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

McEwen Mining Inc. (NYSE:MUX - Get Free Report) TSE: MUX has been assigned an average recommendation of "Buy" from the five brokerages that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $14.33.

A number of research firms have weighed in on MUX. Roth Mkm lowered their target price on McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a report on Friday, March 21st. HC Wainwright reduced their price target on McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a research report on Friday, May 9th. Roth Capital set a $15.00 price target on McEwen Mining and gave the stock a "buy" rating in a research report on Tuesday. National Bank Financial raised McEwen Mining to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of McEwen Mining in a research report on Tuesday, June 24th.

McEwen Mining Stock Up 3.5%

McEwen Mining stock traded up $0.39 during mid-day trading on Tuesday, reaching $11.38. 770,561 shares of the company were exchanged, compared to its average volume of 705,321. The business has a fifty day moving average of $8.47 and a 200 day moving average of $8.01. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.89 and a current ratio of 2.35. The firm has a market cap of $614.14 million, a P/E ratio of -19.96 and a beta of 0.98. McEwen Mining has a 12-month low of $6.38 and a 12-month high of $11.46.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last posted its earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.02. The company had revenue of $35.70 million during the quarter, compared to analyst estimates of $39.06 million. McEwen Mining had a negative return on equity of 6.03% and a negative net margin of 17.51%. Research analysts anticipate that McEwen Mining will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On McEwen Mining

Several hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of McEwen Mining by 10.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,184,757 shares of the basic materials company's stock worth $8,945,000 after acquiring an additional 109,770 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of McEwen Mining by 556.7% during the 4th quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company's stock worth $7,810,000 after acquiring an additional 850,971 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of McEwen Mining during the 1st quarter worth about $6,925,000. Alps Advisors Inc. boosted its stake in shares of McEwen Mining by 41.9% during the 1st quarter. Alps Advisors Inc. now owns 729,515 shares of the basic materials company's stock worth $5,508,000 after acquiring an additional 215,396 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of McEwen Mining by 4,309.4% during the 1st quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company's stock worth $4,823,000 after acquiring an additional 624,382 shares in the last quarter. 17.03% of the stock is owned by hedge funds and other institutional investors.

About McEwen Mining

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.