McEwen Mining (NYSE:MUX) Price Target Lowered to $18.00 at HC Wainwright

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price target trimmed by HC Wainwright from $19.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

MUX has been the subject of a number of other research reports. Roth Mkm dropped their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday, November 7th. StockNews.com cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th.

McEwen Mining Price Performance

NYSE:MUX opened at $8.23 on Thursday. The business’s 50-day simple moving average is $8.27 and its two-hundred day simple moving average is $8.92. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50. The stock has a market cap of $435.43 million, a PE ratio of 3.76 and a beta of 1.42. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The business had revenue of $52.25 million for the quarter, compared to the consensus estimate of $48.60 million. During the same period last year, the business posted ($0.39) EPS. As a group, analysts forecast that McEwen Mining will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MUX. Quarry LP purchased a new stake in McEwen Mining during the third quarter valued at $51,000. Private Advisor Group LLC bought a new stake in shares of McEwen Mining in the 3rd quarter worth about $99,000. PDT Partners LLC purchased a new stake in shares of McEwen Mining during the 3rd quarter valued at about $101,000. Virtu Financial LLC lifted its holdings in shares of McEwen Mining by 32.3% in the 3rd quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock valued at $154,000 after acquiring an additional 4,046 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in McEwen Mining in the third quarter worth about $166,000. 17.03% of the stock is owned by hedge funds and other institutional investors.

About McEwen Mining

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.