McEwen Mining (NYSE:MUX) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX's share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.29 and traded as high as $8.42. McEwen Mining shares last traded at $8.10, with a volume of 596,947 shares.

Analyst Upgrades and Downgrades

MUX has been the topic of several recent research reports. StockNews.com downgraded 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 set a $18.00 target price on shares of McEwen Mining in a research note on Wednesday, March 19th. Finally, Roth Mkm dropped their price target on shares of McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a research report on Friday, March 21st.

McEwen Mining Price Performance

The stock has a market cap of $412.33 million, a PE ratio of 3.49 and a beta of 1.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The firm has a 50-day moving average of $7.49 and a 200-day moving average of $8.27.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last posted its earnings results on Friday, March 14th. The basic materials company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The firm had revenue of $33.52 million for the quarter, compared to the consensus estimate of $32.20 million. Research analysts predict that McEwen Mining Inc will post -0.72 EPS for the current year.

Institutional Investors Weigh In On McEwen Mining

Several hedge funds have recently made changes to their positions in MUX. Tidal Investments LLC raised its stake in McEwen Mining by 556.7% in the fourth quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company's stock worth $7,810,000 after buying an additional 850,971 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of McEwen Mining by 369.3% in 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 during the period. Geode Capital Management LLC raised its position in shares of McEwen Mining by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 484,792 shares of the basic materials company's stock worth $3,774,000 after acquiring an additional 13,673 shares in the last quarter. U S Global Investors Inc. lifted its stake in shares of McEwen Mining by 23.4% during the 1st quarter. U S Global Investors Inc. now owns 405,584 shares of the basic materials company's stock worth $3,062,000 after purchasing an additional 76,972 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in McEwen Mining by 1.5% during the fourth 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 purchasing an additional 5,800 shares in the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

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.