McEwen Mining (MUX) has risen sharply, recording gains of 8.03% in the past 4 weeks. However, the stock has corrected -15.03% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.2% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
McEwen Mining (NYSE:MUX): The stock opened at $3.90 on Friday but the bulls could not build on the opening and the stock topped out at $3.98 for the day. The stock traded down to $3.85 during the day, due to lack of any buying support eventually closed down at $3.90 with a loss of -1.52% for the day. The stock had closed at $3.96 on the previous day. The total traded volume was 2,328,921 shares.
The stock has recorded a 20-day Moving Average of 7.04% and the 50-Day Moving Average is 17.64%. McEwen Mining Inc. is up 66.67% in the last 3-month period. Year-to-Date the stock performance stands at 269.43%.
McEwen Mining Inc. is a mining and minerals exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. Its operating segments include Argentina, Mexico and the United States. It has a land position consisting of mining claims, leases of mining claims or concessions of around 814 square miles in Argentina, 697 square miles in Mexico and 241 square miles in Nevada. It holds around 49% interest in Minera Santa Cruz S.A. (MSC), owner and operator of the producing San Jose mine in Santa Cruz, Argentina, which is controlled by the majority owner of the joint venture, Hochschild Mining plc (Hochschild). It also owns the El Gallo 1 gold mine in Sinaloa, Mexico. In addition to its operating properties, it also holds interests in numerous exploration stage properties and projects in Argentina, Mexico and the United States, including the Gold Bar (Gold Bar) and Los Azules (Los Azules) projects.