McEwen Inc. (NYSE:MUX) Given Average Recommendation of “Moderate Buy” by Brokerages

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $29.8333.

Several brokerages have weighed in on MUX. HC Wainwright upped their price target on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Roth Mkm upped their price target on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Wall Street Zen downgraded McEwen from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th.

McEwen Price Performance

MUX stock opened at $21.76 on Thursday. The business’s fifty day moving average price is $24.02 and its 200 day moving average price is $20.80. The company has a current ratio of 1.69, a quick ratio of 1.27 and a debt-to-equity ratio of 0.23. McEwen has a 12-month low of $6.38 and a 12-month high of $29.70. The company has a market capitalization of $1.29 billion, a PE ratio of 36.88 and a beta of 1.28.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.41. McEwen had a return on equity of 6.89% and a net margin of 17.43%.The company had revenue of $64.60 million for the quarter, compared to the consensus estimate of $72.83 million. On average, sell-side analysts anticipate that McEwen will post -0.72 EPS for the current year.

Institutional Investors Weigh In On McEwen

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in McEwen by 231.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock worth $11,270,000 after purchasing an additional 460,308 shares during the period. North of South Capital LLP acquired a new position in shares of McEwen during the 3rd quarter worth about $855,000. Quantbot Technologies LP boosted its position in shares of McEwen by 62.7% during the 3rd quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company’s stock worth $2,254,000 after acquiring an additional 50,778 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of McEwen during the 4th quarter worth about $13,547,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of McEwen during the 3rd quarter worth about $598,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Company Profile

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.