There are many mining companies which have attracted attention from investors in recent days but at the same time there are some which have seen a waning in interest.
Trading Data
On Monday, MUX stock fell by 1.48% to $0.87 with more than 2.04 million shares, compared to its average volume of 2.91 million shares. The stock has moved within a range of $0.8500 – 0.8800 after opening trade at $0.86.
McEwen Mining: Exploration @ Fox
McEwen Mining Inc (NYSE:MUX) is in the latter category and that can be seen in the price action in its stock. Over the course of the past month, the stock has declined by as much as 20% and it is perhaps important for investors to figure out if the stock can actually make a recovery anytime soon. In this context, it may be a good move from investors to consider taking a look at an announcement made from the company on Monday with regards to its drilling activities.
The company announced yesterday that its drilling programme at the Fort Complex, it has continued to record impressive grades and widths. It goes without saying that such an announcement is an important one and could lead to further interest in the stock in the coming days.
At this point in time, it may be a good move for investors to consider if the decline in stock in the past month could in fact be an opportunity or not.
Technical Data
MUX stock is trading below the 20-Day and 50-Day Moving averages of $0.94 and $1.06 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.17. The stock is down 20% in the past month.
