McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX gapped down prior to trading on Monday . The stock had previously closed at $11.22, but opened at $10.67. McEwen Mining shares last traded at $10.85, with a volume of 224,894 shares trading hands.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on MUX. 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 report on Monday, March 4th. TheStreet upgraded shares of McEwen Mining from a "d" rating to a "c" rating in a report on Friday, March 1st.
Check Out Our Latest Report on MUX
McEwen Mining Stock Down 3.2 %
The firm has a market capitalization of $536.92 million, a PE ratio of 9.53 and a beta of 1.53. The business's 50 day simple moving average is $8.77 and its 200 day simple moving average is $7.71. 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 issued its quarterly earnings data on Thursday, February 29th. The basic materials company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of ($0.32) by $3.22. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. The business had revenue of $58.68 million during the quarter, compared to analysts' expectations of $53.00 million. On average, equities research analysts forecast that McEwen Mining Inc will post -0.3 earnings per share for the current year.
Hedge Funds Weigh In On McEwen Mining
A number of institutional investors and hedge funds have recently made changes to their positions in MUX. Cambridge Investment Research Advisors Inc. boosted its stake in shares of McEwen Mining by 5.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 59,342 shares of the basic materials company's stock worth $386,000 after purchasing an additional 3,245 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of McEwen Mining by 2.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,041,114 shares of the basic materials company's stock worth $6,767,000 after purchasing an additional 20,549 shares during the period. Private Advisor Group LLC purchased a new position in shares of McEwen Mining during the 3rd quarter worth about $75,000. Rathbones Group PLC purchased a new stake in McEwen Mining in the 3rd quarter valued at about $74,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in McEwen Mining by 175.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,611 shares of the basic materials company's stock valued at $486,000 after buying an additional 48,192 shares during the period. 17.03% of the stock is owned by hedge funds and other institutional investors.
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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