McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX's stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $20.74 and last traded at $20.28, with a volume of 1382332 shares changing hands. The stock had previously closed at $20.32.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. HC Wainwright upped their price target on McEwen from $17.00 to $21.50 and gave the stock a "buy" rating in a report on Friday, October 10th. Weiss Ratings reiterated a "sell (d+)" rating on shares of McEwen in a research report on Wednesday, October 8th. Roth Capital set a $23.00 price target on McEwen in a research report on Thursday, October 9th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of McEwen in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.00.
Check Out Our Latest Analysis on McEwen
McEwen Stock Performance
The company has a market cap of $1.10 billion, a PE ratio of -81.12 and a beta of 0.99. The stock's 50 day simple moving average is $13.77 and its two-hundred day simple moving average is $10.59. The company has a quick ratio of 1.82, a current ratio of 2.35 and a debt-to-equity ratio of 0.26.
McEwen (NYSE:MUX - Get Free Report) TSE: MUX last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $46.70 million during the quarter, compared to analyst estimates of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. As a group, research analysts anticipate that McEwen Inc. will post -0.72 earnings per share for the current year.
Insider Activity
In related news, CEO Robert Ross Mcewen sold 50,000 shares of McEwen stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $14.35, for a total value of $717,500.00. Following the completion of the transaction, the chief executive officer directly owned 450,000 shares in the company, valued at approximately $6,457,500. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ian J. Ball sold 2,656 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $10.49, for a total value of $27,861.44. The disclosure for this sale can be found here. Insiders sold a total of 77,192 shares of company stock valued at $1,110,702 in the last 90 days. Company insiders own 16.10% of the company's stock.
Institutional Trading of McEwen
Hedge funds have recently made changes to their positions in the stock. Everstar Asset Management LLC lifted its stake in McEwen by 4.3% in the second quarter. Everstar Asset Management LLC now owns 28,988 shares of the basic materials company's stock valued at $279,000 after buying an additional 1,188 shares during the last quarter. Geode Capital Management LLC lifted its position in McEwen by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 509,426 shares of the basic materials company's stock valued at $4,897,000 after purchasing an additional 1,585 shares during the last quarter. Private Advisor Group LLC boosted its stake in McEwen by 16.6% during the 1st quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock valued at $111,000 after purchasing an additional 2,098 shares during the period. Inceptionr LLC grew its position in McEwen by 21.7% in the 2nd quarter. Inceptionr LLC now owns 19,496 shares of the basic materials company's stock worth $187,000 after purchasing an additional 3,480 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of McEwen by 7.6% in the second quarter. American Century Companies Inc. now owns 109,210 shares of the basic materials company's stock valued at $1,050,000 after purchasing an additional 7,702 shares during the period. Institutional investors own 17.03% of the company's stock.
McEwen 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.
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