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

Key Points

• McEwen's share price crossed above its 200‑day moving average (200‑day MA $20.86), trading as high as $22.63 and last at $22.3990, roughly a 3.7% intraday gain.
• Analyst sentiment is positive overall with a consensus "Moderate Buy" and an average price target of $29.83; four analysts rate the stock Buy and one rates it Hold, with Roth MKM and HC Wainwright recently raising targets to $35 and $29.50.
• Fundamentals show mixed signals: McEwen reported a quarterly EPS of $0.66 vs. $0.25 expected while revenue missed at $64.6M (est. $72.8M); market cap is $1.33B, P/E 37.96, and analysts forecast -$0.72 EPS for the current fiscal year.

McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX's share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.86 and traded as high as $22.63. McEwen shares last traded at $22.3990, with a volume of 1,092,245 shares.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MUX. Wall Street Zen cut shares of McEwen from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Weiss Ratings upgraded shares of McEwen from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 11th. Roth Mkm increased their target price on shares of McEwen from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. Finally, HC Wainwright increased their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a "buy" rating in a report on Wednesday, March 18th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, McEwen has a consensus rating of "Moderate Buy" and an average price target of $29.83.

McEwen Stock Up 3.7%

The firm has a market capitalization of $1.33 billion, a P/E ratio of 37.96 and a beta of 1.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.27 and a current ratio of 1.69. The business's fifty day moving average price is $23.64 and its two-hundred day moving average price is $20.86.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.41. The business had revenue of $64.60 million for the quarter, compared to the consensus estimate of $72.83 million. McEwen had a return on equity of 6.89% and a net margin of 17.43%. Equities analysts expect that McEwen Inc. will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On McEwen

Large investors have recently made changes to their positions in the business. CoreCap Advisors LLC acquired a new position in shares of McEwen during the third quarter worth $27,000. Parkside Financial Bank & Trust acquired a new position in shares of McEwen during the fourth quarter worth $37,000. Banque Cantonale Vaudoise acquired a new position in shares of McEwen during the fourth quarter worth $40,000. National Bank of Canada FI raised its position in shares of McEwen by 3,328.3% in the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 3,528 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of McEwen by 330.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 3,152 shares during the last quarter. 17.03% of the stock is owned by institutional investors and hedge funds.

About McEwen

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.

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