HC Wainwright Issues Optimistic Forecast for McEwen Earnings

McEwen Inc. (NYSE:MUX) (TSE:MUX) – Equities researchers at HC Wainwright lifted their FY2025 earnings per share (EPS) estimates for shares of McEwen in a research note issued on Thursday, August 7th. HC Wainwright analyst H. Ihle now anticipates that the basic materials company will post earnings per share of ($0.32) for the year, up from their previous forecast of ($0.45). HC Wainwright currently has a “Buy” rating and a $17.00 target price on the stock. The consensus estimate for McEwen’s current full-year earnings is ($0.72) per share.

Several other equities analysts have also recently issued reports on the company. National Bank Financial raised McEwen to a “strong-buy” rating in a report on Tuesday, April 29th. Roth Capital set a $15.00 price objective on McEwen and gave the stock a “buy” rating in a report on Tuesday, July 1st. Wall Street Zen cut McEwen from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, National Bankshares reaffirmed an “outperform” rating on shares of McEwen in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McEwen has an average rating of “Moderate Buy” and an average price target of $14.83.

McEwen Stock Performance

Shares of MUX stock opened at $10.43 on Monday. The stock has a fifty day moving average price of $10.27 and a 200 day moving average price of $8.55. The stock has a market cap of $564.58 million, a PE ratio of -41.74 and a beta of 0.88. McEwen has a 1 year low of $6.38 and a 1 year high of $11.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 2.35.

McEwen (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $46.70 million during the quarter, compared to analyst estimates of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%.

Hedge Funds Weigh In On McEwen

A number of institutional investors have recently made changes to their positions in MUX. Nomura Holdings Inc. acquired a new position in shares of McEwen in the first quarter worth $6,925,000. Tidal Investments LLC increased its stake in McEwen by 556.7% in the fourth quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company’s stock valued at $7,810,000 after purchasing an additional 850,971 shares during the last quarter. Royal Bank of Canada increased its stake in McEwen by 4,309.4% in the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock valued at $4,823,000 after purchasing an additional 624,382 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in McEwen by 369.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company’s stock valued at $4,331,000 after purchasing an additional 438,088 shares during the last quarter. Finally, Monashee Investment Management LLC acquired a new position in McEwen in the first quarter valued at $2,076,000. 17.03% of the stock is owned by institutional investors and hedge funds.

About McEwen

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.