Jefferies Financial Group Inc. purchased a new stake in shares of McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 72,210 shares of the basic materials company's stock, valued at approximately $545,000. Jefferies Financial Group Inc. owned approximately 0.13% of McEwen at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Aquatic Capital Management LLC lifted its holdings in shares of McEwen by 357.9% during the 4th quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock valued at $57,000 after buying an additional 5,727 shares during the period. Total Wealth Planning & Management Inc. purchased a new stake in McEwen during the fourth quarter valued at $96,000. SBI Securities Co. Ltd. lifted its holdings in McEwen by 9,935.0% in the first quarter. SBI Securities Co. Ltd. now owns 14,350 shares of the basic materials company's stock valued at $108,000 after acquiring an additional 14,207 shares during the period. National Bank of Canada FI lifted its holdings in McEwen by 12,910.1% in the fourth quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock valued at $110,000 after acquiring an additional 14,072 shares during the period. Finally, Private Advisor Group LLC boosted its position in McEwen by 16.6% in the first quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock worth $111,000 after purchasing an additional 2,098 shares during the last quarter. 17.03% of the stock is owned by hedge funds and other institutional investors.
McEwen Stock Performance
NYSE MUX traded down $0.53 on Friday, reaching $10.21. 1,300,811 shares of the stock were exchanged, compared to its average volume of 757,045. The company has a current ratio of 2.35, a quick ratio of 1.89 and a debt-to-equity ratio of 0.26. McEwen Inc. has a one year low of $6.38 and a one year high of $11.80. The firm has a market capitalization of $552.46 million, a PE ratio of -40.84 and a beta of 0.88. The company's 50-day simple moving average is $10.23 and its two-hundred day simple moving average is $8.53.
McEwen (NYSE:MUX - Get Free Report) TSE: MUX last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). The business had revenue of $46.70 million for the quarter, compared to the consensus estimate of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. Analysts expect that McEwen Inc. will post -0.72 EPS for the current fiscal year.
Analysts Set New Price Targets
MUX has been the topic of several recent research reports. Wall Street Zen cut shares of McEwen from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. National Bank Financial raised shares of McEwen to a "strong-buy" rating in a report on Tuesday, April 29th. National Bankshares reiterated an "outperform" rating on shares of McEwen in a research note on Wednesday, July 16th. HC Wainwright upped their price objective on McEwen from $15.50 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Roth Capital set a $15.00 target price on McEwen and gave the stock a "buy" rating in a report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.83.
View Our Latest Report on McEwen
About McEwen
(
Free Report)
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.
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