McEwen Mining (NYSE:MUX) Trading 4.3% Higher

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) was up 4.3% on Thursday . The company traded as high as $11.39 and last traded at $11.36. Approximately 136,383 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 683,735 shares. The stock had previously closed at $10.89.

Wall Street Analyst Weigh In

A number of analysts recently commented on MUX shares. TheStreet upgraded McEwen Mining from a “d” rating to a “c” rating in a report on Friday, March 1st. HC Wainwright dropped their price target on shares of McEwen Mining from $18.50 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 4th.

McEwen Mining Stock Performance

The stock has a market capitalization of $562.63 million, a PE ratio of 9.56 and a beta of 1.53. The business’s fifty day moving average price is $8.52 and its 200-day moving average price is $7.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.76 and a quick ratio of 1.09.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings results on Thursday, February 29th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $3.22. The business had revenue of $58.68 million during the quarter, compared to analyst estimates of $53.00 million. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. As a group, equities research analysts expect that McEwen Mining Inc will post -0.3 EPS for the current year.

Institutional Investors Weigh In On McEwen Mining

A number of large investors have recently modified their holdings of MUX. UBS Group AG lifted its holdings in McEwen Mining by 58.7% in the first quarter. UBS Group AG now owns 4,827 shares of the basic materials company’s stock worth $41,000 after buying an additional 1,785 shares during the period. Northern Trust Corp lifted its holdings in shares of McEwen Mining by 2.8% during the second quarter. Northern Trust Corp now owns 112,146 shares of the basic materials company’s stock valued at $806,000 after purchasing an additional 3,066 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in McEwen Mining by 5.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 59,342 shares of the basic materials company’s stock worth $386,000 after buying an additional 3,245 shares in the last quarter. Geode Capital Management LLC raised its stake in McEwen Mining by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 344,155 shares of the basic materials company’s stock valued at $2,016,000 after buying an additional 4,108 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in McEwen Mining by 25.2% in the third quarter. Toronto Dominion Bank now owns 25,032 shares of the basic materials company’s stock worth $163,000 after buying an additional 5,032 shares in the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Mining Company Profile

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.