McEwen Mining (NYSE:MUX) Trading Up 4.3%

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) shares were up 4.3% on Thursday . The stock traded as high as $11.39 and last traded at $11.36. Approximately 136,383 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 683,735 shares. The stock had previously closed at $10.89.

Wall Street Analyst Weigh In

Several research firms have issued reports on MUX. TheStreet upgraded shares of McEwen Mining from a “d” rating to a “c” rating in a research report on Friday, March 1st. HC Wainwright reduced their target price 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 4.5 %

The business’s fifty day simple moving average is $8.52 and its 200 day simple moving average is $7.60. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 0.08. The stock has a market cap of $562.63 million, a price-to-earnings ratio of 9.56 and a beta of 1.53.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data 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. The business had revenue of $58.68 million during the quarter, compared to the consensus estimate of $53.00 million. McEwen Mining had a return on equity of 19.20% and a net margin of 32.92%. Equities analysts forecast that McEwen Mining Inc will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank lifted its holdings in shares of McEwen Mining by 7.3% during the 1st quarter. Swiss National Bank now owns 922,931 shares of the basic materials company’s stock valued at $777,000 after purchasing an additional 62,400 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of McEwen Mining by 5,296.2% in the first quarter. JPMorgan Chase & Co. now owns 101,233 shares of the basic materials company’s stock valued at $85,000 after purchasing an additional 99,357 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of McEwen Mining by 6.7% in the first quarter. Bank of Montreal Can now owns 501,778 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 31,493 shares in the last quarter. BlackRock Inc. boosted its position in shares of McEwen Mining by 11.1% during the first quarter. BlackRock Inc. now owns 9,331,628 shares of the basic materials company’s stock worth $7,854,000 after buying an additional 930,532 shares during the period. Finally, Vanguard Group Inc. lifted its stake in McEwen Mining by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,406,958 shares of the basic materials company’s stock valued at $5,393,000 after acquiring an additional 86,204 shares in the last quarter. 17.03% of the stock is currently owned by institutional investors.

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.