McEwen Inc. (NYSE:MUX) Receives Consensus Rating of "Buy" from Analysts

Key Points

• McEwen Inc. has received a consensus rating of "Buy" from five brokerages, with an average twelve-month price target of $14.33.
• In its recent quarterly earnings report, McEwen reported an EPS of ($0.12), slightly above the consensus estimate, but its revenue of $35.70 million fell short of expectations.
• Institutional investors own 17.03% of McEwen's stock, with recent transactions indicating increased interest from several hedge funds.

McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX has been given an average rating of "Buy" by the five brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $14.83.

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

Hedge Funds Weigh In On McEwen

A number of large investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its stake in shares of McEwen by 16.6% during the 1st quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock worth $111,000 after buying an additional 2,098 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in McEwen in the 4th quarter valued at about $38,000. Aquatic Capital Management LLC lifted its stake in McEwen by 357.9% in the 4th quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock valued at $57,000 after purchasing an additional 5,727 shares during the last quarter. American Century Companies Inc. lifted its stake in McEwen by 8.8% in 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 during the last quarter. Finally, Total Wealth Planning & Management Inc. acquired a new stake in McEwen in the 4th quarter valued at about $96,000. Institutional investors own 17.03% of the company's stock.

McEwen Trading Down 1.8%

Shares of McEwen stock traded down $0.20 on Friday, hitting $10.64. 208,647 shares of the company's stock traded hands, compared to its average volume of 833,387. The firm's 50-day moving average price is $9.78 and its two-hundred day moving average price is $8.40. The stock has a market capitalization of $574.67 million, a PE ratio of -18.67 and a beta of 0.98. McEwen has a one year low of $6.38 and a one year high of $11.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.89.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.02. McEwen had a negative net margin of 17.51% and a negative return on equity of 6.03%. The business had revenue of $35.70 million during the quarter, compared to analysts' expectations of $39.06 million. On average, research analysts expect that McEwen will post -0.72 EPS for the current fiscal year.

About McEwen

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.