| McEwen Mining up 2.6% on production | |
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- By Alberto Abaterusso
McEwen Mining Inc. (MUX) climbed 2.6% on Monday to $2.38 per share on the New York Stock Exchange. Argentina. Miners are accessing higher ore grade at El Gallo." data-reactid="13">The rise is attributed to results on improved fourth quarter gold production at El Gallo mine in Mexico and on outputs at Black Fox Mine in Canada and the San Jose Mine in Argentina. Miners are accessing higher ore grade at El Gallo.
The Black Fox Mine was purchased in October and contributed to the company's production of gold equivalent with 14,279 ounces. In 2017, McEwen Mining produced 109,947 ounces of gold and 3,178,742 ounces of silver for a total 152,329 ounces of gold equivalent. The chart below shows the positive trend in the company's annual production of gold and gold equivalent over time. The company will release the financial statements for full fiscal 2017 by the end of February. McEwen has a market capitalization of $802.01 million, a price-book (P/B) ratio of 1.45 versus and industry median of 2.01, a price-sales (P/S) ratio of 13.30 versus an industry median of 1.76 and an EV-EBITDA ratio of -35.96 versus an industry median of 10.14. About McEwen in 2018, I would closely watch the contribution of Black Fox to the company's gold equivalent production development. (Disclosure:I have no positions in McEwen.) This article first appeared on GuruFocus.
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McEwen Mining
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PRODUCER |
CODE : MUX |
ISIN : US58039P1075 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
McEwen Mining is a gold development stage company based in Canada. McEwen Mining produces gold, silver in Argentina and in Mexico, develops gold and silver in Mexico, and holds various exploration projects in Mexico. Its main assets in production are MAGISTRAL MINE in Mexico and SAN JOSE ARGENTINA in Argentina, its main asset in development is EL GALLO MEXICO in Mexico and its main exploration properties are PALMARITO, GOLD PICK AND GOLD RIDGE, TONKIN PROJECT and MAGISTRAL in Mexico and LOS AZULES ARGENTINA and LIMO in Argentina. McEwen Mining is listed in Canada, in Germany and in United States of America. Its market capitalisation is US$ 4.1 billions as of today (€ 3.9 billions). Its stock quote reached its lowest recent point on July 29, 2022 at US$ 0.32, and its highest recent level on April 26, 2024 at US$ 12.26. McEwen Mining has 337 054 594 shares outstanding. |