McEwen Mining (NYSE:MUX) Hits New 12-Month High at $10.87

McEwen Mining Inc (NYSE:MUXGet Free Report) (TSE:MUX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $10.87 and last traded at $10.74, with a volume of 108655 shares traded. The stock had previously closed at $10.80.

Analysts Set New Price Targets

A number of analysts have weighed in on MUX shares. TheStreet upgraded McEwen Mining from a “d” rating to a “c” rating in a research report on Friday, March 1st. HC Wainwright reduced their target price on shares of McEwen Mining from $18.50 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 4th.

View Our Latest Analysis on McEwen Mining

McEwen Mining Stock Performance

The stock has a 50-day moving average of $7.56 and a 200 day moving average of $7.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.76. The firm has a market capitalization of $537.41 million, a P/E ratio of 9.46 and a beta of 1.53.

McEwen Mining (NYSE:MUXGet Free Report) (TSE:MUX) last announced its earnings results on Thursday, February 29th. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of ($0.32) by $3.22. McEwen Mining had a return on equity of 19.20% and a net margin of 32.92%. The company had revenue of $58.68 million for the quarter, compared to analysts’ expectations of $53.00 million. On average, research analysts anticipate that McEwen Mining Inc will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On McEwen Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of McEwen Mining by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 609,984 shares of the basic materials company’s stock worth $4,398,000 after purchasing an additional 27,113 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in McEwen Mining by 167.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 47,672 shares of the basic materials company’s stock worth $344,000 after buying an additional 29,868 shares in the last quarter. Virtu Financial LLC bought a new position in McEwen Mining in the 4th quarter valued at $147,000. Occudo Quantitative Strategies LP acquired a new stake in shares of McEwen Mining in the 4th quarter valued at $540,000. Finally, Royal Bank of Canada raised its position in shares of McEwen Mining by 167.8% during the fourth quarter. Royal Bank of Canada now owns 56,457 shares of the basic materials company’s stock worth $407,000 after acquiring an additional 35,379 shares during the last quarter. Institutional investors and hedge funds own 17.03% of the company’s stock.

About McEwen Mining

(Get Free Report)

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.

See Also

Receive News & Ratings for McEwen Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McEwen Mining and related companies with MarketBeat.com's FREE daily email newsletter.