McEwen Mining Inc (NYSE:MUX) Strikes Rally


Dallas, Texas 04/09/2014 (FINANCIALSTRENDS) – McEwen Mining Inc(NYSE:MUX) already buoyant has more news report. The latest report on the mineral reserve plus resources estimate has ensured the company will continue to see an upside.

MUX mines at the rich San Jose mine, which is located in Argentina, Santa Cruz province. The latest estimate also proves that this is one mine which will continue to the source of top-quality, highest graded metal mines across the both of the American continents. The estimates reiterate the fact that this miner has one of the top class mining sites which continues to hold strong pipeline, despite some record production.

McEwen Mining Inc(NYSE:MUX), CEO Rob McEwen was quick to offer that the San Jose continues to be the richest as well as a top-quality metal mine because of the continued exploration his company has been engaging in, in the recent past.

In fact, for McEwen Mining, there has been a registered increase in precious metal reserves such as gold and silver by over 12%. In terms of numbers, this has been reported at 409.4K oz of gold, 30.1million oz of silver in about 1.8 million metric tons.

The consideration to arrive at reserve and resource estimates which were at $1,200 per ounce of gold and $20 per ounce of silver.

McEwen Mining Inc(NYSE:MUX) has a market cap of $734.83 million and has average volume of $4.47 million. The company’s Volume to Average ratio is 2.60 million to 4.47 million. EPS held by MUXis -0.56. The outstanding shares held by the company are 298.71million. Beta is 0.84.

McEwen Mining Inc(NYSE:MUX) and other gold miners such as Barrick Gold, Harmony Gold, New Gold, besides AuRico Gold are expected to achieve price targets on an average, even as the gold prices dropped over the previous month.