Shares of McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX hit a new 52-week high on Wednesday . The company traded as high as $10.87 and last traded at $10.74, with a volume of 108655 shares changing hands. The stock had previously closed at $10.80.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. TheStreet raised McEwen Mining from a "d" rating to a "c" rating in a research note on Friday, March 1st. HC Wainwright lowered their target price on McEwen Mining from $18.50 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 4th.
Read Our Latest Research Report on McEwen Mining
McEwen Mining Price Performance
The stock has a market cap of $548.29 million, a price-to-earnings ratio of 9.73 and a beta of 1.53. The stock has a fifty day simple moving average of $7.65 and a 200-day simple moving average of $7.28. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 0.08.
McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last released its earnings results on Thursday, February 29th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.32) by $3.22. The firm had revenue of $58.68 million for the quarter, compared to analyst estimates of $53.00 million. McEwen Mining had a return on equity of 19.20% and a net margin of 32.92%. As a group, equities research analysts expect that McEwen Mining Inc will post -0.3 EPS for the current year.
Institutional Trading of McEwen Mining
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of McEwen Mining by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 609,984 shares of the basic materials company's stock worth $4,398,000 after purchasing an additional 27,113 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of McEwen Mining by 167.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 47,672 shares of the basic materials company's stock worth $344,000 after purchasing an additional 29,868 shares in the last quarter. Virtu Financial LLC acquired a new stake in McEwen Mining in the 4th quarter valued at $147,000. Occudo Quantitative Strategies LP acquired a new stake in McEwen Mining in the 4th quarter valued at $540,000. Finally, Royal Bank of Canada boosted its stake in McEwen Mining by 167.8% in the 4th quarter. Royal Bank of Canada now owns 56,457 shares of the basic materials company's stock valued at $407,000 after buying an additional 35,379 shares in the last quarter. Institutional investors and hedge funds own 17.03% of the company's stock.
About McEwen Mining
(
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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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