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

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 received an average recommendation of "Buy" from the five analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.8333.

MUX has been the subject of a number of recent analyst reports. HC Wainwright lifted their target price on McEwen from $15.50 to $17.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Wall Street Zen lowered McEwen from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. National Bank Financial raised McEwen to a "strong-buy" rating in a report on Tuesday, April 29th. Roth Capital set a $15.00 target price on McEwen and gave the company a "buy" rating in a report on Tuesday, July 1st. Finally, National Bankshares reaffirmed an "outperform" rating on shares of McEwen in a report on Wednesday, July 16th.

Insiders Place Their Bets

In other news, Director Ian J. Ball sold 2,656 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.49, for a total transaction of $27,861.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MUX. JPMorgan Chase & Co. grew its holdings in shares of McEwen by 282,420.0% during the fourth quarter. JPMorgan Chase & Co. now owns 42,378 shares of the basic materials company's stock worth $330,000 after purchasing an additional 42,363 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of McEwen by 2.9% during the fourth 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. Invesco Ltd. grew its holdings in shares of McEwen by 8.6% during the fourth quarter. Invesco Ltd. now owns 254,431 shares of the basic materials company's stock worth $1,979,000 after purchasing an additional 20,200 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of McEwen by 170.5% during the fourth quarter. Renaissance Technologies LLC now owns 162,186 shares of the basic materials company's stock worth $1,262,000 after purchasing an additional 102,231 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of McEwen by 369.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company's stock worth $4,331,000 after purchasing an additional 438,088 shares in the last quarter. Hedge funds and other institutional investors own 17.03% of the company's stock.

McEwen Stock Performance

MUX traded up $0.3010 during trading hours on Wednesday, hitting $10.9410. The stock had a trading volume of 830,817 shares, compared to its average volume of 1,061,053. The company's fifty day simple moving average is $10.46 and its 200 day simple moving average is $8.67. McEwen has a 1 year low of $6.38 and a 1 year high of $11.80. The stock has a market cap of $592.02 million, a PE ratio of -43.76 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 quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share 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 firm had revenue of $46.70 million during the quarter, compared to analysts' expectations of $49.05 million. Equities analysts anticipate that McEwen will post -0.72 earnings per share for the current year.

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.