McEwen Mining Inc. (NYSE:MUX - Get Free Report) TSE: MUX's share price dropped 5.4% on Tuesday . The stock traded as low as $10.84 and last traded at $10.77. Approximately 196,163 shares were traded during trading, a decline of 72% from the average daily volume of 707,229 shares. The stock had previously closed at $11.38.
Analysts Set New Price Targets
A number of research firms recently commented on MUX. Wall Street Zen downgraded McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright decreased their price target on shares of McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a research report on Friday, May 9th. Roth Mkm decreased their target price 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. National Bank Financial raised shares of McEwen Mining to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, National Bankshares restated an "outperform" rating on shares of McEwen Mining in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.33.
Check Out Our Latest Analysis on MUX
McEwen Mining Price Performance
The stock's 50-day moving average price is $8.68 and its 200-day moving average price is $8.08. The company has a market capitalization of $585.77 million, a price-to-earnings ratio of -19.04 and a beta of 0.98. 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 announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. McEwen Mining had a negative net margin of 17.51% and a negative return on equity of 6.03%. The business had revenue of $35.70 million for the quarter, compared to analyst estimates of $39.06 million. Equities research analysts anticipate that McEwen Mining Inc. will post -0.72 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of MUX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of McEwen Mining by 10.2% during the 1st 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 buying an additional 109,770 shares during the period. Tidal Investments LLC boosted its holdings in shares of McEwen Mining by 556.7% during the 4th quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company's stock worth $7,810,000 after buying an additional 850,971 shares during the period. Nomura Holdings Inc. bought a new stake in shares of McEwen Mining during the 1st quarter worth about $6,925,000. Alps Advisors Inc. boosted its holdings in shares of McEwen Mining by 41.9% during the 1st quarter. Alps Advisors Inc. now owns 729,515 shares of the basic materials company's stock worth $5,508,000 after buying an additional 215,396 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of McEwen Mining by 4,309.4% during the 1st quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company's stock worth $4,823,000 after buying an additional 624,382 shares during the period. Institutional investors own 17.03% of the company's stock.
McEwen Mining Company Profile
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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.
Further Reading
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