McEwen Mining Inc (NYSE:MUX) is among the notable laggards in the market over the course of the past week and has declined by as much as 11% during the period.
There has been no news about the company this week but earlier on this month McEwen reported its financial results for the fiscal second quarter and for the first half of the year, both of which ended on June 30, 2021. In light of the decline in the stock over the past week, it might be a good idea to take a look into company’s performance.
The company announced that the production results were strong and were in line with its own projections. More importantly, McEwen Mining also noted that it was on course to hit its 2021 projection of hitting production in the range of 141000 to 160400 gold equivalent ounces or GEOs.
On the other hand, the company also announced that it continued to execute the strategy that it had put in place for the turnaround of its business. In that regard, McEwen Mining stated that it made considerable progress both in the financial as well as the operational front. Investors could do well to keep the McEwen Mining stock in their watch lists at this point.