McEwen Inc. (NYSE:MUX) Receives $25.50 Consensus PT from Brokerages

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $25.50.

A number of equities research analysts have commented on the stock. Roth Mkm restated a “buy” rating and set a $30.00 target price (up previously from $23.00) on shares of McEwen in a research note on Friday, January 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 29th.

Hedge Funds Weigh In On McEwen

Several large investors have recently made changes to their positions in MUX. Synergy Asset Management LLC purchased a new position in McEwen during the 4th quarter valued at approximately $13,547,000. Royal Bank of Canada grew its holdings in shares of McEwen by 4,309.4% in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in McEwen by 38.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock worth $33,515,000 after purchasing an additional 541,890 shares during the last quarter. JPMorgan Chase & Co. increased its position in McEwen by 231.6% in the third quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock worth $11,270,000 after purchasing an additional 460,308 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in McEwen by 210.0% during the third quarter. BNP Paribas Financial Markets now owns 640,739 shares of the basic materials company’s stock valued at $10,957,000 after purchasing an additional 434,065 shares in the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

McEwen Price Performance

Shares of McEwen stock opened at $25.69 on Wednesday. The stock has a market cap of $1.40 billion, a P/E ratio of -116.76 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.58 and a current ratio of 2.10. The stock’s fifty day moving average is $22.18 and its 200 day moving average is $17.77. McEwen has a one year low of $6.38 and a one year high of $29.70.

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.