Dallas, Texas 07/10/2013 (Financialstrend) – The shares of McEwen Mining, Inc. (NYSE:MUX) are currently trading at $1.73, down by 1.99%. The 52-week high price is $4.94 and the 52-week low price was recorded as $1.63. With 342.55 million total outstanding shares, the market capitalization of McEwen, Inc. (NYSE:MUX) is $602.89 million. The intraday share trading volume for is 6.91 million, whereas the average trading volume headed up to 3.96 million. Institutional owners record a contribution of 30 percent of the total outstanding shares.
McEwen Mining, Inc. (McEwen Mining), formerly US Gold Corporation, is involved in the production and exploration of precious metals in Mexico, the United States, and Argentina. The Company is having an interest in various development and exploration stage properties and projects in Mexico, Nevada and Argentina.
McEwen Mining, Inc. (NYSE:MUX) has announced the exploration results from two areas within the El Gallo Complex, Mexico. Drilling is still ongoing to expand the mine at Central Zone at the El Gallo. The company returned high silver grades at a regional prospect called CSX. In second quarter of fiscal year 2013 the company reported mining activities that have commenced with sufficient resources in central area. Because of the exploration success at Central, the company decided to increase the mine’s capacity by 50 percent to 4,500 tons per day. The two items that are highlighted are the use of the updated technologies at El Gallo Complex resources and the initial resource for the Central Zone at the El Gallo mine.