McEwen Mining (NYSE:MUX) Price Target Lowered to $12.50 at Roth Mkm

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price target cut by Roth Mkm from $13.00 to $12.50 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

MUX has been the subject of a number of other research reports. StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of McEwen Mining in a report on Wednesday, March 19th.

McEwen Mining Stock Performance

Shares of MUX stock opened at $7.66 on Friday. The company has a market capitalization of $412.87 million, a price-to-earnings ratio of 3.50 and a beta of 1.39. McEwen Mining has a 1-year low of $6.46 and a 1-year high of $12.50. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $7.75 and its 200-day simple moving average is $8.54.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $33.52 million during the quarter, compared to analyst estimates of $32.20 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. On average, sell-side analysts predict that McEwen Mining will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On McEwen Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its position in McEwen Mining by 556.7% in the fourth quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company’s stock worth $7,810,000 after acquiring an additional 850,971 shares in the last quarter. Dimensional Fund Advisors LP increased its position in McEwen Mining by 369.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company’s stock worth $4,331,000 after buying an additional 438,088 shares during the last quarter. U S Global Investors Inc. bought a new position in McEwen Mining during the fourth quarter valued at about $2,557,000. Bridgeway Capital Management LLC acquired a new stake in shares of McEwen Mining in the fourth quarter worth about $2,111,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of McEwen Mining by 66.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock worth $3,659,000 after acquiring an additional 157,300 shares in the last quarter. Institutional investors 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.