McEwen Mining Inc. (NYSE:MUX) Receives $14.33 Average Target Price from Analysts

McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) has received an average rating of “Buy” from the five ratings firms that are covering the company, MarketBeat Ratings 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 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.33.

Several research firms recently issued reports on MUX. Roth Mkm reduced their price objective on shares of McEwen Mining from $13.00 to $12.50 and set a “buy” rating for the company in a research note on Friday, March 21st. Roth Capital set a $15.00 price objective on McEwen Mining and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen cut McEwen Mining from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. HC Wainwright dropped their price target on shares of McEwen Mining from $18.00 to $15.50 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, National Bankshares reiterated an “outperform” rating on shares of McEwen Mining in a research note on Tuesday, June 24th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC bought a new stake in shares of McEwen Mining in the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC increased its stake in McEwen Mining by 357.9% in the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company’s stock valued at $57,000 after acquiring an additional 5,727 shares during the period. Total Wealth Planning & Management Inc. acquired a new position in McEwen Mining in the fourth quarter worth about $96,000. Private Advisor Group LLC lifted its stake in McEwen Mining by 18.8% during the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 2,000 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in McEwen Mining by 9,935.0% during the first quarter. SBI Securities Co. Ltd. now owns 14,350 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 14,207 shares in the last quarter. 17.03% of the stock is owned by institutional investors.

McEwen Mining Trading Up 3.3%

McEwen Mining stock opened at $11.36 on Tuesday. The firm has a market capitalization of $613.06 million, a price-to-earnings ratio of -19.92 and a beta of 0.98. McEwen Mining has a 52 week low of $6.38 and a 52 week high of $11.46. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.89 and a current ratio of 2.35. The company has a 50 day moving average price of $8.54 and a 200 day moving average price of $8.04.

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

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.