McEwen Mining Inc (MUX) Stock Rating Reaffirmed by HC Wainwright

McEwen Mining Inc (NYSE:MUX) (TSE:MUX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Wednesday. They presently have a $5.00 price objective on the basic materials company’s stock. HC Wainwright’s target price points to a potential upside of 138.10% from the company’s current price.

MUX has been the subject of several other research reports. BidaskClub raised McEwen Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research raised McEwen Mining from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. TheStreet raised McEwen Mining from a “d+” rating to a “c” rating in a research note on Friday, June 16th. Finally, ValuEngine downgraded McEwen Mining from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $5.00.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Karp Capital Management Corp purchased a new position in shares of McEwen Mining in the first quarter worth about $110,000. D L Carlson Investment Group Inc. increased its holdings in shares of McEwen Mining by 107.8% in the second quarter. D L Carlson Investment Group Inc. now owns 38,588 shares of the basic materials company’s stock worth $101,000 after buying an additional 20,018 shares during the period. Profund Advisors LLC increased its holdings in shares of McEwen Mining by 0.9% in the second quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock worth $103,000 after buying an additional 366 shares during the period. Level Four Advisory Services LLC increased its holdings in shares of McEwen Mining by 0.3% in the first quarter. Level Four Advisory Services LLC now owns 39,260 shares of the basic materials company’s stock worth $126,000 after buying an additional 100 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of McEwen Mining in the first quarter worth about $125,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

About McEwen Mining

McEwen Mining Inc is a mining and minerals production and exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. The Company’s segments include Mexico, Minera Santa Cruz SA (MSC), Nevada and Los Azules. The Mexico Operations segment includes properties, such as El Gallo 1 mine and the El Gallo 2 project.

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