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

McEwen Inc. (NYSE:MUX) (TSE:MUX) has received a consensus rating of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $28.00.

MUX has been the subject of a number of recent analyst reports. Zacks Research cut shares of McEwen from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of McEwen in a report on Friday, August 28th. Roth Capital set a $31.00 target price on McEwen and gave the company a “buy” rating in a research report on Monday, August 10th. HC Wainwright reissued a “buy” rating and issued a $28.00 price target (down from $29.50) on shares of McEwen in a report on Friday, August 7th. Finally, Wall Street Zen lowered shares of McEwen from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th.

Insider Activity

In related news, Director Richard Brissenden sold 3,275 shares of the business’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 directly owned 18,022 shares in the company, valued at approximately $326,738.86. The trade was a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McEwen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in McEwen in the 2nd quarter worth approximately $703,000. California State Teachers Retirement System increased its position in McEwen by 1,734.4% during the second quarter. California State Teachers Retirement System now owns 1,116,391 shares of the basic materials company’s stock worth $20,240,000 after purchasing an additional 1,055,534 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in McEwen during the second quarter worth about $772,000. Hollencrest Capital Management grew its stake in shares of McEwen by 12.8% in the 2nd quarter. Hollencrest Capital Management now owns 38,622 shares of the basic materials company’s stock valued at $700,000 after buying an additional 4,379 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of McEwen during the 2nd quarter worth approximately $225,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Price Performance

Shares of MUX opened at $20.02 on Monday. The business’s 50-day moving average is $18.69 and its two-hundred day moving average is $21.05. The company has a market capitalization of $1.23 billion, a P/E ratio of 15.89 and a beta of 1.26. McEwen has a fifty-two week low of $13.05 and a fifty-two week high of $29.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 2.04.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data 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). McEwen had a return on equity of 13.48% and a net margin of 32.46%.The firm had revenue of $59.23 million for the quarter, compared to analyst estimates of $65.51 million. Research analysts predict that McEwen will post 0.8 earnings per share for the current 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.