McEwen Mining (NYSE:MUX) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of McEwen Mining (NYSE:MUXGet Rating) (TSE:MUX) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “U.S. GOLD CORP. is primarily engaged in the precious metal mining business in the continental United States, however, it may also evaluate properties outside the United States. “

MUX has been the topic of several other research reports. StockNews.com started coverage on McEwen Mining in a research note on Thursday, March 31st. They issued a sell rating on the stock. Alliance Global Partners decreased their price objective on McEwen Mining from $1.75 to $1.50 and set a buy rating on the stock in a research note on Thursday, March 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, McEwen Mining has an average rating of Hold and a consensus price target of $1.53.

Shares of NYSE:MUX opened at $0.50 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.62 and a quick ratio of 1.32. The stock’s 50-day simple moving average is $0.77 and its two-hundred day simple moving average is $0.88. McEwen Mining has a 52-week low of $0.46 and a 52-week high of $1.71.

McEwen Mining (NYSE:MUXGet Rating) (TSE:MUX) last announced its earnings results on Tuesday, March 1st. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $34.90 million. McEwen Mining had a negative return on equity of 16.08% and a negative net margin of 46.05%. Equities analysts anticipate that McEwen Mining will post -0.1 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallax Volatility Advisers L.P. bought a new stake in McEwen Mining during the 4th quarter valued at approximately $27,000. Fort Sheridan Advisors LLC bought a new stake in McEwen Mining during the 4th quarter valued at approximately $27,000. Janus Henderson Group PLC bought a new stake in McEwen Mining during the 3rd quarter valued at approximately $40,000. FirstPurpose Wealth LLC bought a new stake in McEwen Mining during the 4th quarter valued at approximately $34,000. Finally, Squarepoint Ops LLC bought a new stake in McEwen Mining during the 3rd quarter valued at approximately $48,000. 23.59% of the stock is currently owned by institutional investors.

About McEwen Mining (Get Rating)

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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