McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX Director Ian J. Ball sold 2,656 shares of McEwen stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $10.49, for a total transaction of $27,861.44. The transaction was disclosed in a filing with the SEC, which is available through this link.
McEwen Stock Performance
McEwen stock traded down $0.13 during mid-day trading on Thursday, reaching $10.41. The company's stock had a trading volume of 1,348,525 shares, compared to its average volume of 853,727. McEwen Inc. has a twelve month low of $6.38 and a twelve month high of $11.80. The firm has a market cap of $563.01 million, a price-to-earnings ratio of -41.62 and a beta of 0.88. The company has a current ratio of 2.35, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $10.35 and a 200-day moving average price of $8.59.
McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its earnings results on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). The business had revenue of $46.70 million during the quarter, compared to analyst estimates of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. Sell-side analysts predict that McEwen Inc. will post -0.72 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. National Bankshares reaffirmed an "outperform" rating on shares of McEwen in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of McEwen from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. HC Wainwright increased their price objective on shares of McEwen from $15.50 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Roth Capital set a $15.00 price objective on shares of McEwen and gave the company a "buy" rating in a report on Tuesday, July 1st. Finally, National Bank Financial upgraded shares of McEwen to a "strong-buy" rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McEwen has a consensus rating of "Moderate Buy" and an average target price of $14.83.
Check Out Our Latest Stock Analysis on McEwen
Institutional Trading of McEwen
Hedge funds and other institutional investors have recently made changes to their positions in the business. Aquatic Capital Management LLC boosted its holdings in McEwen by 357.9% during the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock worth $57,000 after buying an additional 5,727 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new position in shares of McEwen during the 4th quarter worth approximately $96,000. SBI Securities Co. Ltd. increased its holdings in shares of McEwen by 9,935.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 14,350 shares of the basic materials company's stock worth $108,000 after acquiring an additional 14,207 shares during the last quarter. Private Advisor Group LLC boosted its stake in McEwen by 16.6% in the 1st quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock valued at $111,000 after purchasing an additional 2,098 shares during the period. Finally, Pale Fire Capital SE bought a new stake in shares of McEwen during the 2nd quarter valued at $119,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.
About McEwen
(
Get 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.
See Also
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