Brokerages Set McEwen Inc. (NYSE:MUX) PT at $29.83

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have been assigned an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $29.8333.

A number of analysts have recently commented on the company. Roth Mkm upped their price target on McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. HC Wainwright upped their price target on McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Wall Street Zen cut McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Weiss Ratings raised McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 11th.

Institutional Trading of McEwen

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in McEwen by 4,309.4% during the 1st quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock worth $4,823,000 after purchasing an additional 624,382 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in McEwen by 44.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock worth $481,000 after purchasing an additional 19,548 shares in the last quarter. Empowered Funds LLC increased its stake in McEwen by 105.4% during the 1st quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company’s stock worth $1,571,000 after purchasing an additional 106,800 shares in the last quarter. Geode Capital Management LLC increased its stake in McEwen by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 509,426 shares of the basic materials company’s stock worth $4,897,000 after purchasing an additional 1,585 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in McEwen by 92.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 198,771 shares of the basic materials company’s stock worth $1,910,000 after purchasing an additional 95,488 shares in the last quarter. 17.03% of the stock is owned by institutional investors.

McEwen Stock Performance

Shares of MUX stock opened at $21.63 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.27. The stock has a market cap of $1.29 billion, a PE ratio of 36.66 and a beta of 1.28. The stock has a 50-day moving average of $23.74 and a 200-day moving average of $20.85. McEwen has a one year low of $6.75 and a one year high of $29.70.

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

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.