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

McEwen Mining Inc. (NYSE:MUX - Get Free Report) TSE: MUX's share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Ratings Changes

A number of brokerages recently commented on MUX. National Bankshares reissued an "outperform" rating on shares of McEwen Mining in a research note on Tuesday, June 24th. Roth Capital set a $15.00 price target on shares of McEwen Mining and gave the company a "buy" rating in a research report on Tuesday, July 1st. Roth Mkm dropped their price objective on shares of McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a research note on Friday, March 21st. HC Wainwright reduced their target price on McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen cut McEwen Mining from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $14.33.

McEwen Mining Stock Down 1.1%

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.89. The stock has a market cap of $573.75 million, a price-to-earnings ratio of -18.64 and a beta of 0.98. The firm's 50-day moving average is $8.87 and its 200 day moving average is $8.14.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. McEwen Mining had a negative return on equity of 6.03% and a negative net margin of 17.51%. The company had revenue of $35.70 million during the quarter, compared to analyst estimates of $39.06 million. Sell-side analysts anticipate that McEwen Mining Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of McEwen Mining

Large investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its stake in McEwen Mining by 16.6% in the first quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock worth $111,000 after purchasing an additional 2,098 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in McEwen Mining during the 4th quarter valued at $38,000. Aquatic Capital Management LLC boosted its position in McEwen Mining by 357.9% during the 4th quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock worth $57,000 after acquiring an additional 5,727 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in McEwen Mining by 1.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company's stock valued at $3,103,000 after purchasing an additional 5,800 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in McEwen Mining by 8.8% in the 4th quarter. American Century Companies Inc. now owns 92,346 shares of the basic materials company's stock valued at $718,000 after acquiring an additional 7,492 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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