McEwen Inc. (NYSE:MUX) Short Interest Update

McEwen Inc. (NYSE:MUX) (TSE:MUX) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 10,633,915 shares, a growth of 19.9% from the December 31st total of 8,870,376 shares. Approximately 23.3% of the company’s stock are short sold. Based on an average daily volume of 1,269,805 shares, the short-interest ratio is currently 8.4 days. Based on an average daily volume of 1,269,805 shares, the short-interest ratio is currently 8.4 days. Approximately 23.3% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MUX shares. Canaccord Genuity Group set a $25.00 price objective on shares of McEwen and gave the company a “buy” rating in a research report on Wednesday, October 15th. Roth Mkm reaffirmed a “buy” rating and issued a $30.00 price target (up from $23.00) on shares of McEwen in a research note on Friday, January 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of McEwen in a research report on Monday, December 29th. Finally, 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, October 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, McEwen presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in McEwen during the 4th quarter worth $13,547,000. Royal Bank of Canada lifted its position in shares of McEwen by 4,309.4% during the 1st quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock worth $4,823,000 after purchasing an additional 624,382 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in McEwen by 38.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock valued at $33,515,000 after purchasing an additional 541,890 shares during the period. JPMorgan Chase & Co. grew its holdings in McEwen by 231.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock valued at $11,270,000 after buying an additional 460,308 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in McEwen by 210.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 640,739 shares of the basic materials company’s stock worth $10,957,000 after buying an additional 434,065 shares during the period. Institutional investors own 17.03% of the company’s stock.

McEwen Stock Down 0.0%

Shares of NYSE MUX traded down $0.01 during mid-day trading on Wednesday, reaching $25.63. 963,691 shares of the company traded hands, compared to its average volume of 1,560,927. The company’s fifty day moving average is $21.03 and its two-hundred day moving average is $17.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.58 and a current ratio of 2.10. McEwen has a fifty-two week low of $6.38 and a fifty-two week high of $29.70. The stock has a market cap of $1.40 billion, a PE ratio of -116.50 and a beta of 1.13.

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 the consensus estimate of $0.31 by ($0.32). McEwen had a negative return on equity of 2.45% and a negative net margin of 7.16%.The company had revenue of $50.53 million during the quarter, compared to analyst estimates of $60.00 million. On average, analysts expect that McEwen will post -0.72 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.