Why McEwen Mining Inc's Shares Plunged 10% Today [The Motley Fool]
McEwen Mining Inc. (MUX)
Last mcewen mining inc. earnings: 3/16 05:01 pm
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US:NYSE Investor Relations:
mcewenmining.com/investor-relations/stock-information/default.aspx
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Source: The Motley Fool
Weak earnings and rising costs are hurting this gold miner today. What happened Shares of McEwen Mining Inc ( NYSE:MUX ) fell as much as 10.3% on Thursday after reporting fourth-quarter earnings. Shares settled down slightly, to an 8.6% gain, at 3:30 p.m. EST. So what Gold equivalent-ounces produced fell 18.2% in the quarter, to 31,521, and cash costs weren't trending positively, either. El Gallo mine gold-equivalent cash costs rose 41% from a year ago, to $699, while San Jose mine costs fell 5%, to $729, although 2017 guidance is for costs to be $780 per gold ounce equivalent. Image source: Getty Images. Net income for 2016 rose slightly, to $21.1 million, or $0.07 per share, but in the fourth quarter, the company lost 0.01 per share. Now what The cost trend is really what investors have to worry about in both the quarter and going forward. Management said that El Gallo cash costs are expected to rise from $524 per gold equivalent ounce in
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MUX
News
- McEwen Mining (MUX) Moves 7.3% Higher: Will This Strength Last? [Yahoo! Finance]Yahoo! Finance
- McEwen Mining (NYSE:MUX) shareholders are up 12% this past week, but still in the red over the last five years [Yahoo! Finance]Yahoo! Finance
- McEwen Mining: Suitable For Gold Rally At Lower Share Price [Seeking Alpha]Seeking Alpha
- How Much Upside is Left in McEwen (MUX)? Wall Street Analysts Think 68.63% [Yahoo! Finance]Yahoo! Finance
- TNR Gold NSR Royalty Update - Los Azules Copper, Gold and Silver Project - McEwen Copper Updates on Assay Results at Los Azules [Yahoo! Finance]Yahoo! Finance
MUX
Earnings
- 11/8/23 - Beat
MUX
Analyst Actions
- 3/4/24 - TheStreet
MUX
Sec Filings
- 3/15/24 - Form 10-K
- 3/1/24 - Form 8-K
- 2/22/24 - Form 3
- MUX's page on the SEC website