McEwen (NYSE:MUX) Upgraded at Zacks Research

McEwen (NYSE:MUX) (TSE:MUX) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on MUX. Wall Street Zen upgraded McEwen from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 11th. Roth Mkm boosted their target price on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Finally, HC Wainwright boosted their target price on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.83.

McEwen Trading Up 4.1%

MUX stock opened at $26.10 on Monday. The company has a market cap of $1.56 billion, a P/E ratio of 22.12 and a beta of 1.19. McEwen has a twelve month low of $6.88 and a twelve month high of $29.70. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $22.81 and a 200-day moving average of $21.72.

McEwen (NYSE:MUX) (TSE:MUX) last released its earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.41. The company had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. McEwen had a return on equity of 13.65% and a net margin of 31.40%. As a group, equities research analysts expect that McEwen will post 1.06 EPS for the current year.

Hedge Funds Weigh In On McEwen

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of McEwen by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 10,780 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 589 shares in the last quarter. Kercheville Advisors LLC lifted its holdings in shares of McEwen by 10.0% during the 1st quarter. Kercheville Advisors LLC now owns 11,000 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 1,000 shares in the last quarter. KBC Group NV bought a new position in shares of McEwen during the 1st quarter valued at about $27,000. Geode Capital Management LLC boosted its position in shares of McEwen by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company’s stock worth $9,673,000 after buying an additional 1,461 shares during the period. Finally, Leonteq Securities AG acquired a new position in shares of McEwen during the first quarter worth about $31,000. 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.