McEwen (NYSE:MUX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded McEwen from “sell” to “hold.” Overall analyst sentiment remains “Hold,” with three buy ratings, one hold, and one sell, and a consensus price target of $28.
• McEwen reported quarterly EPS of $0.14, below the $0.28 analyst consensus, while revenue of $59.23 million also missed estimates of $65.51 million.
• The stock opened at $19.52, with a market capitalization of approximately $1.20 billion; insiders own 14.8% of shares, while institutional investors and hedge funds own 17.03%.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts also recently issued reports on the stock. Roth Capital set a $31.00 price target on shares of McEwen and gave the stock a "buy" rating in a report on Monday, August 10th. Zacks Research lowered McEwen from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of McEwen in a research report on Friday, August 28th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $28.00 target price (down from $29.50) on shares of McEwen in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.00.

McEwen Trading Down 0.2%

MUX opened at $19.52 on Friday. The company has a market cap of $1.20 billion, a P/E ratio of 15.49 and a beta of 1.26. The company has a current ratio of 2.04, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The company's 50 day moving average is $18.84 and its 200-day moving average is $20.86. McEwen has a 1-year low of $13.05 and a 1-year high of $29.70.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.14). McEwen had a return on equity of 13.48% and a net margin of 32.46%.The company had revenue of $59.23 million for the quarter, compared to analyst estimates of $65.51 million. Equities research analysts predict that McEwen will post 0.8 earnings per share for the current fiscal year.

Insider Transactions at McEwen

In other news, Director Richard Brissenden sold 3,275 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $18.13, for a total transaction of $59,375.75. Following the completion of the transaction, the director owned 18,022 shares of the company's stock, valued at approximately $326,738.86. This trade represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.80% of the company's stock.

Institutional Trading of McEwen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in McEwen by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 10,780 shares of the basic materials company's stock worth $220,000 after purchasing an additional 589 shares during the last quarter. Kercheville Advisors LLC grew its position in shares of McEwen by 10.0% in the 1st quarter. Kercheville Advisors LLC now owns 11,000 shares of the basic materials company's stock valued at $225,000 after buying an additional 1,000 shares during the last quarter. KBC Group NV acquired a new stake in shares of McEwen in the first quarter valued at about $27,000. Geode Capital Management LLC increased its stake in shares of McEwen by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company's stock valued at $9,673,000 after buying an additional 1,461 shares during the period. Finally, Leonteq Securities AG acquired a new stake in shares of McEwen in the first quarter valued at about $31,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.

McEwen Company Profile

McEwen Mining Inc NYSE: MUX is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company's flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.

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