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

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $29.8333.

Several brokerages recently commented on MUX. Weiss Ratings raised McEwen from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Roth Mkm lifted their price objective on McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Wall Street Zen cut McEwen from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, HC Wainwright lifted their price objective on McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a report on Wednesday, March 18th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV bought a new position in shares of McEwen during the first quarter valued at $27,000. Leonteq Securities AG bought a new stake in McEwen during the 1st quarter worth approximately $31,000. Parkside Financial Bank & Trust acquired a new stake in McEwen during the 4th quarter valued at $37,000. Banque Cantonale Vaudoise acquired a new stake in McEwen during the 4th quarter valued at $40,000. Finally, National Bank of Canada FI increased its holdings in McEwen by 3,328.3% during the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 3,528 shares in the last quarter. 17.03% of the stock is owned by institutional investors.

McEwen Stock Down 0.9%

Shares of MUX stock opened at $21.37 on Friday. The stock has a market cap of $1.28 billion, a P/E ratio of 18.11 and a beta of 1.19. McEwen has a one year low of $7.42 and a one year high of $29.70. The stock has a fifty day moving average price of $22.42 and a 200 day moving average price of $21.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81.

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

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.