McEwen Mining (NYSE:MUX) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX's stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.89 and traded as high as $9.45. McEwen Mining shares last traded at $9.35, with a volume of 739,264 shares trading hands.

Analyst Upgrades and Downgrades

MUX has been the subject of a number of analyst reports. National Bank Financial raised shares of McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. HC Wainwright dropped their target price on shares of McEwen Mining from $18.00 to $15.50 and set a "buy" rating for the company in a report on Friday, May 9th. Wall Street Zen lowered McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Roth Mkm lowered their price objective on McEwen Mining from $13.00 to $12.50 and set a "buy" rating on the stock in a research report on Friday, March 21st.

McEwen Mining Stock Down 2.6%

The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The company has a 50 day simple moving average of $7.82 and a two-hundred day simple moving average of $7.90. The firm has a market capitalization of $500.52 million, a P/E ratio of 4.23 and a beta of 0.95.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued 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 firm had revenue of $35.70 million during the quarter, compared to analyst estimates of $39.06 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. On average, equities analysts predict that McEwen Mining Inc will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. New Age Alpha Advisors LLC bought a new stake in shares of McEwen Mining in the fourth quarter worth about $38,000. Aquatic Capital Management LLC boosted its stake in McEwen Mining by 357.9% during the fourth 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 last quarter. Total Wealth Planning & Management Inc. purchased a new position in McEwen Mining during the 4th quarter valued at approximately $96,000. Private Advisor Group LLC increased its stake in 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 worth $98,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Sprott Inc. bought a new stake in McEwen Mining in the 4th quarter worth approximately $100,000. 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.