McEwen Mining's (MUX) Buy Rating Reaffirmed at HC Wainwright

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX's stock had its "buy" rating restated by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $18.00 price objective on the basic materials company's stock. HC Wainwright's target price would suggest a potential upside of 135.14% from the company's current price. HC Wainwright also issued estimates for McEwen Mining's FY2025 earnings at ($0.42) EPS.

Separately, StockNews.com lowered McEwen Mining from a "hold" rating to a "sell" rating in a research report on Wednesday, February 19th.

McEwen Mining Stock Down 8.2 %

NYSE MUX traded down $0.69 on Wednesday, reaching $7.66. The company had a trading volume of 1,905,436 shares, compared to its average volume of 731,004. The firm has a market capitalization of $412.87 million, a PE 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 firm has a 50-day moving average of $7.75 and a 200-day moving average of $8.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74.

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McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last released its quarterly 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 company had revenue of $33.52 million during the quarter, compared to analysts' expectations of $32.20 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. On average, equities research analysts anticipate that McEwen Mining will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On McEwen Mining

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC raised its position in shares of McEwen Mining by 556.7% during the 4th quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company's stock valued at $7,810,000 after acquiring an additional 850,971 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of McEwen Mining by 369.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company's stock valued at $4,331,000 after acquiring an additional 438,088 shares in the last quarter. Geode Capital Management LLC raised its position in shares of McEwen Mining by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 484,792 shares of the basic materials company's stock valued at $3,774,000 after acquiring an additional 13,673 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of McEwen Mining by 1.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company's stock valued at $3,103,000 after acquiring an additional 5,800 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new stake in McEwen Mining in the fourth quarter worth $2,557,000. 17.03% of the stock is owned by institutional investors and hedge funds.

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.