn.fm/9cO6g).

McEwen Mining (NYSE:MUX) (TSX:MUX.TO), an asset-rich, diversified gold and silver producer in the Americas with large exposure to copper through its subsidiary, McEwen Copper, owns and operates mines in some of the world’s most prolific mineral producing regions in the…

Read More>> https://www.barchart.com/story/news/14597786/mcewen-mining-nyse-mux-tsx-mux-lays-groundwork-to-capitalize-on-opportunities-in-copper-industry

McEwen (MUX) Soars 8.8%: Is Further Upside Left In The Stock?

Zacks Equity Research - Zacks - Wed Mar 1, 2:47AM CST

McEwen (MUX) shares ended the last trading session 8.8% higher at $6.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.5% loss over the past four weeks.

Shares of McEwen Mining Inc. have gained following the announcement that Nuton LLC, a Rio Tinto RIO Venture will make an additional $30 million investment in MUX’s subsidiary McEwen Copper Inc..

Per the agreement, Nuton will acquire shares of McEwen Copper in a two-part transaction which consists a private placement of 350,000 McEwen Copper common shares and purchase of 1,250,000 common shares owned by McEwen Mining in a secondary sale. Proceeds of the subscription and purchase are expected to be around $6.5 million to McEwen Copper and $23.5 million McEwen Mining, respectively.

The proceeds of the private placement will be used to advance development of the Los Azules copper project in San Juan, Argentina, and for general corporate purposes. After closing of deal, which is expected by Mar 10, 2023, Nuton will own 14.2% of McEwen Copper on a fully diluted basis, and McEwen Mining will own 51.9%.

This gold and silver mining company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of +54%. Revenues are expected to be $29.4 million, down 16% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For McEwen, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MUX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

McEwen belongs to the Zacks Mining - Miscellaneous industry. Another stock from the same industry, American Resources Corporation (AREC), closed the last trading session 0.3% higher at $1.63. Over the past month, AREC has returned 5.5%.

For American Resources Corporation, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents a change of +83.3% from what the company reported a year ago. American Resources Corporation currently has a Zacks Rank of #3 (Hold). https://www.barchart.com/story/news/14659710/mcewen-mux-soars-88-is-further-upside-left-in-the-stock

$MUX Barchart
https://www.barchart.com/stocks/quotes/MUX

any kind of pull back will probably be healthy considering the terror this stock is on last couple of days

GLTA

Go $MUX......
............Go Green......
.....Go McEwen Copper...