McEwen (MUX) Soars 14.5%: Is Further Upside Left in the Stock?

Company Overview - McEwen Mining (MUX) shares increased by 14.5% to $11 in the last trading session, with a higher-than-average trading volume, compared to an 11.5% gain over the past four weeks [1] - The company's stock performance is closely linked to gold prices, which are currently above $3,330 per ounce, driven by a weak U.S. dollar and ongoing fiscal concerns [1] Earnings Expectations - McEwen is projected to report quarterly earnings of $0.05 per share, reflecting a year-over-year increase of 119.2%, with expected revenues of $51.4 million, up 8.3% from the previous year [2] - The consensus EPS estimate for McEwen has remained stable over the last 30 days, indicating that stock price movements may not sustain without changes in earnings estimate revisions [3] Industry Context - McEwen operates within the Zacks Mining - Miscellaneous industry, where another company, Reliance (RS), saw a 2.4% increase in its stock price, closing at $321.33, with a 4% return over the past month [3] - Reliance's consensus EPS estimate for its upcoming report has slightly increased by 0.1% to $4.63, which is a decrease of 0.4% compared to the previous year [4]