Mawer Investment Management Ltd. Invests $4.63 Million in McEwen Inc. $MUX

Mawer Investment Management Ltd. acquired a new stake in McEwen Inc. (NYSE:MUX) (TSE:MUX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 249,981 shares of the basic materials company’s stock, valued at approximately $4,627,000.

A number of other institutional investors have also recently made changes to their positions in MUX. Banque Cantonale Vaudoise purchased a new position in McEwen in the fourth quarter worth about $40,000. National Bank of Canada FI lifted its holdings in shares of McEwen by 3,328.3% in the third quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock worth $62,000 after buying an additional 3,528 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of McEwen by 17,204.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 10,495 shares during the last quarter. XTX Topco Ltd bought a new position in McEwen during the second quarter valued at approximately $141,000. Finally, Kercheville Advisors LLC purchased a new position in shares of McEwen in the fourth quarter valued at $185,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Stock Performance

Shares of McEwen stock opened at $21.75 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.14. The company has a market capitalization of $1.30 billion, a PE ratio of 18.43 and a beta of 1.18. The company has a 50-day simple moving average of $22.28 and a two-hundred day simple moving average of $22.12. McEwen Inc. has a one year low of $8.25 and a one year high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last announced its earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, beating the consensus estimate 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. Research analysts expect that McEwen Inc. will post 1.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MUX. HC Wainwright lifted their price target on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings upgraded shares of McEwen from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Roth Mkm raised their price target on shares of McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Wall Street Zen lowered shares of McEwen from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, McEwen currently has an average rating of “Moderate Buy” and a consensus price target of $29.83.

McEwen 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.