McEwen (NYSE:MUX - Get Free Report) TSE: MUX was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.
Other equities analysts have also recently issued reports about the company. HC Wainwright raised their price objective on McEwen from $21.50 to $29.50 and gave the company a "buy" rating in a research note on Wednesday, March 18th. Roth Mkm lifted their price objective on shares of McEwen from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. Weiss Ratings raised shares of McEwen from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 11th. Finally, Zacks Research downgraded shares of McEwen from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 15th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, McEwen presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.83.
Check Out Our Latest Stock Analysis on McEwen
McEwen Stock Performance
NYSE MUX opened at $24.20 on Friday. The company has a fifty day simple moving average of $22.98 and a 200 day simple moving average of $21.62. McEwen has a 12-month low of $6.88 and a 12-month high of $29.70. The company has a current ratio of 1.14, a quick ratio of 1.27 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.45 billion, a P/E ratio of 20.51 and a beta of 1.19.
McEwen (NYSE:MUX - Get Free Report) TSE: MUX last posted its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.41. McEwen had a net margin of 31.40% and a return on equity of 13.65%. The business had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. Sell-side analysts predict that McEwen will post 0.86 earnings per share for the current fiscal year.
Hedge Funds Weigh In On McEwen
A number of hedge funds have recently bought and sold shares of MUX. Amundi purchased a new position in McEwen during the 4th quarter worth $14,240,000. Synergy Asset Management LLC purchased a new position in shares of McEwen in the 4th quarter worth about $13,547,000. Royal Bank of Canada boosted its holdings in shares of McEwen by 4,309.4% in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of McEwen by 38.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company's stock worth $33,515,000 after buying an additional 541,890 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in shares of McEwen by 228.6% in the 4th quarter. Voloridge Investment Management LLC now owns 701,344 shares of the basic materials company's stock worth $12,982,000 after buying an additional 487,924 shares during the last quarter. 17.03% of the stock is owned by hedge funds and other institutional investors.
About McEwen
(
Get Free Report)
McEwen Mining Inc NYSE: MUX is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.
The company's flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.
Further Reading
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