Stock Rating Upgrade
Recently the Value Trend Rating for McEwen Mining Inc (NYSE: MUX) rose significantly from F to C reflecting improving fundamentals and high Appreciation Potential.
Recent Price Action
McEwen Mining Inc (NYSE: MUX) stock closed at $8.12 on 3/8/24 after a modest gain of 0.7%. Moreover, this advance was accompanied by above average trading volume at 129% of normal. The stock has risen 32.2% during the last week but has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
MUX is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
McEwen Mining has a current Value Trend Rating of C (Neutral). This VT Rating rose significantly in recent days from F previously. The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. McEwen Mining has a good Appreciation Score of 78 but a slightly negative Power Rating of 33, producing the Neutral Value Trend Rating.
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