Shares of McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX gapped up prior to trading on Monday . The stock had previously closed at $10.92, but opened at $11.25. McEwen Mining shares last traded at $11.18, with a volume of 127,847 shares traded.
Analyst Ratings Changes
Separately, StockNews.com lowered McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, July 11th.
Read Our Latest Analysis on McEwen Mining
McEwen Mining Stock Performance
The firm has a market capitalization of $555.13 million, a P/E ratio of 5.90 and a beta of 1.44. The company has a 50-day simple moving average of $9.34 and a two-hundred day simple moving average of $10.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.21 and a current ratio of 1.68.
McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.04). McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. The firm had revenue of $47.48 million during the quarter, compared to the consensus estimate of $43.90 million. During the same quarter last year, the company posted ($0.46) EPS. As a group, equities analysts forecast that McEwen Mining Inc will post -0.73 EPS for the current year.
Institutional Investors Weigh In On McEwen Mining
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new stake in shares of McEwen Mining in the 2nd quarter worth approximately $32,000. Banque Cantonale Vaudoise bought a new position in shares of McEwen Mining during the second quarter valued at $78,000. Rathbones Group PLC bought a new position in shares of McEwen Mining during the second quarter valued at $101,000. Paloma Partners Management Co purchased a new position in shares of McEwen Mining in the 1st quarter worth about $117,000. Finally, Marshall Wace LLP bought a new position in McEwen Mining in the 2nd quarter worth about $214,000. Hedge funds and other institutional investors own 17.03% of the company's stock.
McEwen Mining Company Profile
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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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