McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX's share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $14.33 and last traded at $13.87, with a volume of 6714 shares. The stock had previously closed at $14.14.
Analyst Ratings Changes
A number of brokerages have recently commented on MUX. Wall Street Zen downgraded McEwen from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Roth Capital set a $15.00 target price on McEwen and gave the company a "buy" rating in a report on Tuesday, July 1st. HC Wainwright lifted their price target on McEwen from $15.50 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, National Bankshares restated an "outperform" rating on shares of McEwen in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat.com, McEwen currently has an average rating of "Buy" and a consensus price target of $14.83.
View Our Latest Research Report on McEwen
McEwen Price Performance
The business's 50-day simple moving average is $11.50 and its 200-day simple moving average is $9.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.82.
McEwen (NYSE:MUX - Get Free Report) TSE: MUX last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). McEwen had a negative return on equity of 2.76% and a negative net margin of 8.05%.The company had revenue of $46.70 million during the quarter, compared to analyst estimates of $49.05 million. On average, research analysts expect that McEwen Inc. will post -0.72 earnings per share for the current fiscal year.
Insider Buying and Selling at McEwen
In other news, Director Ian J. Ball sold 2,656 shares of McEwen stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.49, for a total transaction of $27,861.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On McEwen
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. acquired a new stake in McEwen in the first quarter valued at approximately $6,925,000. Royal Bank of Canada raised its holdings in shares of McEwen by 4,309.4% during the 1st quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company's stock valued at $4,823,000 after purchasing an additional 624,382 shares in the last quarter. Monashee Investment Management LLC acquired a new stake in shares of McEwen in the 1st quarter valued at $2,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in McEwen by 19.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,418,023 shares of the basic materials company's stock worth $13,627,000 after purchasing an additional 233,266 shares in the last quarter. Finally, Alps Advisors Inc. boosted its holdings in McEwen by 41.9% in the first quarter. Alps Advisors Inc. now owns 729,515 shares of the basic materials company's stock worth $5,508,000 after purchasing an additional 215,396 shares in the last quarter. Institutional investors own 17.03% of the company's stock.
About McEwen
(
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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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