McEwen mining-added to MUX this morning
July 6, 2021
I’m not thrilled with how the miners opened higher this morning, then sold off until midday so far, but I’m going ahead and adding to a winner (MUX) while its pulling back. The CEO announced some interesting news this morning, and while I am not adding because of the news, I think it is a big positive for the stock going forward. MUX shareholders have not been rewarded with a proper valuation of the company’s copper deposit in Argentina, so Mr McEwen is going to separate the companies into two different entities, we will still have McEwen Mining that focuses on precious metals, and now we ill get a piece of McEwen Copper, expected to be out sometime this year.
MUX stock has held up well this year, and since I’m up nicely already, and love adding to winning positions, today seems a good a day as any to buy more. Members can check my daily account statements to see exactly how much I added, how much I have overall, my unrealized gain amount, and they can check for my stop out levels where I will exit the trade if it moves lower. Daily chart below:
