731,860 Shares in McEwen Inc. $MUX Purchased by Synergy Asset Management LLC

Synergy Asset Management LLC bought a new position in McEwen Inc. (NYSE:MUX) (TSE:MUX) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 731,860 shares of the basic materials company’s stock, valued at approximately $13,547,000. McEwen comprises about 1.4% of Synergy Asset Management LLC’s holdings, making the stock its 19th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of MUX. North of South Capital LLP bought a new stake in shares of McEwen during the 3rd quarter valued at about $855,000. Quantbot Technologies LP increased its position in shares of McEwen by 62.7% in the third quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company’s stock worth $2,254,000 after purchasing an additional 50,778 shares during the last quarter. JPMorgan Chase & Co. raised its stake in McEwen by 231.6% in the third quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock valued at $11,270,000 after purchasing an additional 460,308 shares in the last quarter. Entropy Technologies LP purchased a new stake in McEwen in the second quarter valued at approximately $161,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in McEwen during the third quarter valued at approximately $598,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Stock Down 4.8%

Shares of MUX opened at $18.51 on Friday. McEwen Inc. has a 1 year low of $6.38 and a 1 year high of $29.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.27. The stock has a 50 day simple moving average of $24.61 and a two-hundred day simple moving average of $20.36. The firm has a market cap of $1.10 billion, a P/E ratio of 31.37 and a beta of 1.11.

McEwen (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.25 by $0.41. The firm had revenue of $64.60 million for the quarter, compared to the consensus estimate of $72.83 million. McEwen had a net margin of 17.43% and a return on equity of 6.89%. On average, analysts forecast that McEwen Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MUX has been the subject of a number of research reports. Wall Street Zen raised shares of McEwen from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Weiss Ratings raised shares of McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th. HC Wainwright upped their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Finally, Roth Mkm increased their target price on McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, McEwen currently has a consensus rating of “Moderate Buy” and an average target price of $29.83.

McEwen 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.