HC Wainwright Issues Pessimistic Forecast for McEwen Mining (NYSE:MUX) Stock Price

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX had its price target decreased by HC Wainwright from $19.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. HC Wainwright's price target indicates a potential upside of 113.65% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Roth Mkm cut their price objective on shares of McEwen Mining from $12.75 to $12.25 and set a "buy" rating for the company in a report on Thursday, November 7th. StockNews.com downgraded McEwen Mining from a "hold" rating to a "sell" rating in a research report on Saturday, November 30th.

McEwen Mining Stock Performance

McEwen Mining stock traded up $0.19 during midday trading on Thursday, hitting $8.43. The stock had a trading volume of 542,929 shares, compared to its average volume of 477,485. The firm's fifty day moving average is $8.27 and its two-hundred day moving average is $8.91. The company has a market capitalization of $445.85 million, a PE ratio of 3.85 and a beta of 1.42. McEwen Mining has a 52-week low of $5.92 and a 52-week high of $12.50. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The company had revenue of $52.25 million for the quarter, compared to analysts' expectations of $48.60 million. During the same period last year, the business earned ($0.39) earnings per share. On average, research analysts forecast that McEwen Mining will post -0.72 EPS for the current year.

Institutional Trading of McEwen Mining

Institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in McEwen Mining in the third quarter worth $51,000. Private Advisor Group LLC increased its stake in McEwen Mining by 18.8% in 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. PDT Partners LLC purchased a new stake in McEwen Mining in the third quarter worth $101,000. Virtu Financial LLC increased its stake in McEwen Mining by 32.3% in the third quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company's stock worth $154,000 after purchasing an additional 4,046 shares during the period. Finally, Quest Partners LLC purchased a new stake in McEwen Mining in the third quarter worth $166,000. 17.03% of the stock is currently owned by institutional investors.

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.