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

McEwen Inc. (NYSE:MUX) (TSE:MUX) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $29.8333.

A number of research firms have recently weighed in on MUX. Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Wall Street Zen downgraded McEwen from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings downgraded McEwen from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. HC Wainwright upped their target price on McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Finally, Roth Mkm raised their price target on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th.

McEwen Stock Up 6.0%

MUX opened at $20.04 on Tuesday. McEwen has a fifty-two week low of $8.95 and a fifty-two week high of $29.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.14. The company has a market capitalization of $1.20 billion, a P/E ratio of 16.99 and a beta of 1.18. The stock has a fifty day moving average of $22.24 and a 200-day moving average of $22.28.

Institutional Investors Weigh In On McEwen

Large investors have recently bought and sold shares of the company. KBC Group NV acquired a new position in shares of McEwen in the 1st quarter valued at approximately $27,000. Leonteq Securities AG acquired a new stake in shares of McEwen during the 1st quarter worth approximately $31,000. Parkside Financial Bank & Trust acquired a new stake in shares of McEwen during the 4th quarter worth approximately $37,000. Banque Cantonale Vaudoise acquired a new stake in shares of McEwen during the 4th quarter worth approximately $40,000. Finally, National Bank of Canada FI boosted its position in shares of McEwen by 3,328.3% during 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 in the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.