McEwen (NYSE:MUX) Trading 13% Higher - Time to Buy?

Key Points

• 13% price jump to $25.80 on Thursday, but trading was thin at 221,008 shares (about an 81% decline versus the ~1.18M average), suggesting a volatile, low‑volume move.
• Analysts show a consensus "Moderate Buy" with an average target of $29.83; four buy ratings (including target raises from Roth MKM to $35 and HC Wainwright to $29.50), one hold and one sell.
• Latest quarter: EPS beat at $0.66 vs. $0.25 expected but revenue missed ($64.6M vs. $72.8M); the stock trades at a P/E of 39.5, market cap ~$1.39B and a low debt/equity of 0.23.

McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX's share price traded up 13% during trading on Thursday . The company traded as high as $25.69 and last traded at $25.7960. 221,008 shares were traded during trading, a decline of 81% from the average session volume of 1,176,158 shares. The stock had previously closed at $22.82.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen cut McEwen from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Roth Mkm increased their target price on McEwen from $30.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Zacks Research cut McEwen from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 15th. HC Wainwright increased their target price on McEwen from $21.50 to $29.50 and gave the company a "buy" rating in a report on Wednesday, March 18th. Finally, Weiss Ratings raised McEwen from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 11th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.83.

McEwen Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.27. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 39.53 and a beta of 1.19. The firm has a fifty day moving average of $23.05 and a 200 day moving average of $21.61.

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 EPS for the quarter, beating the consensus estimate of $0.25 by $0.41. McEwen had a return on equity of 6.89% and a net margin of 17.43%.The firm had revenue of $64.60 million during the quarter, compared to analysts' expectations of $72.83 million. As a group, sell-side analysts forecast that McEwen Inc. will post 0.86 EPS for the current year.

Institutional Investors Weigh In On McEwen

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of McEwen by 24.4% in the fourth quarter. State Street Corp now owns 2,190,605 shares of the basic materials company's stock valued at $40,548,000 after purchasing an additional 429,761 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in McEwen by 38.2% during the third 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 acquiring an additional 541,890 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in McEwen by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company's stock worth $21,982,000 after acquiring an additional 15,439 shares during the last quarter. BNP Paribas Financial Markets increased its stake in McEwen by 56.3% during the fourth quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company's stock worth $18,540,000 after acquiring an additional 360,857 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in McEwen by 3.1% during the third quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company's stock worth $15,122,000 after acquiring an additional 26,846 shares during the last quarter. Institutional investors and hedge funds own 17.03% of the company's stock.

McEwen Company Profile

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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