McEwen Inc. (NYSE:MUX) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts give McEwen a consensus “Hold” rating from five firms, with three buys, one hold and one sell. The average 12-month price target is $28.00 versus a recent share price of $20.54.
• McEwen reported quarterly earnings of $0.14 per share, missing the $0.28 consensus estimate, while revenue of $59.23 million fell short of expectations of $65.51 million.
• Institutional ownership stands at 17.03%, with several funds adding shares during the second quarter, while director Richard Brissenden sold 3,275 shares and reduced his holdings by 15.38%.

Shares of McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX have been assigned a consensus recommendation of "Hold" from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $28.00.

A number of analysts recently commented on MUX shares. HC Wainwright reiterated a "buy" rating and issued a $28.00 target price (down from $29.50) on shares of McEwen in a research note on Friday, August 7th. 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 downgraded shares of McEwen from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 5th. Weiss Ratings lowered shares of McEwen from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen downgraded McEwen from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th.

Insiders Place Their Bets

In other news, Director Richard W. Brissenden sold 3,275 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $18.13, for a total value of $59,375.75. Following the transaction, the director directly owned 18,022 shares of the company's stock, valued at approximately $326,738.86. This represents a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.80% of the company's stock.

Hedge Funds Weigh In On McEwen

Hedge funds and other institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in McEwen during the 2nd quarter valued at approximately $703,000. California State Teachers Retirement System increased its stake in shares of McEwen by 1,734.4% in the second quarter. California State Teachers Retirement System now owns 1,116,391 shares of the basic materials company's stock worth $20,240,000 after acquiring an additional 1,055,534 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of McEwen in the second quarter worth $772,000. Hollencrest Capital Management raised its holdings in shares of McEwen by 12.8% during the second quarter. Hollencrest Capital Management now owns 38,622 shares of the basic materials company's stock worth $700,000 after purchasing an additional 4,379 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in McEwen during the second quarter valued at $225,000. Institutional investors and hedge funds own 17.03% of the company's stock.

McEwen Trading Up 0.6%

Shares of NYSE:MUX opened at $20.54 on Monday. The business's 50-day moving average is $18.48 and its 200 day moving average is $21.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.61. McEwen has a 1 year low of $10.96 and a 1 year high of $29.70. The firm has a market capitalization of $1.26 billion, a P/E ratio of 16.30 and a beta of 1.23.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share 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 business had revenue of $59.23 million for the quarter, compared to analysts' expectations of $65.51 million. On average, research analysts predict that McEwen will post 0.8 earnings per share for the current fiscal year.

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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