McEwen Inc. (NYSE:MUX) Given Average Rating of “Moderate Buy” by Analysts

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $29.8333.

A number of equities research analysts have weighed in on the stock. Roth Mkm upped their price objective on shares of McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Wall Street Zen cut shares of McEwen from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. HC Wainwright upped their price objective on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of McEwen from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th.

McEwen Price Performance

MUX stock opened at $22.04 on Friday. McEwen has a 1 year low of $7.75 and a 1 year high of $29.70. The company has a market cap of $1.32 billion, a P/E ratio of 18.68 and a beta of 1.19. The firm has a 50-day moving average of $22.26 and a 200 day moving average of $21.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81.

McEwen (NYSE:MUX) (TSE:MUX) last released its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.41. McEwen had a net margin of 31.40% and a return on equity of 13.65%. The company had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. On average, sell-side analysts forecast that McEwen will post 1.06 EPS for the current year.

Institutional Investors Weigh In On McEwen

A number of hedge funds and other institutional investors have recently bought and sold shares of MUX. Amundi purchased a new stake in McEwen in the fourth quarter worth about $14,240,000. Synergy Asset Management LLC purchased a new stake in McEwen in the fourth quarter worth about $13,547,000. Royal Bank of Canada grew its holdings in McEwen by 4,309.4% in the first 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $33,515,000 after purchasing an additional 541,890 shares during the period. Finally, Bank of America Corp DE grew its holdings in McEwen by 1,347.7% in the first quarter. Bank of America Corp DE now owns 534,824 shares of the basic materials company’s stock worth $10,921,000 after purchasing an additional 497,882 shares during the period. Hedge funds and other institutional investors 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.