NYSE:MUX - Get Free Report ) TSE: MUX gapped down prior to trading on Thursday . The stock had previously closed at $12.18, but opened at $11.28. McEwen Mining shares last traded at $10.46, with a volume of 635,695 shares trading hands.
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Wall Street Analyst Weigh In MUX has been the topic of several research reports. HC Wainwright decreased their target price on McEwen Mining from $18.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 4th. TheStreet raised shares of McEwen Mining from a "d" rating to a "c" rating in a research report on Friday, March 1st.
Read Our Latest Analysis on MUX
McEwen Mining Price Performance The stock's 50 day moving average is $10.11 and its two-hundred day moving average is $8.08. 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 has a market capitalization of $510.22 million, a PE ratio of 8.70 and a beta of 1.48.
McEwen Mining (NYSE:MUX - Get Free Report ) TSE: MUX last posted its earnings results 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 return on equity of 19.20% and a net margin of 32.92%. The business had revenue of $58.68 million for the quarter, compared to analysts' expectations of $53.00 million. As a group, sell-side analysts forecast that McEwen Mining Inc will post -0.3 earnings per share for the current fiscal year.
Institutional Trading of McEwen Mining Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in McEwen Mining by 5.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 59,342 shares of the basic materials company's stock valued at $386,000 after acquiring an additional 3,245 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in McEwen Mining by 2.0% during the third 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 buying an additional 20,549 shares during the period. Private Advisor Group LLC purchased a new position in McEwen Mining in the third quarter valued at about $75,000. Rathbones Group PLC acquired a new stake in shares of McEwen Mining during the 3rd quarter valued at approximately $74,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake 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 purchasing an additional 48,192 shares in the last quarter. Hedge funds and other institutional investors 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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