Analysts Set McEwen Inc. (NYSE:MUX) PT at $20.50

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $20.50.

A number of equities analysts have issued reports on MUX shares. Roth Capital reaffirmed a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of McEwen in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 29th. HC Wainwright raised their target price on shares of McEwen from $17.00 to $21.50 and gave the stock a “buy” rating in a report on Friday, October 10th. Finally, Canaccord Genuity Group set a $25.00 price objective on shares of McEwen and gave the stock a “buy” rating in a research report on Wednesday, October 15th.

McEwen Stock Up 2.1%

MUX opened at $22.82 on Friday. The business’s fifty day moving average is $19.08 and its two-hundred day moving average is $15.89. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -103.73 and a beta of 1.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.58 and a current ratio of 2.10. McEwen has a one year low of $6.38 and a one year high of $24.88.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). McEwen had a negative net margin of 7.16% and a negative return on equity of 2.45%. The business had revenue of $50.53 million during the quarter, compared to analysts’ expectations of $60.00 million. Analysts anticipate that McEwen will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of McEwen by 38.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock valued at $33,515,000 after acquiring an additional 541,890 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in McEwen by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company’s stock worth $21,982,000 after buying an additional 15,439 shares during the period. Vanguard Group Inc. increased its stake in McEwen by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company’s stock valued at $15,122,000 after purchasing an additional 26,846 shares in the last quarter. Tidal Investments LLC boosted its stake in McEwen by 4.0% during the 2nd 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 during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in McEwen during the 4th quarter worth $13,547,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.