McEwen Mining (NYSE:MUX) Price Target Raised to $15.00

McEwen Mining (NYSE:MUXGet Free Report) (TSE:MUX) had its target price upped by analysts at HC Wainwright from $13.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target points to a potential upside of 45.91% from the company’s current price. HC Wainwright also issued estimates for McEwen Mining’s FY2025 earnings at ($0.21) EPS.

Other analysts also recently issued research reports about the company. Roth Mkm reissued a “buy” rating and issued a $12.00 price target (up previously from $11.00) on shares of McEwen Mining in a report on Friday. TheStreet upgraded McEwen Mining from a “d” rating to a “c” rating in a research note on Friday, March 1st.

View Our Latest Stock Analysis on MUX

McEwen Mining Stock Down 0.4 %

Shares of NYSE:MUX opened at $10.28 on Monday. The company’s fifty day moving average is $10.27 and its two-hundred day moving average is $8.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.85 and a current ratio of 1.37. McEwen Mining has a 1-year low of $5.92 and a 1-year high of $12.50. The stock has a market capitalization of $508.24 million, a price-to-earnings ratio of 6.27 and a beta of 1.48.

McEwen Mining (NYSE:MUXGet Free Report) (TSE:MUX) last announced its quarterly earnings data on Thursday, February 29th. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $3.22. McEwen Mining had a net margin of 44.83% and a return on equity of 16.46%. The business had revenue of $58.68 million during the quarter, compared to the consensus estimate of $53.00 million. Equities analysts anticipate that McEwen Mining will post -0.3 EPS for the current year.

Hedge Funds Weigh In On McEwen Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in McEwen Mining by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 2,030,048 shares of the basic materials company’s stock worth $14,637,000 after acquiring an additional 56,698 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in McEwen Mining by 2.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,063,345 shares of the basic materials company’s stock worth $7,667,000 after purchasing an additional 22,231 shares during the period. Toronto Dominion Bank grew its position in McEwen Mining by 25.2% in the 3rd quarter. Toronto Dominion Bank now owns 25,032 shares of the basic materials company’s stock valued at $163,000 after buying an additional 5,032 shares in the last quarter. Quadrature Capital Ltd acquired a new position in McEwen Mining during the 3rd quarter valued at about $72,000. Finally, Fifth Third Bancorp bought a new stake in shares of McEwen Mining during the 4th quarter worth about $98,000. 17.03% of the stock is owned by institutional investors.

McEwen Mining Company Profile

(Get Free Report)

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.

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