McEwen (NYSE:MUX) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of McEwen (NYSE:MUX) (TSE:MUX) from a buy rating to a hold rating in a report published on Sunday morning.

Several other research analysts also recently weighed in on MUX. Roth Mkm upped their target price on shares of McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. HC Wainwright increased their target price on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings raised shares of McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, McEwen currently has an average rating of “Moderate Buy” and an average target price of $29.83.

McEwen Stock Up 8.4%

Shares of NYSE:MUX opened at $20.44 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.21 billion, a P/E ratio of 34.64 and a beta of 1.11. McEwen has a 52-week low of $6.38 and a 52-week high of $29.70. The stock’s fifty day simple moving average is $24.37 and its 200-day simple moving average is $20.58.

McEwen (NYSE:MUX) (TSE:MUX) last announced its earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.41. The firm had revenue of $64.60 million for the quarter, compared to analyst estimates of $72.83 million. McEwen had a net margin of 17.43% and a return on equity of 6.89%. As a group, equities research analysts forecast that McEwen will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On McEwen

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CoreCap Advisors LLC acquired a new position in shares of McEwen in the 3rd quarter worth approximately $27,000. Parkside Financial Bank & Trust bought a new position in shares of McEwen in the fourth quarter valued at $37,000. Banque Cantonale Vaudoise acquired a new stake in shares of McEwen during the 4th quarter valued at $40,000. National Bank of Canada FI grew its holdings in shares of McEwen by 3,328.3% in the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 3,528 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of McEwen by 330.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 3,152 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors.

About McEwen

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.