Richard Brissenden Sells 11,203 Shares of McEwen (NYSE:MUX) Stock

McEwen Inc. (NYSE:MUX) (TSE:MUX) Director Richard Brissenden sold 11,203 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $14.89, for a total transaction of $166,812.67. Following the transaction, the director owned 9,405 shares in the company, valued at $140,040.45. The trade was a 54.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

McEwen Stock Performance

Shares of NYSE:MUX opened at $14.71 on Friday. The company has a market capitalization of $796.17 million, a price-to-earnings ratio of -58.86 and a beta of 0.96. McEwen Inc. has a 12 month low of $6.38 and a 12 month high of $15.50. The firm’s 50-day moving average is $11.93 and its 200 day moving average is $9.66. The company has a current ratio of 2.35, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $46.70 million for the quarter, compared to the consensus estimate of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. Research analysts predict that McEwen Inc. will post -0.72 EPS for the current year.

Hedge Funds Weigh In On McEwen

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of McEwen by 19.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,418,023 shares of the basic materials company’s stock valued at $13,627,000 after purchasing an additional 233,266 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of McEwen during the first quarter valued at approximately $6,925,000. Tidal Investments LLC boosted its stake in shares of McEwen by 4.0% during the second quarter. Tidal Investments LLC now owns 846,440 shares of the basic materials company’s stock valued at $8,134,000 after purchasing an additional 32,218 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of McEwen by 41.9% during the first quarter. Alps Advisors Inc. now owns 729,515 shares of the basic materials company’s stock valued at $5,508,000 after purchasing an additional 215,396 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of McEwen by 4,309.4% during the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock valued at $4,823,000 after purchasing an additional 624,382 shares in the last quarter. 17.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MUX shares. HC Wainwright upped their target price on shares of McEwen from $15.50 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Roth Capital set a $15.00 target price on shares of McEwen and gave the stock a “buy” rating in a research note on Tuesday, July 1st. Finally, National Bankshares restated an “outperform” rating on shares of McEwen in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat, McEwen has a consensus rating of “Buy” and a consensus target price of $14.83.

About McEwen

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.