McEwen Inc. (NYSE:MUX) Receives Consensus Rating of “Moderate Buy” from Analysts

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $20.50.

Several equities analysts recently issued reports on MUX shares. Roth Capital reiterated a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of McEwen in a research note on Wednesday, December 17th. HC Wainwright lifted their price objective on shares of McEwen from $17.00 to $21.50 and gave the company a “buy” rating in a report on Friday, October 10th. Canaccord Genuity Group set a $25.00 price objective on shares of McEwen and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a research report on Monday, December 22nd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MUX. CoreCap Advisors LLC purchased a new position in shares of McEwen during the 3rd quarter valued at approximately $27,000. National Bank of Canada FI raised its position in McEwen by 3,328.3% during the third 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 during the period. Tower Research Capital LLC TRC raised its position in McEwen by 17,204.9% during the second quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 10,495 shares during the period. Pale Fire Capital SE purchased a new position in McEwen during the second quarter valued at $119,000. Finally, Everstar Asset Management LLC acquired a new stake in shares of McEwen in the first quarter valued at about $128,000. 17.03% of the stock is owned by institutional investors and hedge funds.

McEwen Stock Up 2.5%

Shares of MUX opened at $20.16 on Tuesday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -91.62 and a beta of 1.06. McEwen has a 52 week low of $6.38 and a 52 week high of $24.88. The stock’s 50-day moving average price is $18.46 and its 200-day moving average price is $14.63. The company has a quick ratio of 1.58, a current ratio of 2.10 and a debt-to-equity ratio of 0.26.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). The company had revenue of $50.53 million during the quarter, compared to analyst estimates of $60.00 million. McEwen had a negative net margin of 7.16% and a negative return on equity of 2.45%. On average, sell-side analysts predict that McEwen will post -0.72 EPS 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.