McEwen Mining (NYSE:MUX) Cut to "Sell" at Wall Street Zen

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Thursday.

Several other equities research analysts have also recently weighed in on the company. HC Wainwright decreased their target price on McEwen Mining from $18.00 to $15.50 and set a "buy" rating for the company in a research note on Friday, May 9th. Roth Mkm decreased their target price on McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, National Bank Financial upgraded McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th.

McEwen Mining Stock Up 4.0%

NYSE:MUX traded up $0.30 during midday trading on Thursday, reaching $7.97. The company had a trading volume of 795,962 shares, compared to its average volume of 688,747. The stock's fifty day simple moving average is $7.60 and its 200-day simple moving average is $7.89. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. McEwen Mining has a 12-month low of $6.38 and a 12-month high of $12.45. The firm has a market capitalization of $430.45 million, a price-to-earnings ratio of 3.64 and a beta of 0.93.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The business had revenue of $35.70 million during the quarter, compared to analysts' expectations of $39.06 million. On average, sell-side analysts anticipate that McEwen Mining will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On McEwen Mining

Large investors have recently modified their holdings of the stock. New Age Alpha Advisors LLC acquired a new stake in McEwen Mining in the fourth quarter valued at about $38,000. Aquatic Capital Management LLC lifted its holdings in shares of McEwen Mining by 357.9% in the 4th quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock valued at $57,000 after buying an additional 5,727 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in shares of McEwen Mining in the 4th quarter valued at approximately $96,000. Private Advisor Group LLC boosted its stake in shares of McEwen Mining by 18.8% in the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after buying an additional 2,000 shares in the last quarter. Finally, Sprott Inc. acquired a new position in McEwen Mining during the fourth quarter worth $100,000. Hedge funds and other institutional investors own 17.03% of the company's stock.

McEwen Mining 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.