McEwen Inc. (NYSE:MUX) Receives Consensus Recommendation 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.

Shares of McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX have earned a consensus rating of "Buy" from the five brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $14.33.

Several research firms have recently commented on MUX. HC Wainwright cut their price target on McEwen from $18.00 to $15.50 and set a "buy" rating for the company in a research note on Friday, May 9th. National Bank Financial upgraded McEwen to a "strong-buy" rating in a research note on Tuesday, April 29th. National Bankshares restated an "outperform" rating on shares of McEwen in a research note on Wednesday, July 16th. Wall Street Zen cut McEwen from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Roth Capital set a $15.00 target price on McEwen and gave the company a "buy" rating in a report on Tuesday, July 1st.

McEwen Stock Down 1.0%

MUX traded down $0.12 on Friday, reaching $11.39. The company's stock had a trading volume of 504,738 shares, compared to its average volume of 852,339. The stock has a 50 day moving average of $9.70 and a two-hundred day moving average of $8.38. The company has a quick ratio of 1.89, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $614.68 million, a price-to-earnings ratio of -19.97 and a beta of 0.98. McEwen has a fifty-two week low of $6.38 and a fifty-two week high of $11.80.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MUX. New Age Alpha Advisors LLC purchased a new stake in McEwen during the 4th quarter worth about $38,000. Aquatic Capital Management LLC increased its position in McEwen by 357.9% during the 4th 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 in the last quarter. Total Wealth Planning & Management Inc. purchased a new stake in McEwen during the 4th quarter worth about $96,000. SBI Securities Co. Ltd. increased its position in 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 purchasing an additional 14,207 shares in the last quarter. Finally, National Bank of Canada FI increased its position in McEwen by 12,910.1% during the 4th quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock worth $110,000 after purchasing an additional 14,072 shares in the last quarter. Institutional investors and hedge funds own 17.03% of the company's stock.

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.