McEwen Inc. (NYSE:MUX) Receives $14.83 Consensus Target Price from Analysts

Key Points

• McEwen Inc. (NYSE:MUX) has received a consensus rating of "Buy" from five analysts, with one analyst assigning a strong buy rating and an average 1-year target price of $14.83.
• The company reported a loss of $0.06 earnings per share (EPS) for the last quarter, falling short of analysts' expectations of $0.09, and generated $46.70 million in revenue.
• Recently, institutional investors have increased their holdings in McEwen, with notable increases from firms like MIRAE ASSET GLOBAL and Royal Bank of Canada.

Shares of McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX have been given an average rating of "Buy" by the five analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $14.8333.

Several brokerages recently issued reports on MUX. Roth Capital set a $15.00 target price on shares of McEwen and gave the stock a "buy" rating in a research report on Tuesday, July 1st. National Bankshares reiterated an "outperform" rating on shares of McEwen in a research report on Wednesday, July 16th. HC Wainwright upped their target price on shares of McEwen from $15.50 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen lowered shares of McEwen from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, National Bank Financial upgraded shares of McEwen to a "strong-buy" rating in a research report on Tuesday, April 29th.

McEwen Price Performance

NYSE:MUX traded down $0.0910 during midday trading on Wednesday, hitting $10.8590. The company had a trading volume of 651,299 shares, compared to its average volume of 1,069,781. McEwen has a 52-week low of $6.38 and a 52-week high of $11.80. The stock's fifty day moving average price is $10.49 and its 200-day moving average price is $8.68. The company has a market capitalization of $587.58 million, a PE ratio of -43.44 and a beta of 0.88. The company has a quick ratio of 1.82, a current ratio of 2.35 and a debt-to-equity ratio of 0.26.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). McEwen had a negative return on equity of 2.76% and a negative net margin of 8.05%.The company had revenue of $46.70 million during the quarter, compared to analysts' expectations of $49.05 million. As a group, research analysts expect that McEwen will post -0.72 earnings per share for the current year.

Insiders Place Their Bets

In other McEwen news, Director Ian J. Ball sold 2,656 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $10.49, for a total value of $27,861.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.10% of the stock is owned by corporate insiders.

Institutional Trading of McEwen

Several hedge funds have recently added to or reduced their stakes in the business. Everstar Asset Management LLC lifted its stake in McEwen by 4.3% in the second quarter. Everstar Asset Management LLC now owns 28,988 shares of the basic materials company's stock worth $279,000 after purchasing an additional 1,188 shares during the last quarter. Geode Capital Management LLC lifted its stake in McEwen by 0.3% in the second quarter. Geode Capital Management LLC now owns 509,426 shares of the basic materials company's stock worth $4,897,000 after purchasing an additional 1,585 shares during the last quarter. Private Advisor Group LLC lifted its stake 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. Inceptionr LLC lifted its stake in McEwen by 21.7% in the second quarter. Inceptionr LLC now owns 19,496 shares of the basic materials company's stock worth $187,000 after purchasing an additional 3,480 shares during the last quarter. Finally, Aquatic Capital Management LLC lifted its stake in McEwen by 357.9% in the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock worth $57,000 after purchasing an additional 5,727 shares during the last quarter. 17.03% of the stock is owned by institutional investors.

McEwen Company 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.