What is HC Wainwright's Forecast for McEwen FY2025 Earnings?

Key Points

• HC Wainwright analysts have raised their FY2025 EPS estimate for McEwen to ($0.45) per share from ($0.49), maintaining a "Buy" rating with a target price of $17.00.
• The company posted quarterly earnings of ($0.12) per share, surpassing estimates but reported lower revenue of $35.70 million against the expected $39.06 million.
• Institutional investment in McEwen has increased significantly, with several hedge funds making notable stake acquisitions in the past quarters.

McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX - Analysts at HC Wainwright raised their FY2025 earnings per share (EPS) estimates for shares of McEwen in a report released on Tuesday, July 29th. HC Wainwright analyst H. Ihle now anticipates that the basic materials company will post earnings per share of ($0.45) for the year, up from their previous forecast of ($0.49). HC Wainwright currently has a "Buy" rating and a $17.00 price objective on the stock. The consensus estimate for McEwen's current full-year earnings is ($0.72) per share.

Several other brokerages have also issued reports on MUX. Roth Capital set a $15.00 price target on McEwen and gave the stock a "buy" rating in a research note on Tuesday, July 1st. National Bank Financial raised McEwen to a "strong-buy" rating in a research note on Tuesday, April 29th. National Bankshares reaffirmed an "outperform" rating on shares of McEwen in a research note on Wednesday, July 16th. Finally, Wall Street Zen lowered McEwen from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $14.83.

McEwen Price Performance

MUX stock traded down $0.11 during mid-day trading on Thursday, hitting $10.05. 852,530 shares of the stock were exchanged, compared to its average volume of 749,877. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.89. The business has a fifty day moving average price of $9.98 and a 200 day moving average price of $8.45. McEwen has a 12 month low of $6.38 and a 12 month high of $11.80. The stock has a market capitalization of $542.60 million, a price-to-earnings ratio of -17.63 and a beta of 0.88.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. McEwen had a negative return on equity of 6.03% and a negative net margin of 17.51%. The firm had revenue of $35.70 million for the quarter, compared to analysts' expectations of $39.06 million.

Institutional Investors Weigh In On McEwen

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd bought a new stake in shares of McEwen in the 2nd quarter valued at about $947,000. Goldman Sachs Group Inc. lifted its stake in shares of McEwen by 44.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company's stock valued at $481,000 after acquiring an additional 19,548 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of McEwen by 105.4% in the 1st quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company's stock valued at $1,571,000 after acquiring an additional 106,800 shares during the last quarter. Everstar Asset Management LLC bought a new stake in shares of McEwen in the 1st quarter valued at about $128,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of McEwen by 10.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,184,757 shares of the basic materials company's stock valued at $8,945,000 after acquiring an additional 109,770 shares during the last quarter. Institutional investors own 17.03% of the company's stock.

McEwen 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.