McEwen Mining Inc. works for exploring, developing, producing and even selling the precious metals like gold and silver. The former name of the company was US Gold Corporation and it was changed to McEwen Mining Inc. in 2012. The company was founded on 24 July 1979 and based in Toronto, Canada.
The company has the wholesome interest in Sinaloa, Mexico (the El Gallo 1 and El Gallo 2 project). Apart from this major share, the company’s ownership is in the projects like Black Fox North, Black Fox Complex, Buffalo Ankerite, Davidson Tisdale and Fuller on the Canadian land. The company also owns the Los Azules copper project in San Juan, Argentina. The Nevada properties of Gold Bar and Tonkin properties also hold 100% interests for the company. Rob McEwen is the Chief Owner and Chairman of the company. The company has a total of 337 million outstanding shares with the Chief Owner having a share of one-fourth of stocks.
The major goal of the company is to qualify for the S&P 500 Index and they’re creating a strong base for a profitable gold and silver production. It has recently invited all the precious metal analysts, shareholders, investors and market letter writers on 6 September to discuss the new drill intercepts. The company maintains transparency and will reveal their gold resources and high grades of gold. The new mine is having a progress for production and the mine life is planned to be extended in Mexico. Rob McEwen has owned a better share from $25 million to $160 million in the recent news. The gold stocks have given higher returns to the stock market indices and it is expected to give a better scope for the mining stocks in the future.
For a company like McEwen, there are many positive results expected. The stock price of 52-weeks showed a low of $1.82 and high of $2.86. There has not been a better time to invest in gold for many years as the risk is on the lower side. The commodity prices are cyclic in nature and the value of commodities relative to equities is on the lowest phases this year. However, the precious metal exploration is the best way to invest in the upcoming time and the recent event of the company will reveal this fact with the realistic study figures. MUX has a huge scope and the exciting times to follow and the stock will certainly lead to the better times in the future.
The goal of the company to get included in S&P will probably get accomplished. Rob McEwen has very strong management skills and will have the best results for the company. The organization is expanding generation levels every year and with the same pace, the new progress reports are being floated in the market. The stock analysts are also expecting a good scope from the company and the stock will exchange on a premium in the times to come. The market capitalization of the company is 1.13 billion and the outstanding shares are about 80 million.