McEwen Mining (NYSE:MUX) Trading Up 4.3%

McEwen Mining Inc (NYSE:MUX) (TSE:MUX)’s share price was up 4.3% on Thursday . The stock traded as high as $11.39 and last traded at $11.36. Approximately 136,383 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 683,735 shares. The stock had previously closed at $10.89.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MUX. TheStreet upgraded McEwen Mining from a “d” rating to a “c” rating in a research report on Friday, March 1st. HC Wainwright decreased their target price on McEwen Mining from $18.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 4th.

McEwen Mining Price Performance

The stock’s 50 day moving average is $8.69 and its two-hundred day moving average is $7.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.76. The stock has a market capitalization of $554.72 million, a PE ratio of 9.84 and a beta of 1.53.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Thursday, February 29th. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $3.22. McEwen Mining had a return on equity of 19.20% and a net margin of 32.92%. The business had revenue of $58.68 million for the quarter, compared to the consensus estimate of $53.00 million. On average, equities analysts anticipate that McEwen Mining Inc will post -0.3 EPS for the current fiscal year.

Institutional Trading of McEwen Mining

A number of hedge funds have recently bought and sold shares of MUX. Swiss National Bank boosted its position in shares of McEwen Mining by 7.3% during the 1st quarter. Swiss National Bank now owns 922,931 shares of the basic materials company’s stock valued at $777,000 after acquiring an additional 62,400 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of McEwen Mining by 5,296.2% during the 1st quarter. JPMorgan Chase & Co. now owns 101,233 shares of the basic materials company’s stock valued at $85,000 after buying an additional 99,357 shares during the period. Bank of Montreal Can lifted its holdings in McEwen Mining by 6.7% in the first quarter. Bank of Montreal Can now owns 501,778 shares of the basic materials company’s stock valued at $426,000 after acquiring an additional 31,493 shares during the last quarter. BlackRock Inc. grew its position in McEwen Mining by 11.1% in the first quarter. BlackRock Inc. now owns 9,331,628 shares of the basic materials company’s stock worth $7,854,000 after acquiring an additional 930,532 shares during the period. Finally, Vanguard Group Inc. increased its stake in McEwen Mining by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,406,958 shares of the basic materials company’s stock worth $5,393,000 after acquiring an additional 86,204 shares during the last quarter. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Mining Company Profile

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.