McEwen Inc. (NYSE:MUX) Given Average Rating of “Moderate Buy” by Brokerages

McEwen Inc. (NYSE:MUX) (TSE:MUX) has earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $20.50.

A number of equities analysts have recently weighed in on MUX shares. HC Wainwright upped their price target on shares of McEwen from $17.00 to $21.50 and gave the stock a “buy” rating in a research note on Friday, October 10th. Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a research report on Monday, December 22nd. Canaccord Genuity Group set a $25.00 target price on shares of McEwen and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Roth Capital reissued a “buy” rating and set a $23.00 price target (up previously from $21.00) on shares of McEwen in a research note on Wednesday, December 17th.

Institutional Investors Weigh In On McEwen

A number of institutional investors and hedge funds have recently bought and sold shares of MUX. Y Intercept Hong Kong Ltd purchased a new position in McEwen in the 2nd quarter valued at about $947,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of McEwen in the second quarter valued at approximately $338,000. Goldman Sachs Group Inc. lifted its stake in shares of McEwen by 44.2% during the first quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock valued at $481,000 after buying an additional 19,548 shares during the period. Entropy Technologies LP acquired a new stake in McEwen during the second quarter worth approximately $161,000. Finally, Bridgeway Capital Management LLC grew its stake in McEwen by 39.4% in the 1st quarter. Bridgeway Capital Management LLC now owns 378,100 shares of the basic materials company’s stock worth $2,855,000 after acquiring an additional 106,800 shares during the period. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Stock Down 5.9%

MUX opened at $18.91 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.10 and a quick ratio of 1.58. McEwen has a 12 month low of $6.38 and a 12 month high of $24.88. The stock has a market capitalization of $1.03 billion, a P/E ratio of -85.95 and a beta of 1.06. The business has a 50 day simple moving average of $18.38 and a 200-day simple moving average of $14.74.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). McEwen had a negative return on equity of 2.45% and a negative net margin of 7.16%.The business had revenue of $50.53 million for the quarter, compared to analyst estimates of $60.00 million. On average, equities analysts anticipate that McEwen will post -0.72 earnings per share for the current fiscal year.

McEwen Company Profile

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.