McEwen Inc. (NYSE:MUX) Stock Has Consensus Target Price of $28.00

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.00.

A number of research analysts recently weighed in on MUX shares. Weiss Ratings reissued a “hold (c)” rating on shares of McEwen in a report on Friday, August 28th. Wall Street Zen raised McEwen from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Roth Capital set a $31.00 price objective on shares of McEwen and gave the stock a “buy” rating in a research report on Monday, August 10th. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective (down from $29.50) on shares of McEwen in a report on Friday, August 7th. Finally, Zacks Research raised shares of McEwen from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in McEwen by 26.5% during the second quarter. State Street Corp now owns 4,254,551 shares of the basic materials company’s stock worth $77,135,000 after acquiring an additional 891,024 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of McEwen by 15.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,269,760 shares of the basic materials company’s stock worth $25,920,000 after purchasing an additional 172,687 shares during the period. BNP Paribas Financial Markets increased its stake in shares of McEwen by 56.3% during the fourth quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company’s stock worth $18,540,000 after purchasing an additional 360,857 shares during the period. Synergy Asset Management LLC lifted its holdings in McEwen by 31.6% during the 2nd quarter. Synergy Asset Management LLC now owns 803,122 shares of the basic materials company’s stock worth $14,561,000 after purchasing an additional 193,005 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in McEwen by 1,347.7% during the 1st 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 last quarter. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Trading Down 1.1%

McEwen stock opened at $17.64 on Friday. McEwen has a 52 week low of $14.93 and a 52 week high of $29.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 2.04. The stock has a market capitalization of $1.08 billion, a P/E ratio of 14.00 and a beta of 1.26. The stock has a 50-day simple moving average of $19.12 and a 200 day simple moving average of $20.11.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). McEwen had a return on equity of 13.48% and a net margin of 32.46%.The business had revenue of $59.23 million for the quarter, compared to analyst estimates of $65.51 million. Analysts expect that McEwen will post 0.83 earnings per share for the current year.

McEwen Company Profile

McEwen Inc is a mining company focused on the exploration, development, and production of gold, silver, and copper. The company’s portfolio includes operating mines, advanced development projects, and exploration properties in the United States, Canada, and Argentina.

Its principal gold assets include the Fox Complex in Ontario, Canada, and the Gold Bar mine in Nevada. McEwen also has an interest in the San José mine in Argentina, which has historically produced gold and silver, and is advancing the Los Azules copper project in San Juan Province, Argentina, through its McEwen Copper subsidiary.

McEwen was founded by mining entrepreneur Rob McEwen, who serves as chairman.