McEwen Mining (NYSE:MUX) Sets New 52-Week High at $11.63

McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX's share price hit a new 52-week high on Tuesday . The stock traded as high as $11.63 and last traded at $11.47, with a volume of 166053 shares changing hands. The stock had previously closed at $11.31.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. TheStreet raised shares of McEwen Mining from a "d" rating to a "c" rating in a research report on Friday, March 1st. HC Wainwright reduced their price target on shares of McEwen Mining from $18.50 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 4th.

McEwen Mining Stock Up 2.8 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.76 and a quick ratio of 1.09. The stock's fifty day simple moving average is $7.90 and its 200-day simple moving average is $7.37. The stock has a market cap of $574.99 million, a P/E ratio of 10.11 and a beta of 1.53.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its earnings results on Thursday, February 29th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.32) by $3.22. The firm had revenue of $58.68 million for the quarter, compared to analysts' expectations of $53.00 million. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. On average, research analysts anticipate that McEwen Mining Inc will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On McEwen Mining

A number of hedge funds have recently made changes to their positions in MUX. Renaissance Technologies LLC increased its stake in shares of McEwen Mining by 428.2% during the first quarter. Renaissance Technologies LLC now owns 1,421,300 shares of the basic materials company's stock valued at $1,196,000 after acquiring an additional 1,152,200 shares during the period. BlackRock Inc. increased its stake in shares of McEwen Mining by 11.1% during the first quarter. BlackRock Inc. now owns 9,331,628 shares of the basic materials company's stock valued at $7,854,000 after acquiring an additional 930,532 shares during the period. Jane Street Group LLC grew its position in McEwen Mining by 136.3% in the fourth quarter. Jane Street Group LLC now owns 624,140 shares of the basic materials company's stock worth $3,657,000 after buying an additional 360,063 shares during the last quarter. Claraphi Advisory Network LLC acquired a new position in McEwen Mining in the fourth quarter worth approximately $1,205,000. Finally, Goldman Sachs Group Inc. grew its position in McEwen Mining by 42.7% in the first quarter. Goldman Sachs Group Inc. now owns 657,626 shares of the basic materials company's stock worth $554,000 after buying an additional 196,820 shares during the last quarter. Institutional investors own 17.03% of the company's stock.

McEwen Mining Company Profile

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.