McEwen Mining Inc (NYSE:MUX – Get Free Report) (TSE:MUX) shot up 6.1% during trading on Thursday . The company traded as high as $11.79 and last traded at $11.59. 1,048,373 shares traded hands during mid-day trading, an increase of 51% from the average session volume of 694,668 shares. The stock had previously closed at $10.92.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on MUX shares. TheStreet raised McEwen Mining from a “d” rating to a “c” rating in a research note on Friday, March 1st. HC Wainwright decreased their target price on shares of McEwen Mining from $18.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 4th.
Check Out Our Latest Research Report on McEwen Mining
McEwen Mining Trading Up 2.6 %
McEwen Mining (NYSE:MUX – Get Free Report) (TSE:MUX) last announced its quarterly earnings data on Thursday, February 29th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $3.22. McEwen Mining had a return on equity of 19.20% and a net margin of 32.92%. The company had revenue of $58.68 million for the quarter, compared to the consensus estimate of $53.00 million. Equities analysts anticipate that McEwen Mining Inc will post -0.3 earnings per share for the current year.
Hedge Funds Weigh In On McEwen Mining
Several institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new stake in shares of McEwen Mining in the 3rd quarter valued at $72,000. Rathbones Group PLC bought a new stake in McEwen Mining in the third quarter valued at $74,000. Private Advisor Group LLC bought a new stake in McEwen Mining in the third quarter valued at $75,000. Fifth Third Bancorp acquired a new position in shares of McEwen Mining during the fourth quarter valued at about $98,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of McEwen Mining during the 4th quarter worth about $107,000. 17.03% of the stock is owned by institutional investors and hedge funds.
McEwen Mining Company Profile
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.
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