McEwen (NYSE:MUX) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of McEwen (NYSE:MUX) (TSE:MUX) from a hold rating to a strong sell rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other research firms also recently issued reports on MUX. Roth Mkm lifted their price objective on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 11th. Wall Street Zen cut McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, HC Wainwright increased their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.83.

McEwen Trading Up 3.3%

Shares of McEwen stock traded up $0.80 during trading hours on Wednesday, hitting $25.53. The company’s stock had a trading volume of 91,405 shares, compared to its average volume of 1,227,990. The company has a quick ratio of 1.27, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.52 billion, a PE ratio of 43.25 and a beta of 1.28. The business has a fifty day moving average of $23.61 and a 200 day moving average of $21.18. McEwen has a 1-year low of $6.88 and a 1-year high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.25 by $0.41. The company had revenue of $64.60 million for the quarter, compared to analyst estimates of $72.83 million. McEwen had a return on equity of 6.89% and a net margin of 17.43%. As a group, equities analysts forecast that McEwen will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in McEwen by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company’s stock worth $9,673,000 after purchasing an additional 1,461 shares during the period. CoreCap Advisors LLC bought a new stake in shares of McEwen during the 3rd quarter worth about $27,000. Parkside Financial Bank & Trust acquired a new stake in shares of McEwen in the 4th quarter worth approximately $37,000. Banque Cantonale Vaudoise bought a new position in shares of McEwen in the fourth quarter valued at approximately $40,000. Finally, Sprott Inc. boosted its holdings in shares of McEwen by 22.2% in the fourth quarter. Sprott Inc. now owns 12,309 shares of the basic materials company’s stock valued at $228,000 after acquiring an additional 2,233 shares in the last quarter. 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.