Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in McEwen Inc. (NYSE:MUX)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 50,000 shares of McEwen Inc. valued at approximately $378,000, holding 0.09% of the company.
• McEwen's stock has experienced a 1.1% decline recently, with current trading at around $10.05 and a market capitalization of $542.60 million.
• A mix of analyst ratings has emerged for McEwen, with one recently downgrading the stock from "hold" to "sell," while others maintain a "buy" or "strong buy" outlook.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the basic materials company's stock, valued at approximately $378,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.09% of McEwen as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. American Century Companies Inc. increased its stake in McEwen by 8.8% during the 4th quarter. American Century Companies Inc. now owns 92,346 shares of the basic materials company's stock valued at $718,000 after purchasing an additional 7,492 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of McEwen by 282,420.0% in the 4th quarter. JPMorgan Chase & Co. now owns 42,378 shares of the basic materials company's stock valued at $330,000 after buying an additional 42,363 shares in the last quarter. Norges Bank acquired a new position in McEwen in the 4th quarter valued at $421,000. National Bank of Canada FI grew its position in McEwen by 12,910.1% during the fourth quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock worth $110,000 after buying an additional 14,072 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of McEwen by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 484,792 shares of the basic materials company's stock worth $3,774,000 after purchasing an additional 13,673 shares in the last quarter. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Stock Performance

NYSE:MUX traded up $0.10 during mid-day trading on Thursday, reaching $10.88. The stock had a trading volume of 815,888 shares, compared to its average volume of 836,717. McEwen Inc. has a twelve month low of $6.38 and a twelve month high of $11.80. The firm has a market capitalization of $587.47 million, a price-to-earnings ratio of -19.05 and a beta of 0.88. The business has a 50 day simple moving average of $10.13 and a 200 day simple moving average of $8.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.89 and a current ratio of 2.35.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its earnings results on Thursday, August 7th. The basic materials company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). McEwen had a negative net margin of 17.51% and a negative return on equity of 6.03%. The firm had revenue of $46.70 million during the quarter, compared to analyst estimates of $49.05 million. On average, analysts expect that McEwen Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MUX has been the topic of several analyst reports. HC Wainwright upped their target price on McEwen from $15.50 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Roth Capital set a $15.00 price target on McEwen and gave the stock a "buy" rating in a report on Tuesday, July 1st. Wall Street Zen lowered shares of McEwen from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. National Bankshares reiterated an "outperform" rating on shares of McEwen in a report on Wednesday, July 16th. Finally, National Bank Financial upgraded shares of McEwen to a "strong-buy" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, McEwen has an average rating of "Moderate Buy" and an average target price of $14.83.

McEwen Profile

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.