Price Action To Observe: What’s Ahead for McEwen Mining Inc After Today’s Huge Decline?

Price Action To Observe: What's Ahead for McEwen Mining Inc After Today's Huge Decline?

The stock of McEwen Mining Inc (NYSE:MUX) is a huge mover today! About 3.26M shares traded hands. McEwen Mining Inc (NYSE:MUX) has risen 77.89% since April 6, 2016 and is uptrending. It has outperformed by 75.93% the S&P500.
The move comes after 5 months negative chart setup for the $1.01 billion company. It was reported on Nov, 8 by Barchart.com. We have $3.19 PT which if reached, will make NYSE:MUX worth $60.60 million less.

According to Zacks Investment Research, “U.S. GOLD CORP. is primarily engaged in the precious metal mining business in the continental United States, however, it may also evaluate properties outside the United States.”

MUX Company Profile

McEwen Mining Inc., incorporated on July 24, 1979, is a mining and minerals exploration company. The Firm is focused on precious and base metals in Argentina, Mexico and the United States. The Company’s divisions include Mexico, Argentina and the United States. It classifies its mineral properties into Production Properties, Advanced-Stage Properties and Exploration Properties. The Firm owns El Gallo 1 gold mine in Sinaloa, Mexico and holds interest in Minera Santa Cruz S.A. (MSC), owner and operator of the producing San Jose mine in Santa Cruz, Argentina. In addition to its operating properties, the Company also holds interests in exploration-stage properties and projects in Argentina, Mexico and the United States, including projects within the Gold Bar (Gold Bar) and Los Azules (Los Azules) projects. The end product at its gold and silver activities is either in the form of dore or concentrate. Production from the El Gallo 1 mine consists of dore. The Firm produces approximately 110,320 gold ounces and over 3,315,670 silver ounces for approximately 154,530 gold equivalent ounces.

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