McEwen Inc. (NYSE:MUX) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX have received a consensus rating of "Moderate Buy" from the six ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $16.1667.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of McEwen in a report on Wednesday. National Bankshares reissued an "outperform" rating on shares of McEwen in a report on Wednesday, July 16th. Roth Capital set a $19.00 price objective on shares of McEwen and gave the company a "buy" rating in a report on Friday, October 3rd. Finally, 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 report on Tuesday, July 29th.

McEwen Price Performance

NYSE MUX opened at $18.80 on Thursday. The firm's fifty day simple moving average is $13.02 and its two-hundred day simple moving average is $10.25. The company has a current ratio of 2.35, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. McEwen has a 12-month low of $6.38 and a 12-month high of $19.12. The firm has a market capitalization of $1.02 billion, a P/E ratio of -75.20 and a beta of 0.99.

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 analysts' consensus estimates of $0.09 by ($0.03). The company had revenue of $46.70 million for the quarter, compared to analysts' expectations of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. Analysts forecast that McEwen will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling at McEwen

In other McEwen news, Director Ian J. Ball sold 2,656 shares of the company'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 document filed with the SEC, which is available through this hyperlink. Also, VP Jeffrey Chan sold 13,333 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $14.89, for a total transaction of $198,528.37. Following the completion of the sale, the vice president directly owned 2,267 shares in the company, valued at approximately $33,755.63. The trade was a 85.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,192 shares of company stock valued at $1,110,702 in the last three months. Company insiders own 16.10% of the company's stock.

Institutional Investors Weigh In On McEwen

Several hedge funds have recently added to or reduced their stakes in MUX. Everstar Asset Management LLC raised its position in shares of 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 acquiring an additional 1,188 shares during the period. Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 1,585 shares during the period. Private Advisor Group LLC raised its position 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 worth $111,000 after acquiring an additional 2,098 shares during the period. Inceptionr LLC raised its position in shares of 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 acquiring an additional 3,480 shares during the period. Finally, American Century Companies Inc. raised its position in shares of McEwen by 7.6% in the second quarter. American Century Companies Inc. now owns 109,210 shares of the basic materials company's stock worth $1,050,000 after acquiring an additional 7,702 shares during the period. 17.03% of the stock is owned by hedge funds and other 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.

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