LONDON, April 7, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings review on McEwen Mining Inc. (NYSE: MUX). On March 09, 2015, the company announced its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=McEwen%20Mining&d=07-Apr-2015&s=MUX to read our free earnings review on McEwen Mining Inc. (McEwen). The company saw record production in Q4 FY14 and full-year FY14. Furthermore, McEwen's gold and silver sales stood at $13.68 million for the reported quarter and $45.30 million for the fiscal year. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=McEwen%20Mining&d=07-Apr-2015&s=MUX
Earnings Overview
During Q4 FY14, McEwen's gold and silver sales increased by $3.44 million from $10.25 million in Q4 FY13. The company produced 27,401 ounces (oz) of gold in the reported quarter compared to 20,686oz in Q4 FY13. Furthermore, McEwen's silver production increased to 973,457oz in Q4 FY14 from 857,011oz in Q4 FY13. Free research on MUX can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=McEwen%20Mining&d=07-Apr-2015&s=MUX
In Q4 FY14, McEwen's gold equivalent total cash cost stood at $709/oz compared to $799/oz in Q4 FY13. Additionally, the company's gold equivalent co-product all-in sustaining cash cost was at $1,063/oz in Q4 FY14 compared to $1,172/oz in Q4 FY13.
For Q4 FY14, McEwen reported operating loss of $265.48 million compared to operating loss of $33.53 million in Q4 FY13. The company's Q4 FY14 net loss stood at $212.78 million, or $0.71 loss per diluted share, compared to net loss of $11.34 million, or $0.04 loss per diluted share, in Q4 FY13. Moreover, the company's adjusted net loss came in at $9.74 million, or $0.03 per diluted share, in Q4 FY14 compared to adjusted net loss of $5.20 million, or $0.02 per diluted share, in Q4 FY13.
In FY14, McEwen's gold and silver sales decreased by $679,000 from $45.98 million in FY13. The company produced 84,351oz of gold in FY14 compared to 79,158oz in FY13. Furthermore, silver production in FY14 grew to 3.20 million ounces (Moz) from 3.14Moz in FY13. Sign up and read the free analyst's notes on MUX at:
http://get.Investor-Edge.com/pdf/?c=McEwen%20Mining&d=07-Apr-2015&s=MUX
During FY14, the company's gold equivalent total cash cost decreased to $817/oz from $823/oz in FY13. Further, McEwen's gold equivalent co-product all-in sustaining cash cost was $1,198/oz in FY14 compared to $1,249/oz in FY13.
During FY14, McEwen's operating loss was $410.17 million compared to operating loss of $200.40 million in FY13. The company reported net loss of $311.94 million, or $1.05 loss per diluted share, in FY14 compared to net loss of $147.74 million, or $0.50 loss per diluted share, in FY13. The net loss for FY14 included impairment charges of $228 million for Los Azules, $98 million for its Nevada properties, $27 million for the company's exploration properties in Santa Cruz, and $21 million on its investment in the San Jose mine. Moreover, the company's adjusted net loss came in at $33.00 million, or $0.11per diluted share, in FY14 compared to adjusted net loss of $30.97 million, or $0.10 per diluted share, in FY13.
In its outlook for FY15, McEwen provided gold production guidance of 96,500oz and silver production guidance of 3.12Moz. Additionally, for full-year FY15, the company anticipates gold equivalent total cash cost of $725/oz and gold equivalent co-product all-in sustaining cash cost of $1,125/oz. Visit Investor-Edge and access the latest research on MUX at:
http://get.Investor-Edge.com/pdf/?c=McEwen%20Mining&d=07-Apr-2015&s=MUX
Stock Performance
On the day following the earnings release, March 10, 2015, McEwen's stock plummeted 6.93% to end the session at $0.94. Since then, the stock has moved both ways with gains outperforming losses. On the last close, Monday, April 06, 2015, the company's shares finished 3.85% higher at $1.08, after vacillating between $1.06 and $1.11. A total of 1.10 million shares were traded which was below their three months average volume of 1.92 million shares. Over the previous three trading sessions and over the last one month, the company's shares have gained 5.88% and 4.85%, respectively. However, the stock has lost 14.96% in the past three months. Shares in McEwen are trading below their 50-day and 200-day moving averages of $1.09 and $1.78, respectively. Furthermore, the stock traded at a PE ratio of 1.84 and has a Relative Strength Index of 48.23.
Sneak Peek to Corporate Insider Trading
In the last one month, McEwen has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on MUX is available at:
http://get.Investor-Edge.com/pdf/?c=McEwen%20Mining&d=07-Apr-2015&s=MUX
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