McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX had its target price raised by analysts at HC Wainwright from $15.00 to $19.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the basic materials company's stock. HC Wainwright's price objective would indicate a potential upside of 107.42% from the company's previous close.
Separately, StockNews.com upgraded shares of McEwen Mining from a "sell" rating to a "hold" rating in a research note on Wednesday.
Check Out Our Latest Stock Analysis on MUX
McEwen Mining Price Performance
MUX traded up $0.07 on Thursday, hitting $9.16. 483,870 shares of the company's stock traded hands, compared to its average volume of 659,656. The company's 50 day simple moving average is $9.57 and its 200-day simple moving average is $9.96. McEwen Mining has a one year low of $5.92 and a one year high of $12.50. The firm has a market cap of $467.80 million, a price-to-earnings ratio of 5.01 and a beta of 1.43. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.07.
McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its earnings results 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 return on equity of 18.08% and a net margin of 46.32%. The firm had revenue of $52.25 million during the quarter, compared to analysts' expectations of $48.60 million. During the same quarter last year, the business earned ($0.39) EPS. As a group, research analysts anticipate that McEwen Mining will post -0.73 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Tidal Investments LLC bought a new stake in shares of McEwen Mining during the first quarter worth about $1,348,000. Susquehanna Fundamental Investments LLC bought a new stake in McEwen Mining in the first quarter worth $1,023,000. Van ECK Associates Corp raised its position in shares of McEwen Mining by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company's stock worth $19,448,000 after acquiring an additional 67,885 shares in the last quarter. Renaissance Technologies LLC boosted its stake in McEwen Mining by 41.3% in the 2nd quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company's stock worth $1,808,000 after purchasing an additional 57,600 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in McEwen Mining during the 1st quarter valued at about $529,000. 17.03% of the stock is owned by institutional investors.
About McEwen Mining
(
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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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