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

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX had its target price lowered by equities researchers at Roth Mkm from $13.00 to $12.50 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. Roth Mkm's target price points to a potential upside of 57.63% from the company's current price.

A number of other analysts have also recently issued reports on MUX. StockNews.com cut McEwen Mining from a "hold" rating to a "sell" rating in a 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 research note on Wednesday, March 19th.

McEwen Mining Trading Up 2.1 %

Shares of MUX stock traded up $0.16 during trading hours on Friday, hitting $7.93. 743,342 shares of the company were exchanged, compared to its average volume of 730,270. The firm has a fifty day moving average of $7.73 and a 200 day moving average of $8.53. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. McEwen Mining has a 1 year low of $6.46 and a 1 year high of $12.50. The firm has a market cap of $427.70 million, a PE ratio of 3.62 and a beta of 1.39.

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McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last posted 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). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $33.52 million for the quarter, compared to analysts' expectations of $32.20 million. Analysts expect that McEwen Mining will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On McEwen Mining

Large investors have recently modified their holdings of the stock. New Age Alpha Advisors LLC purchased a new position in McEwen Mining in the 4th quarter worth approximately $38,000. Quarry LP acquired a new position in shares of McEwen Mining during the third quarter worth $51,000. Aquatic Capital Management LLC boosted its stake in shares of 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 purchasing an additional 5,727 shares during the period. PDT Partners LLC acquired a new stake in McEwen Mining during the 3rd quarter valued at $101,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in McEwen Mining during the 4th quarter valued at $96,000. Institutional investors and hedge funds own 17.03% of the company's stock.

About McEwen Mining

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.