McEwen Mining Inc. (NYSE:MUX - Get Free Report) TSE: MUX's share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.14 and traded as high as $10.86. McEwen Mining shares last traded at $10.63, with a volume of 1,019,154 shares changing hands.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. 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 research note on Friday, March 21st. Roth Capital set a $15.00 target price on McEwen Mining and gave the company a "buy" rating in a research note on Tuesday, July 1st. Wall Street Zen downgraded McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. National Bank Financial upgraded McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. Finally, HC Wainwright lowered 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. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.33.
Check Out Our Latest Stock Analysis on McEwen Mining
McEwen Mining Stock Down 0.9%
The firm has a market capitalization of $586.96 million, a price-to-earnings ratio of -19.07 and a beta of 0.98. The stock has a 50 day moving average of $8.94 and a 200 day moving average of $8.16. The company has a quick ratio of 1.89, a current ratio of 2.35 and a debt-to-equity ratio of 0.26.
McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.02. The business had revenue of $35.70 million during the quarter, compared to the consensus estimate of $39.06 million. McEwen Mining had a negative return on equity of 6.03% and a negative net margin of 17.51%. As a group, analysts expect that McEwen Mining Inc. will post -0.72 earnings per share for the current fiscal year.
Hedge Funds Weigh In On McEwen Mining
A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in McEwen Mining by 44.2% in the first quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company's stock worth $481,000 after purchasing an additional 19,548 shares in the last quarter. Empowered Funds LLC grew its stake in McEwen Mining by 105.4% in the first quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company's stock worth $1,571,000 after purchasing an additional 106,800 shares in the last quarter. Everstar Asset Management LLC acquired a new position in McEwen Mining in the first quarter worth about $128,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in McEwen Mining by 10.2% in the first 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 during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in McEwen Mining by 39.4% in the first quarter. Bridgeway Capital Management LLC now owns 378,100 shares of the basic materials company's stock worth $2,855,000 after acquiring an additional 106,800 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.
McEwen Mining Company Profile
(
Get Free Report)
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.
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