McEwen Inc. (NYSE:MUX) Given Consensus Rating of “Hold” by Brokerages

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have earned an average rating of “Hold” from the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $28.00.

A number of brokerages have recently commented on MUX. Weiss Ratings cut shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Roth Capital set a $31.00 target price on shares of McEwen and gave the company a “buy” rating in a research note on Monday, August 10th. Wall Street Zen downgraded shares of McEwen from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research lowered shares of McEwen from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective (down from $29.50) on shares of McEwen in a report on Friday, August 7th.

McEwen Stock Up 0.6%

Shares of MUX opened at $20.54 on Monday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 16.30 and a beta of 1.23. McEwen has a 52 week low of $10.96 and a 52 week high of $29.70. The stock’s 50-day moving average price is $18.48 and its 200-day moving average price is $21.22. The company has a quick ratio of 1.61, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). McEwen had a net margin of 32.46% and a return on equity of 13.48%. The company had revenue of $59.23 million for the quarter, compared to analysts’ expectations of $65.51 million. On average, sell-side analysts predict that McEwen will post 0.8 EPS for the current year.

Insider Buying and Selling

In other McEwen news, Director Richard W. Brissenden sold 3,275 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $18.13, for a total transaction of $59,375.75. Following the completion of the transaction, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.80% of the company’s stock.

Institutional Trading of McEwen

Several large investors have recently made changes to their positions in the company. KBC Group NV purchased a new position in McEwen in the 1st quarter valued at $27,000. Leonteq Securities AG purchased a new position in shares of McEwen in the first quarter worth about $31,000. Parkside Financial Bank & Trust purchased a new position in shares of McEwen in the fourth quarter worth about $37,000. Banque Cantonale Vaudoise purchased a new stake in McEwen during the 4th quarter valued at about $40,000. Finally, National Bank of Canada FI raised its holdings in McEwen by 3,328.3% in the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 3,528 shares during the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

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.