McEwen Inc. (NYSE:MUX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• McEwen has a “Moderate Buy” consensus rating from five analysts, with three buys and two holds. The average 12-month price target is $28.00, versus a recent share price of $18.68.
• Recent analyst actions were generally stable to positive: Roth Capital set a $31 buy target, while HC Wainwright maintained a buy rating but lowered its target to $28. Other firms upgraded the stock from sell or strong sell to hold.
• McEwen’s latest quarterly results missed expectations, reporting $0.14 in EPS versus a $0.28 estimate and revenue of $59.23 million versus $65.51 million expected. Institutional investors own 17.03% of the company, while insiders own 14.80%.

Shares of McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX have earned a consensus rating of "Moderate Buy" from the five brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $28.00.

A number of research analysts have recently weighed in on the stock. Roth Capital set a $31.00 price target on shares of McEwen and gave the company a "buy" rating in a report on Monday, August 10th. HC Wainwright reissued a "buy" rating and set a $28.00 target price (down from $29.50) on shares of McEwen in a research report on Friday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of McEwen in a report on Friday, August 28th. Wall Street Zen raised McEwen from a "sell" rating to a "hold" rating in a research report on Saturday, September 12th. Finally, Zacks Research upgraded McEwen from a "strong sell" rating to a "hold" rating in a research note on Friday, September 11th.

Insiders Place Their Bets

In related news, Director Richard Brissenden sold 3,275 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $18.13, for a total value of $59,375.75. Following the completion of the sale, the director directly owned 18,022 shares in the company, valued at approximately $326,738.86. The trade was a 15.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 14.80% of the company's stock.

Hedge Funds Weigh In On McEwen

A number of institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in McEwen by 26.5% during the second quarter. State Street Corp now owns 4,254,551 shares of the basic materials company's stock valued at $77,135,000 after acquiring an additional 891,024 shares during the period. Bank of America Corp DE lifted its position in shares of McEwen by 1,347.7% during the 1st quarter. Bank of America Corp DE now owns 534,824 shares of the basic materials company's stock worth $10,921,000 after purchasing an additional 497,882 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in McEwen by 56.3% during the 4th quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company's stock valued at $18,540,000 after purchasing an additional 360,857 shares during the period. Mawer Investment Management Ltd. acquired a new stake in McEwen in the 4th quarter valued at approximately $4,627,000. Finally, Synergy Asset Management LLC grew its holdings in McEwen by 31.6% in the 2nd quarter. Synergy Asset Management LLC now owns 803,122 shares of the basic materials company's stock valued at $14,561,000 after buying an additional 193,005 shares during the last quarter. Institutional investors own 17.03% of the company's stock.

McEwen Trading Down 0.8%

NYSE:MUX opened at $18.68 on Friday. The stock's 50 day moving average price is $19.03 and its 200 day moving average price is $20.33. McEwen has a 52 week low of $14.42 and a 52 week high of $29.70. The company has a market capitalization of $1.15 billion, a P/E ratio of 14.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 2.04.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last posted its earnings results 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). The business had revenue of $59.23 million during the quarter, compared to analyst estimates of $65.51 million. McEwen had a net margin of 32.46% and a return on equity of 13.48%. On average, research analysts forecast that McEwen will post 0.83 EPS for the current fiscal year.

McEwen Company Profile

McEwen Inc is a mining company focused on the exploration, development, and production of gold, silver, and copper. The company's portfolio includes operating mines, advanced development projects, and exploration properties in the United States, Canada, and Argentina.

Its principal gold assets include the Fox Complex in Ontario, Canada, and the Gold Bar mine in Nevada. McEwen also has an interest in the San José mine in Argentina, which has historically produced gold and silver, and is advancing the Los Azules copper project in San Juan Province, Argentina, through its McEwen Copper subsidiary.

McEwen was founded by mining entrepreneur Rob McEwen, who serves as chairman.

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