McEwen Inc. (NYSE:MUX) Given Consensus Rating of “Hold” by Analysts

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been given an average rating of “Hold” by the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $28.00.

MUX has been the topic of several analyst reports. Zacks Research downgraded McEwen from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. HC Wainwright restated a “buy” rating and issued a $28.00 price target (down from $29.50) on shares of McEwen in a report on Friday. Weiss Ratings lowered shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Roth Capital set a $31.00 price objective on shares of McEwen and gave the stock a “buy” rating in a report on Monday. Finally, Wall Street Zen downgraded McEwen from a “hold” rating to a “sell” rating in a research note on Saturday.

McEwen Price Performance

McEwen stock opened at $19.19 on Thursday. McEwen has a 52-week low of $9.82 and a 52-week high of $29.70. The firm has a fifty day moving average of $18.32 and a 200-day moving average of $21.80. The firm has a market capitalization of $1.18 billion, a P/E ratio of 15.23 and a beta of 1.23. The company has a quick ratio of 1.61, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

McEwen (NYSE:MUX) (TSE:MUX) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The business had revenue of $59.23 million during the quarter, compared to analysts’ expectations of $65.51 million. McEwen had a net margin of 32.46% and a return on equity of 13.48%. As a group, analysts predict that McEwen will post 0.99 EPS for the current year.

Insider Buying and Selling

In other McEwen news, Director Richard W. Brissenden sold 3,275 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $18.13, for a total transaction of $59,375.75. Following the completion of the sale, the director owned 18,022 shares in the company, valued at $326,738.86. This trade represents a 15.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On McEwen

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp increased its stake in shares of McEwen by 24.4% in the fourth quarter. State Street Corp now owns 2,190,605 shares of the basic materials company’s stock worth $40,548,000 after buying an additional 429,761 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in McEwen by 38.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock valued at $33,515,000 after acquiring an additional 541,890 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in McEwen by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company’s stock worth $21,982,000 after acquiring an additional 15,439 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in McEwen by 56.3% during the 4th quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company’s stock worth $18,540,000 after acquiring an additional 360,857 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of McEwen by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company’s stock worth $15,122,000 after purchasing an additional 26,846 shares during the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

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.