McEwen Mining (NYSE:MUX) Shares Up 5.5%

McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX's share price was up 5.5% on Monday . The company traded as high as $10.45 and last traded at $10.40. Approximately 355,326 shares were traded during trading, a decline of 41% from the average daily volume of 605,609 shares. The stock had previously closed at $9.86.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MUX shares. TheStreet raised shares of McEwen Mining from a "d" rating to a "c" rating in a research report on Friday, March 1st. HC Wainwright dropped 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 note on Monday, March 4th.

McEwen Mining Stock Up 7.5 %

The company has a market capitalization of $524.06 million, a PE ratio of 9.23 and a beta of 1.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.76. The stock's 50 day moving average is $7.39 and its 200 day moving average is $7.20.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last announced its quarterly earnings results on Thursday, February 29th. The basic materials company reported $2.90 EPS for the quarter, beating 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 company had revenue of $58.68 million for the quarter, compared to analysts' expectations of $53.00 million. On average, sell-side analysts anticipate that McEwen Mining Inc will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On McEwen Mining

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG lifted its position in shares of McEwen Mining by 37.3% in the 2nd quarter. UBS Group AG now owns 83,005 shares of the basic materials company's stock worth $36,000 after purchasing an additional 22,541 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of McEwen Mining by 968.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,950 shares of the basic materials company's stock worth $43,000 after purchasing an additional 5,393 shares during the period. Citigroup Inc. purchased a new stake in shares of McEwen Mining in the 2nd quarter worth about $45,000. Jane Street Group LLC lifted its position in shares of McEwen Mining by 47.1% in the 2nd quarter. Jane Street Group LLC now owns 121,791 shares of the basic materials company's stock worth $53,000 after purchasing an additional 38,985 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of McEwen Mining by 221.4% in the 1st quarter. Bank of America Corp DE now owns 7,544 shares of the basic materials company's stock worth $64,000 after purchasing an additional 5,197 shares during the period. 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.