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

Key Points

• McEwen Inc. (NYSE:MUX) has received a consensus rating of "Buy" from five research firms, with four analysts indicating a buy and one a strong buy, as well as an average target price of $14.83.
• The company reported $0.06 earnings per share for the last quarter, falling short of the consensus estimate of $0.09, alongside a revenue of $46.70 million against expectations of $49.05 million.
• Insider activity shows Director Ian J. Ball sold 2,656 shares at an average price of $10.49, while institutional investors hold approximately 17.03% of the company's stock.

McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX has been given an average recommendation of "Buy" by the five research firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $14.8333.

Several analysts have weighed in on MUX shares. Wall Street Zen lowered shares of McEwen from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright boosted their price objective on shares of McEwen from $15.50 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. National Bankshares reissued an "outperform" rating on shares of McEwen in a report on Wednesday, July 16th. Finally, Roth Capital set a $15.00 target price on McEwen and gave the company a "buy" rating in a research note on Tuesday, July 1st.

McEwen Trading Up 0.1%

Shares of NYSE MUX opened at $13.83 on Friday. The company has a quick ratio of 1.82, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The stock's 50 day moving average price is $11.34 and its two-hundred day moving average price is $9.22. McEwen has a 52-week low of $6.38 and a 52-week high of $14.29. The stock has a market capitalization of $748.34 million, a P/E ratio of -55.32 and a beta of 0.96.

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

Insider Buying and Selling

In related news, Director Ian J. Ball sold 2,656 shares of the company's stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McEwen

Several hedge funds and other institutional investors have recently modified their holdings of the company. Total Wealth Planning & Management Inc. bought a new position in shares of McEwen during the fourth quarter worth about $96,000. Tower Research Capital LLC TRC boosted its stake in McEwen by 17,204.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company's stock valued at $101,000 after purchasing an additional 10,495 shares during the period. SBI Securities Co. Ltd. grew its position in McEwen by 9,935.0% in 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 during the last quarter. Private Advisor Group LLC increased its stake in shares of McEwen by 16.6% in the first quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock valued at $111,000 after purchasing an additional 2,098 shares during the period. Finally, Pale Fire Capital SE bought a new stake in shares of McEwen during the second quarter valued at approximately $119,000. Institutional investors and hedge funds own 17.03% of the company's stock.

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.

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