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

McEwen Inc. (NYSE:MUX) (TSE:MUX) has received an average rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $25.50.

Several brokerages have issued reports on MUX. Roth Mkm reaffirmed a “buy” rating and issued a $30.00 price objective (up previously from $23.00) on shares of McEwen in a research report on Friday, January 30th. Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 29th.

McEwen Price Performance

Shares of NYSE MUX opened at $25.69 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.10 and a quick ratio of 1.58. McEwen has a 1-year low of $6.38 and a 1-year high of $29.70. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -116.76 and a beta of 1.12. The business has a 50-day moving average of $22.18 and a 200-day moving average of $17.87.

Institutional Investors Weigh In On McEwen

Hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust acquired a new position in shares of McEwen in the 4th quarter valued at approximately $37,000. Marshall Wace LLP acquired a new position in McEwen during the 4th quarter worth $1,459,000. Walleye Capital LLC acquired a new position in McEwen during the 4th quarter worth $315,000. Charles Schwab Investment Management Inc. increased its position in shares of McEwen by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,779 shares of the basic materials company’s stock worth $5,031,000 after purchasing an additional 8,010 shares during the last quarter. Finally, State Street Corp raised its stake in shares of McEwen by 24.4% in the 4th quarter. State Street Corp now owns 2,190,605 shares of the basic materials company’s stock valued at $40,548,000 after purchasing an additional 429,761 shares in the last quarter. Institutional investors and hedge funds 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.