McEwen Mining (NYSE:MUX) Lifted to “Hold” at StockNews.com

McEwen Mining (NYSE:MUX) (TSE:MUX) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Other equities research analysts have also recently issued reports about the company. TheStreet raised McEwen Mining from a “d” rating to a “c” rating in a report on Friday, March 1st. HC Wainwright raised their price target on McEwen Mining from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Roth Mkm reissued a “buy” rating and set a $12.00 price target (up from $11.00) on shares of McEwen Mining in a report on Friday, May 10th.

McEwen Mining Stock Performance

McEwen Mining stock traded down $0.12 during trading on Thursday, reaching $9.14. The company had a trading volume of 362,424 shares, compared to its average volume of 749,138. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50. The firm’s 50-day simple moving average is $10.95 and its 200 day simple moving average is $8.94. The firm has a market capitalization of $451.36 million, a price-to-earnings ratio of 5.57 and a beta of 1.51. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its earnings results on Wednesday, May 8th. The basic materials company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.38). McEwen Mining had a return on equity of 16.46% and a net margin of 44.83%. The company had revenue of $41.23 million during the quarter, compared to the consensus estimate of $39.80 million. Sell-side analysts forecast that McEwen Mining will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at McEwen Mining

In other McEwen Mining news, CFO Perry Ing sold 23,332 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $9.76, for a total transaction of $227,720.32. Following the sale, the chief financial officer now directly owns 15,551 shares of the company’s stock, valued at $151,777.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Carmen L. Diges sold 17,066 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $9.44, for a total transaction of $161,103.04. Following the completion of the transaction, the general counsel now owns 10,982 shares in the company, valued at $103,670.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Perry Ing sold 23,332 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $9.76, for a total value of $227,720.32. Following the transaction, the chief financial officer now owns 15,551 shares of the company’s stock, valued at approximately $151,777.76. The disclosure for this sale can be found here. Insiders have sold a total of 42,901 shares of company stock valued at $413,353 over the last ninety days. 17.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank grew its position in McEwen Mining by 25.2% in the third quarter. Toronto Dominion Bank now owns 25,032 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 5,032 shares in the last quarter. Vanguard Group Inc. grew its position in McEwen Mining by 1.0% in the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after acquiring an additional 6,082 shares in the last quarter. Quadrature Capital Ltd purchased a new position in McEwen Mining in the third quarter worth about $72,000. Paloma Partners Management Co purchased a new position in McEwen Mining in the first quarter worth about $117,000. Finally, Fifth Third Bancorp purchased a new position in McEwen Mining in the fourth quarter worth about $98,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

About McEwen Mining

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.