McEwen Mining (NYSE:MUX) Rating Increased to Hold at StockNews.com

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Other equities analysts have also recently issued reports about the company. Roth Mkm decreased their target price on McEwen Mining from $12.75 to $12.25 and set a "buy" rating on the stock in a report on Thursday, November 7th. HC Wainwright lifted their price target on McEwen Mining from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

McEwen Mining Price Performance

MUX stock traded down $0.13 during trading hours on Friday, hitting $8.39. 480,596 shares of the stock traded hands, compared to its average volume of 670,903. The stock has a 50-day simple moving average of $9.49 and a 200 day simple moving average of $9.71. The company has a market cap of $443.78 million, a P/E ratio of 3.83 and a beta of 1.43. McEwen Mining has a one year low of $5.92 and a one year 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 posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The business had revenue of $52.25 million for the quarter, compared to the consensus estimate of $48.60 million. During the same quarter last year, the business posted ($0.39) EPS. Equities analysts forecast that McEwen Mining will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On McEwen Mining

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC lifted its position in McEwen Mining by 32.3% in the 3rd quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company's stock worth $154,000 after buying an additional 4,046 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of McEwen Mining by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company's stock worth $4,383,000 after purchasing an additional 25,844 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of McEwen Mining during the 3rd quarter valued at about $176,000. Quarry LP acquired a new position in McEwen Mining in the third quarter worth approximately $51,000. Finally, Point72 Asset Management L.P. bought a new position in McEwen Mining during the third quarter valued at approximately $267,000. Institutional investors and hedge funds own 17.03% of the company's stock.

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.

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