Universal Beteiligungs und Servicegesellschaft mbH Takes Position in McEwen Inc. $MUX

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 35,000 shares of the basic materials company’s stock, valued at approximately $598,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of McEwen at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. CoreCap Advisors LLC bought a new position in shares of McEwen during the 3rd quarter worth approximately $27,000. Tower Research Capital LLC TRC increased its stake in shares of McEwen by 17,204.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 10,495 shares in the last quarter. Pale Fire Capital SE acquired a new position in shares of McEwen during the 2nd quarter valued at $119,000. XTX Topco Ltd acquired a new position in shares of McEwen during the 2nd quarter valued at $141,000. Finally, PharVision Advisers LLC bought a new position in McEwen during the second quarter worth $154,000. 17.03% of the stock is currently owned by institutional investors.

McEwen Stock Performance

Shares of MUX opened at $23.37 on Tuesday. The firm has a market capitalization of $1.27 billion, a P/E ratio of -106.24 and a beta of 1.12. McEwen Inc. has a 52 week low of $6.38 and a 52 week high of $29.70. The stock has a 50 day moving average price of $20.87 and a two-hundred day moving average price of $16.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.58 and a current ratio of 2.10.

McEwen (NYSE:MUX) (TSE:MUX) last posted its earnings results on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). McEwen had a negative net margin of 7.16% and a negative return on equity of 2.45%. The company had revenue of $50.53 million during the quarter, compared to the consensus estimate of $60.00 million. Equities analysts forecast that McEwen Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. HC Wainwright lifted their price target on shares of McEwen from $17.00 to $21.50 and gave the company a “buy” rating in a research note on Friday, October 10th. Canaccord Genuity Group set a $25.00 price target on McEwen and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 29th. Finally, Roth Mkm restated a “buy” rating and set a $30.00 price objective (up previously from $23.00) on shares of McEwen in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

About McEwen

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.