Analysts Set McEwen Inc. (NYSE:MUX) PT at $14.33

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have received an average recommendation of “Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $14.83.

MUX has been the subject of several research reports. HC Wainwright upped their target price on McEwen from $15.50 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday. Roth Capital set a $15.00 target price on McEwen and gave the stock a “buy” rating in a research note on Tuesday, July 1st. National Bankshares reaffirmed an “outperform” rating on shares of McEwen in a research note on Wednesday, July 16th. Wall Street Zen lowered McEwen from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, National Bank Financial raised McEwen to a “strong-buy” rating in a research note on Tuesday, April 29th.

McEwen Stock Down 5.0%

Shares of NYSE MUX opened at $10.16 on Friday. McEwen has a 12 month low of $6.38 and a 12 month high of $11.80. The company has a current ratio of 2.35, a quick ratio of 1.89 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $548.54 million, a price-to-earnings ratio of -17.82 and a beta of 0.98. The business has a 50-day moving average of $9.89 and a 200-day moving average of $8.43.

McEwen (NYSE:MUX) (TSE:MUX) last issued its earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. The business had revenue of $35.70 million during the quarter, compared to analyst estimates of $39.06 million. McEwen had a negative return on equity of 6.03% and a negative net margin of 17.51%. Sell-side analysts expect that McEwen will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of McEwen

A number of institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in shares of McEwen by 44.2% during the first quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock valued at $481,000 after purchasing an additional 19,548 shares during the period. Empowered Funds LLC raised its holdings in shares of McEwen by 105.4% during the first quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company’s stock valued at $1,571,000 after acquiring an additional 106,800 shares in the last quarter. Everstar Asset Management LLC bought a new position in shares of McEwen during the first quarter valued at approximately $128,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of McEwen by 10.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,184,757 shares of the basic materials company’s stock valued at $8,945,000 after acquiring an additional 109,770 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in shares of McEwen by 39.4% during the first quarter. Bridgeway Capital Management LLC now owns 378,100 shares of the basic materials company’s stock valued at $2,855,000 after acquiring an additional 106,800 shares in the last quarter. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen 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.