McEwen Mining (NYSE:MUX) Stock Rating Upgraded by National Bank Financial

National Bank Financial upgraded shares of McEwen Mining (NYSE:MUX - Free Report) TSE: MUX to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also weighed in on MUX. Roth Mkm decreased their price objective 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 reiterated a "buy" rating and issued a $18.00 target price on shares of McEwen Mining in a research note on Wednesday, March 19th. Finally, StockNews.com cut shares of McEwen Mining from a "hold" rating to a "sell" rating in a research note on Wednesday, February 19th.

McEwen Mining Stock Performance

Shares of McEwen Mining stock traded down $0.18 on Tuesday, reaching $7.34. 480,782 shares of the company traded hands, compared to its average volume of 706,334. The company has a 50 day moving average of $7.52 and a 200 day moving average of $8.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. McEwen Mining has a 52 week low of $6.38 and a 52 week high of $12.45. The firm has a market capitalization of $395.88 million, a PE ratio of 3.35 and a beta of 1.21.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last announced its quarterly earnings data on Friday, March 14th. The basic materials company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $33.52 million for the quarter, compared to the consensus estimate of $32.20 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. Equities analysts forecast that McEwen Mining will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On McEwen Mining

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC grew its stake in McEwen Mining by 18.8% during the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after acquiring an additional 2,000 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in McEwen Mining in the 4th quarter valued at $526,000. Quantbot Technologies LP boosted its holdings in 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 purchasing an additional 13,230 shares during the period. Geode Capital Management LLC grew its position in shares of McEwen Mining by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company's stock valued at $4,383,000 after purchasing an additional 25,844 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of McEwen Mining in the fourth quarter worth $788,000. 17.03% of the stock is currently owned by institutional investors.

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.