McEwen Inc. (NYSE:MUX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• McEwen Inc. has a consensus analyst recommendation of Moderate Buy (four buys, one hold) with an average 12‑month target price of about $29.83.
• The company reported quarterly EPS of $0.66 versus a $0.25 consensus (revenue $64.6M vs. $72.8M expected), but sell‑side analysts still project a negative full‑year EPS of -0.72.
• Institutional interest has risen—JPMorgan increased its stake by 231.6% to 659,079 shares and new positions from firms like Synergy Asset Management helped push hedge fund/institutional ownership to roughly 17.03%.

McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX has been assigned a consensus recommendation of "Moderate Buy" from the five ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $29.8333.

A number of equities analysts have recently weighed in on MUX shares. HC Wainwright upped their price objective on McEwen from $21.50 to $29.50 and gave the stock a "buy" rating in a research note on Wednesday, March 18th. Wall Street Zen downgraded McEwen from a "buy" rating to a "hold" rating in a research note on Sunday. Roth Mkm boosted their price target on McEwen from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. Finally, Weiss Ratings upgraded McEwen from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, March 11th.

Hedge Funds Weigh In On McEwen

Several institutional investors have recently bought and sold shares of MUX. JPMorgan Chase & Co. grew its position in shares of McEwen by 231.6% during the third quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company's stock valued at $11,270,000 after purchasing an additional 460,308 shares in the last quarter. North of South Capital LLP purchased a new stake in shares of McEwen in the third quarter worth about $855,000. Quantbot Technologies LP boosted its stake in McEwen by 62.7% during the third quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company's stock valued at $2,254,000 after buying an additional 50,778 shares during the last quarter. Synergy Asset Management LLC bought a new position in McEwen during the fourth quarter valued at approximately $13,547,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in McEwen during the 3rd quarter valued at approximately $598,000. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Stock Up 4.7%

Shares of MUX stock opened at $21.38 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.27. McEwen has a one year low of $6.38 and a one year high of $29.70. The company's fifty day moving average price is $24.33 and its 200-day moving average price is $20.58. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 36.23 and a beta of 1.28.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.41. The company had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. McEwen had a net margin of 17.43% and a return on equity of 6.89%. Sell-side analysts expect that McEwen will post -0.72 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.