Earlier on in the week on Wednesday McEwen Mining Inc (NYSE:MUX) was in focus after the company announced its financial results for the third fiscal quarter that had ended on September 30, 2021.
Trading Data
On Thursday, MUX stock fell 3.51% at $1.1000 with more than 2.49 million shares, compared to its average volume of 2.79 million shares. The stock has moved within a range of $1.0800 – 1.1500 after opening the trade at $1.1200.
Q3 2021 Results
Yesterday, there was not a lot of activity in the McEwen Mining stock and it stayed within a range. However, it might just be the right time for investors to take a look at some of the highlights from its financial results and then make a decision about the stock. The company noted that it had continued to work on its turnaround strategy during the third fiscal quarter and managed to make considerable progress both on the operational as well as financial front.
McEwen Mining also pointed out that the production results in the quarter were consistent with its expectations and hence, the company was on course to eventually hit the annual projection of 141000 to 150040 GEOs. At the end of that quarter, the company had liquid assets and cash to the tune of as much as $72.1 million. On the other hand, the working capital at hand at the end of the period stood at $45.8 million.
Technical Data
MUX stock is trading below the 20-Day and 50-Day Moving averages of $1.13 and $1.12 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.19. The stock is down 5% in the past 3-month.
