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

Key Points

• Consensus: Six analysts give McEwen an average rating of "Moderate Buy" (1 sell, 1 hold, 4 buy) with a 1‑year average price target of $29.83.
• Analyst shifts: HC Wainwright and Roth MKM raised targets and issued "buy" ratings (to $29.50 and $35), while Zacks downgraded to "strong sell" and Wall Street Zen cut its rating to "hold," reflecting mixed sentiment.
• Stock and results: MUX opened at $24.22 (market cap $1.44B, P/E 41.06) and reported Q1 EPS of $0.66 that beat estimates despite revenue missing expectations; institutional ownership is about 17% with several recent small fund purchases.

McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX has received an average rating of "Moderate Buy" from the six research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $29.8333.

A number of analysts have recently issued reports on MUX shares. HC Wainwright boosted their target price on shares of McEwen from $21.50 to $29.50 and gave the company a "buy" rating in a research note on Wednesday, March 18th. Zacks Research lowered shares of McEwen from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 15th. Roth Mkm upped their target price on McEwen from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. Wall Street Zen cut McEwen from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Finally, Weiss Ratings upgraded McEwen from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 11th.

Institutional Investors Weigh In On McEwen

Hedge funds have recently made changes to their positions in the company. CoreCap Advisors LLC purchased a new stake in shares of McEwen in the 3rd quarter worth $27,000. Parkside Financial Bank & Trust purchased a new stake in shares of McEwen in the 4th quarter worth $37,000. Banque Cantonale Vaudoise purchased a new stake in shares of McEwen in the 4th quarter worth $40,000. National Bank of Canada FI lifted its holdings in shares of McEwen by 3,328.3% in the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company's stock worth $62,000 after buying an additional 3,528 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of McEwen by 330.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company's stock worth $76,000 after buying an additional 3,152 shares during the period. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

McEwen Stock Down 0.1%

Shares of MUX opened at $24.22 on Monday. The firm has a market capitalization of $1.44 billion, a P/E ratio of 41.06 and a beta of 1.28. McEwen has a 12-month low of $6.88 and a 12-month high of $29.70. The company has a current ratio of 1.69, a quick ratio of 1.27 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $23.45 and a 200-day moving average price of $21.54.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.41. The firm had revenue of $64.60 million during the quarter, compared to analyst estimates of $72.83 million. McEwen had a net margin of 17.43% and a return on equity of 6.89%. Equities research analysts expect that McEwen will post 0.86 earnings per share for the current year.

About McEwen

McEwen Mining Inc NYSE: MUX is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company's flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.

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