Brokerages Set McEwen Inc. (NYSE:MUX) Price Target at $16.17

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $19.00.

MUX has been the subject of a number of analyst reports. HC Wainwright boosted their target price on McEwen from $17.00 to $21.50 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings reissued a “sell (d+)” rating on shares of McEwen in a research note on Wednesday, October 8th. Roth Capital set a $23.00 target price on McEwen in a research note on Thursday. Finally, National Bankshares reissued an “outperform” rating on shares of McEwen in a research note on Wednesday, July 16th.

Insider Transactions at McEwen

In related news, CEO Robert Ross Mcewen sold 50,000 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $14.35, for a total transaction of $717,500.00. Following the sale, the chief executive officer owned 450,000 shares in the company, valued at approximately $6,457,500. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ian J. Ball sold 2,656 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.49, for a total value of $27,861.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,192 shares of company stock valued at $1,110,702. 16.10% of the stock is currently owned by company insiders.

Institutional Trading of McEwen

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in McEwen by 19.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,418,023 shares of the basic materials company’s stock valued at $13,627,000 after buying an additional 233,266 shares during the period. Nomura Holdings Inc. bought a new stake in McEwen in the first quarter valued at approximately $6,925,000. Tidal Investments LLC raised its stake in McEwen by 4.0% in the second quarter. Tidal Investments LLC now owns 846,440 shares of the basic materials company’s stock valued at $8,134,000 after buying an additional 32,218 shares during the period. Alps Advisors Inc. grew its position in shares of McEwen by 41.9% in the first quarter. Alps Advisors Inc. now owns 729,515 shares of the basic materials company’s stock valued at $5,508,000 after purchasing an additional 215,396 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of McEwen by 4,309.4% in the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock valued at $4,823,000 after purchasing an additional 624,382 shares during the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Trading Up 7.3%

MUX stock opened at $20.32 on Thursday. The business has a fifty day moving average price of $13.58 and a 200 day moving average price of $10.52. McEwen has a fifty-two week low of $6.38 and a fifty-two week high of $20.57. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -81.26 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.82.

McEwen (NYSE:MUX) (TSE:MUX) last released its earnings results on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $46.70 million for the quarter, compared to the consensus estimate of $49.05 million. McEwen had a negative return on equity of 2.76% and a negative net margin of 8.05%. Analysts expect that McEwen will post -0.72 EPS for the current fiscal year.

McEwen Company Profile

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.