McEwen (NYSE:MUX) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of McEwen (NYSE:MUX) (TSE:MUX) from a buy rating to a hold rating in a research note published on Sunday.

MUX has been the topic of a number of other research reports. HC Wainwright raised their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Roth Mkm increased their price target on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.83.

McEwen Price Performance

NYSE:MUX opened at $19.22 on Friday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 32.57 and a beta of 1.11. The company has a current ratio of 1.69, a quick ratio of 1.27 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average is $24.54 and its two-hundred day moving average is $20.49. McEwen has a 12-month low of $6.38 and a 12-month high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.41. The business had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. McEwen had a net margin of 17.43% and a return on equity of 6.89%. Research analysts expect that McEwen will post -0.72 EPS for the current year.

Institutional Investors Weigh In On McEwen

Several institutional investors and hedge funds have recently added to or reduced their stakes in MUX. Amundi acquired a new position in shares of McEwen in the 4th quarter valued at about $14,240,000. Synergy Asset Management LLC acquired a new stake in McEwen during the 4th quarter worth approximately $13,547,000. Royal Bank of Canada increased its position in McEwen by 4,309.4% during the 1st quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock worth $4,823,000 after purchasing an additional 624,382 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in McEwen by 38.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock valued at $33,515,000 after buying an additional 541,890 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in McEwen by 228.6% during the fourth quarter. Voloridge Investment Management LLC now owns 701,344 shares of the basic materials company’s stock valued at $12,982,000 after buying an additional 487,924 shares in the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.