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

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX had its price target decreased by equities research analysts at Roth Mkm from $13.00 to $12.50 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. Roth Mkm's price target indicates a potential upside of 62.76% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of McEwen Mining from a "hold" rating to a "sell" rating in a research note on Wednesday, February 19th. HC Wainwright restated a "buy" rating and issued a $18.00 price target on shares of McEwen Mining in a research report on Wednesday, March 19th.

McEwen Mining Price Performance

Shares of MUX stock traded up $0.03 during mid-day trading on Friday, reaching $7.68. The company's stock had a trading volume of 503,983 shares, compared to its average volume of 730,124. McEwen Mining has a 1-year low of $6.46 and a 1-year high of $12.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. The company has a market cap of $414.22 million, a P/E ratio of 3.51 and a beta of 1.39. The firm's 50-day moving average is $7.75 and its two-hundred day moving average is $8.54.

Remove Ads

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share (EPS) 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 analyst estimates of $32.20 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. On average, research analysts predict that McEwen Mining will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On McEwen Mining

Institutional investors have recently bought and sold shares of the business. New Age Alpha Advisors LLC acquired a new stake in shares of McEwen Mining in the fourth quarter valued at $38,000. Quarry LP bought a new stake in McEwen Mining during the 3rd quarter worth about $51,000. Aquatic Capital Management LLC increased its position in McEwen Mining by 357.9% in the 4th 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 in the last quarter. PDT Partners LLC bought a new position in shares of McEwen Mining in the third quarter worth about $101,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of McEwen Mining during the fourth quarter worth approximately $96,000. Institutional investors 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.