McEwen (MUX) got here out with a quarterly lack of $0.26 per share versus the Zacks Consensus Estimate of a lack of $0.20. This compares to lack of $0.10 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of -30%. 1 / 4 in the past, it was anticipated that this gold and silver mining firm would publish a lack of $0.30 per share when it truly produced a lack of $0.40, delivering a shock of -33.33%.
Over the final 4 quarters, the corporate has not been in a position to surpass consensus EPS estimates.
The sustainability of the stock’s fast worth motion primarily based on the recently-released numbers and future earnings expectations will largely rely upon administration’s commentary on the earnings name.
McEwen shares have misplaced about 60.5% because the starting of the 12 months versus the S&P 500’s decline of -13.5%.
What’s Next for McEwen?
While McEwen has underperformed the market to date this 12 months, the query that involves buyers’ minds is: what’s subsequent for the stock?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.
Empirical analysis exhibits a robust correlation between near-term stock actions and developments in earnings estimate revisions. Investors can monitor such revisions by themselves or depend on a tried-and-tested score device just like the Zacks Rank, which has a powerful monitor file of harnessing the ability of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions development for McEwen: favorable. While the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #2 (Buy) for the stock. So, the shares are anticipated to outperform the market within the close to future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It shall be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is -$0.20 on $42.5 million in revenues for the approaching quarter and -$1.24 on $136.3 million in revenues for the present fiscal 12 months.
Investors must be conscious of the truth that the outlook for the trade can have a fabric influence on the efficiency of the stock as properly. In phrases of the Zacks Industry Rank, Mining – Miscellaneous is at present within the backside 23% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
Wheaton Precious Metals Corp. (WPM), one other stock in the identical trade, has but to report outcomes for the quarter ended June 2022. The outcomes are anticipated to be launched on August 11.
This firm is predicted to publish quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of -11.1%. The consensus EPS estimate for the quarter has been revised 12.4% decrease during the last 30 days to the present degree.
Wheaton Precious Metals Corp.’s revenues are anticipated to be $301 million, down 8.9% from the year-ago quarter.
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McEwen Mining Inc. (MUX): Free Stock Analysis Report
Wheaton Precious Metals Corp. (WPM): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.