McEwen (NYSE:MUX) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of McEwen (NYSE:MUX) (TSE:MUX) from a hold rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

Several other equities analysts have also weighed in on MUX. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of McEwen in a research report on Friday, August 28th. Roth Capital set a $31.00 target price on shares of McEwen and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, HC Wainwright reissued a “buy” rating and set a $28.00 target price (down from $29.50) on shares of McEwen in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, McEwen has an average rating of “Moderate Buy” and an average target price of $28.00.

McEwen Stock Up 1.1%

MUX stock opened at $17.93 on Friday. The stock has a market cap of $1.10 billion, a P/E ratio of 14.23 and a beta of 1.26. The company has a current ratio of 2.04, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $19.14 and its two-hundred day simple moving average is $20.04. McEwen has a 1-year low of $14.93 and a 1-year high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last announced its earnings results on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $59.23 million for the quarter, compared to analysts’ expectations of $65.51 million. McEwen had a net margin of 32.46% and a return on equity of 13.48%. Analysts expect that McEwen will post 0.83 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. KBC Group NV bought a new stake in McEwen during the 1st quarter valued at $27,000. Leonteq Securities AG bought a new position in shares of McEwen in the first quarter worth $31,000. Versant Capital Management Inc purchased a new position in shares of McEwen in the third quarter valued at $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of McEwen in the fourth quarter valued at $93,000. Finally, Entropy Technologies LP purchased a new position in shares of McEwen in the first quarter valued at $206,000. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

About McEwen

McEwen Inc (NYSE: MUX), formerly known as McEwen Mining Inc, is a precious and base metals mining company focused on the exploration, development and production of gold, silver and copper. The company operates and develops mining projects in Canada, the United States and Argentina.

McEwen’s principal gold assets include the Fox Complex in Ontario, Canada, and the Gold Bar mine in Nevada. The Fox Complex is an underground mining operation in the Timmins region, while Gold Bar is an open-pit, heap-leach operation in central Nevada.