McEwen Mining (NYSE:MUX) Stock Price Up 5.6%

McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX shot up 5.6% during trading on Monday . The stock traded as high as $11.97 and last traded at $11.97. 482,664 shares traded hands during trading, a decline of 35% from the average session volume of 744,921 shares. The stock had previously closed at $11.33.

Analysts Set New Price Targets

Several brokerages have commented on MUX. TheStreet upgraded shares of McEwen Mining from a "d" rating to a "c" rating in a research report on Friday, March 1st. Roth Mkm restated a "buy" rating and set a $12.00 target price (up from $11.00) on shares of McEwen Mining in a research report on Friday, May 10th. Finally, HC Wainwright boosted their target price on shares of McEwen Mining from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 13th.

McEwen Mining Stock Performance

The stock's 50 day moving average price is $10.61 and its 200 day moving average price is $8.29. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08. The company has a market cap of $589.82 million, a price-to-earnings ratio of 7.27 and a beta of 1.48.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last posted its quarterly earnings results on Thursday, February 29th. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of ($0.32) by $3.22. McEwen Mining had a net margin of 44.83% and a return on equity of 16.46%. The firm had revenue of $58.68 million for the quarter, compared to analyst estimates of $53.00 million. On average, analysts expect that McEwen Mining Inc will post -0.7 EPS for the current fiscal year.

Institutional Trading of McEwen Mining

A number of hedge funds have recently made changes to their positions in MUX. Quadrature Capital Ltd purchased a new stake in shares of McEwen Mining during the third quarter valued at approximately $72,000. Rathbones Group PLC acquired a new stake in shares of McEwen Mining during the third quarter worth approximately $74,000. Private Advisor Group LLC acquired a new stake in shares of McEwen Mining during the third quarter worth approximately $75,000. Fifth Third Bancorp acquired a new stake in shares of McEwen Mining during the fourth quarter worth approximately $98,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of McEwen Mining during the fourth quarter worth approximately $107,000. Hedge funds and other 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.