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

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been given an average recommendation of “Moderate Buy” by the five analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $29.8333.

Several research firms recently weighed in on MUX. Wall Street Zen lowered shares of McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings downgraded McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd.

McEwen Stock Performance

Shares of McEwen stock opened at $19.73 on Thursday. The business’s fifty day simple moving average is $18.49 and its 200 day simple moving average is $21.90. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. McEwen has a 12 month low of $9.82 and a 12 month high of $29.70. The firm has a market capitalization of $1.18 billion, a P/E ratio of 16.72 and a beta of 1.23.

McEwen (NYSE:MUX) (TSE:MUX) last announced its earnings results on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $59.23 million for the quarter, compared to analysts’ expectations of $65.51 million. McEwen had a net margin of 31.40% and a return on equity of 13.65%. As a group, analysts anticipate that McEwen will post 1.01 EPS for the current year.

Insider Buying and Selling

In other McEwen news, Director Richard W. Brissenden sold 3,275 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $18.13, for a total transaction of $59,375.75. Following the sale, the director directly owned 18,022 shares of the company’s stock, valued at $326,738.86. This represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 14.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McEwen

A number of hedge funds and other institutional investors have recently bought and sold shares of MUX. Synergy Asset Management LLC boosted its holdings in shares of McEwen by 31.6% in the second quarter. Synergy Asset Management LLC now owns 803,122 shares of the basic materials company’s stock worth $14,561,000 after acquiring an additional 193,005 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in shares of McEwen during the 2nd quarter valued at $218,000. Bank of America Corp DE raised its stake in shares of McEwen by 1,347.7% during the 1st quarter. Bank of America Corp DE now owns 534,824 shares of the basic materials company’s stock valued at $10,921,000 after purchasing an additional 497,882 shares during the period. California State Teachers Retirement System lifted its holdings in McEwen by 45.7% during the 1st quarter. California State Teachers Retirement System now owns 60,857 shares of the basic materials company’s stock worth $1,243,000 after purchasing an additional 19,077 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in McEwen by 6.1% in the 1st quarter. Empowered Funds LLC now owns 275,384 shares of the basic materials company’s stock worth $5,623,000 after purchasing an additional 15,886 shares during the period. Institutional investors own 17.03% of the company’s stock.

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.