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

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

A number of other brokerages have also recently issued reports on MUX. HC Wainwright dropped their price objective on shares of 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 lowered their target price on shares of McEwen Mining from $13.00 to $12.50 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, National Bank Financial raised shares of McEwen Mining to a "strong-buy" rating in a report on Tuesday, April 29th.

McEwen Mining Stock Performance

Shares of NYSE MUX traded up $0.09 during trading hours on Thursday, hitting $8.05. 587,683 shares of the stock were exchanged, compared to its average volume of 688,630. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The company's 50 day moving average is $7.59 and its 200 day moving average is $7.87. The firm has a market capitalization of $434.60 million, a P/E ratio of 3.68 and a beta of 0.93. McEwen Mining has a one year low of $6.38 and a one year high of $12.45.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Private Advisor Group LLC boosted its stake in shares of McEwen Mining by 18.8% in the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after purchasing an additional 2,000 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of McEwen Mining in the 4th quarter valued at approximately $526,000. Quantbot Technologies LP raised its position in shares of McEwen Mining by 53.5% in the 4th quarter. Quantbot Technologies LP now owns 37,980 shares of the basic materials company's stock valued at $295,000 after acquiring an additional 13,230 shares during the period. Empowered Funds LLC acquired a new stake in shares of McEwen Mining in the 4th quarter valued at approximately $788,000. Finally, Norges Bank acquired a new stake in shares of McEwen Mining in the 4th quarter valued at approximately $421,000. 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.