Mawer Investment Management Ltd. Invests $4.63 Million in McEwen Inc. $MUX

Mawer Investment Management Ltd. acquired a new stake in McEwen Inc. (NYSE:MUX) (TSE:MUX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 249,981 shares of the basic materials company’s stock, valued at approximately $4,627,000. Mawer Investment Management Ltd. owned 0.46% of McEwen at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MUX. BNP Paribas Financial Markets lifted its position in shares of McEwen by 56.3% during the 4th quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company’s stock valued at $18,540,000 after buying an additional 360,857 shares during the last quarter. Geode Capital Management LLC boosted its stake in McEwen by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company’s stock valued at $9,673,000 after buying an additional 1,461 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of McEwen during the fourth quarter worth about $341,000. Banque Cantonale Vaudoise purchased a new position in McEwen in the 4th quarter worth approximately $40,000. Finally, Oppenheimer & Co. Inc. purchased a new position in McEwen in the fourth quarter worth $280,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MUX shares. Roth Mkm upped their target price on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Weiss Ratings raised McEwen from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Wall Street Zen downgraded McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, HC Wainwright raised their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, McEwen presently has an average rating of “Moderate Buy” and an average price target of $29.83.

McEwen Price Performance

MUX stock opened at $21.75 on Tuesday. The company has a market cap of $1.30 billion, a P/E ratio of 18.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81. The firm has a 50-day moving average of $22.28 and a 200 day moving average of $22.12. McEwen Inc. has a 1 year low of $8.25 and a 1 year high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.41. McEwen had a return on equity of 13.65% and a net margin of 31.40%.The company had revenue of $64.60 million for the quarter, compared to analysts’ expectations of $72.83 million. On average, sell-side analysts forecast that McEwen Inc. will post 1.06 EPS for the current year.

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.