Analysts Set McEwen Inc. (NYSE:MUX) Price Target at $20.50

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued 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 $23.1667.

Several analysts have recently commented on MUX shares. Canaccord Genuity Group set a $25.00 price objective on McEwen and gave the stock a “buy” rating in a research note on Wednesday, October 15th. HC Wainwright upped their price target on McEwen from $17.00 to $21.50 and gave the stock a “buy” rating in a report on Friday, October 10th. Roth Mkm reissued a “buy” rating and issued a $23.00 price target (up from $21.00) on shares of McEwen in a research report on Wednesday, December 17th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 29th.

McEwen Stock Down 3.1%

Shares of NYSE MUX opened at $23.72 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.10 and a quick ratio of 1.58. The company has a 50-day moving average price of $19.35 and a 200-day moving average price of $16.04. The stock has a market capitalization of $1.29 billion, a P/E ratio of -107.82 and a beta of 1.08. McEwen has a 1 year low of $6.38 and a 1 year high of $25.19.

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

Institutional Investors Weigh In On McEwen

A number of institutional investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of McEwen during the 2nd quarter valued at $947,000. Catalyst Funds Management Pty Ltd purchased a new position in shares of McEwen in the 2nd quarter worth about $338,000. North of South Capital LLP bought a new position in McEwen during the third quarter valued at about $855,000. Goldman Sachs Group Inc. grew its position in McEwen by 44.2% during the first quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock valued at $481,000 after buying an additional 19,548 shares during the period. Finally, Entropy Technologies LP purchased a new stake in McEwen during the second quarter worth about $161,000. 17.03% of the stock is owned by institutional investors.

About McEwen

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.