McEwen Inc. (NYSE:MUX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $29.8333.

MUX has been the subject of a number of analyst reports. Roth Mkm boosted their price objective on shares of McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Wall Street Zen downgraded shares of McEwen from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. HC Wainwright boosted their target price on shares of McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings downgraded shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd.

McEwen Stock Performance

NYSE:MUX opened at $19.06 on Tuesday. The firm has a 50 day simple moving average of $22.02 and a 200-day simple moving average of $22.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81. The firm has a market cap of $1.14 billion, a PE ratio of 16.15 and a beta of 1.18. McEwen has a 1-year low of $8.95 and a 1-year high of $29.70.

Institutional Investors Weigh In On McEwen

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in McEwen by 24.4% in the fourth quarter. State Street Corp now owns 2,190,605 shares of the basic materials company’s stock valued at $40,548,000 after purchasing an additional 429,761 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of McEwen by 38.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock worth $33,515,000 after purchasing an additional 541,890 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of McEwen by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company’s stock worth $21,982,000 after purchasing an additional 15,439 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of McEwen by 56.3% during the fourth quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company’s stock worth $18,540,000 after purchasing an additional 360,857 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in McEwen by 3.1% in the third quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company’s stock valued at $15,122,000 after acquiring an additional 26,846 shares in the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

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.