McEwen (NYSE:MUX) Stock Rating Cut to Strong Sell at Wall Street Zen

McEwen (NYSE:MUX - Get Free Report) TSE: MUX was downgraded by stock analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently commented on the company. Zacks Research cut McEwen from a "hold" rating to a "strong sell" rating in a research note on Wednesday. HC Wainwright lowered their price objective on McEwen from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday. Weiss Ratings lowered McEwen from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday. Finally, Roth Capital set a $31.00 target price on shares of McEwen and gave the stock a "buy" rating in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, McEwen presently has a consensus rating of "Hold" and an average price target of $29.00.

McEwen Stock Down 0.4%

MUX opened at $11.90 on Friday. The company has a market cap of $733.35 million, a P/E ratio of 17.77 and a beta of 1.31. The business's 50-day moving average price is $16.79 and its 200-day moving average price is $20.29. The company has a current ratio of 1.34, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. McEwen has a 12 month low of $11.67 and a 12 month high of $29.70.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last released its earnings results on Monday, November 9th. The basic materials company reported ($0.60) earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.69). The company had revenue of $43.64 million during the quarter, compared to the consensus estimate of $43.95 million. McEwen had a net margin of 18.41% and a return on equity of 6.90%. On average, equities analysts expect that McEwen will post 0.14 EPS for the current year.

Institutional Trading of McEwen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV purchased a new position in McEwen during the 1st quarter valued at $27,000. Global Retirement Partners LLC raised its holdings in McEwen by 572.0% in the 3rd quarter. Global Retirement Partners LLC now owns 1,680 shares of the basic materials company's stock worth $30,000 after purchasing an additional 1,430 shares in the last quarter. Versant Capital Management Inc bought a new position in McEwen in the 3rd quarter worth $31,000. GAMMA Investing LLC lifted its position in shares of McEwen by 170.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the basic materials company's stock worth $36,000 after purchasing an additional 1,266 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of McEwen by 8.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,667 shares of the basic materials company's stock worth $173,000 after purchasing an additional 779 shares during the period. Hedge funds and other institutional investors own 17.03% of the company's stock.

McEwen Company Profile

McEwen Inc., formerly known as McEwen Mining, is a metals exploration and mining company focused on gold, silver and copper. Its activities include operating mines, advancing development projects and exploring for additional mineral resources. The company's assets and projects span the United States, Canada, Mexico and Argentina. Its portfolio includes gold and silver properties as well as the Los Azules copper project in Argentina, which is being advanced through its McEwen Copper subsidiary. McEwen was founded by Rob McEwen, who serves as the company's chairman and chief executive officer.

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