McEwen Mining (NYSE:MUX – Get Free Report) (TSE:MUX)‘s stock had its “buy” rating reiterated by investment analysts at Roth Mkm in a report issued on Friday, Benzinga reports. They currently have a $12.00 price target on the basic materials company’s stock, up from their prior price target of $11.00. Roth Mkm’s price target indicates a potential upside of 16.85% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. TheStreet raised shares of McEwen Mining from a “d” rating to a “c” rating in a research note on Friday, March 1st. HC Wainwright cut their price target on shares of McEwen Mining from $18.50 to $13.00 and set a “buy” rating on the stock in a report on Monday, March 4th.
Read Our Latest Stock Analysis on MUX
McEwen Mining Price Performance
McEwen Mining (NYSE:MUX – Get Free Report) (TSE:MUX) last announced its earnings results on Thursday, February 29th. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $3.22. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. The firm had revenue of $58.68 million during the quarter, compared to the consensus estimate of $53.00 million. On average, equities research analysts expect that McEwen Mining will post -0.3 earnings per share for the current fiscal year.
Institutional Trading of McEwen Mining
Hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in McEwen Mining in the third quarter worth $72,000. Rathbones Group PLC acquired a new position in McEwen Mining in the third quarter worth $74,000. Private Advisor Group LLC acquired a new position in McEwen Mining in the third quarter worth $75,000. Fifth Third Bancorp bought a new stake in McEwen Mining in the fourth quarter valued at $98,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in McEwen Mining in the fourth quarter valued at $107,000. Institutional investors and hedge funds own 17.03% of the company’s stock.
McEwen Mining Company Profile
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.
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