Stephen Douglas Kaszas Buys 1,000 Shares of McEwen (NYSE:MUX) Stock

McEwen Inc. (NYSE:MUX) (TSE:MUX) Director Stephen Douglas Kaszas purchased 1,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $18.36 per share, with a total value of $18,360.00. Following the completion of the acquisition, the director directly owned 1,621 shares of the company’s stock, valued at approximately $29,761.56. This trade represents a 161.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

McEwen Stock Performance

Shares of McEwen stock traded down $0.55 during trading hours on Tuesday, reaching $17.84. The company had a trading volume of 1,231,868 shares, compared to its average volume of 1,173,336. McEwen Inc. has a one year low of $8.95 and a one year high of $29.70. The business has a fifty day simple moving average of $22.41 and a 200 day simple moving average of $22.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81. The firm has a market cap of $1.07 billion, a PE ratio of 15.12 and a beta of 1.18.

McEwen (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.41. McEwen had a return on equity of 13.65% and a net margin of 31.40%.The firm had revenue of $64.60 million during the quarter, compared to analyst estimates of $72.83 million. On average, analysts anticipate that McEwen Inc. will post 1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on MUX. Roth Mkm lifted their price objective on McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen lowered McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings lowered McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, HC Wainwright lifted their price objective on McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.83.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. KBC Group NV purchased a new position in shares of McEwen in the first quarter worth about $27,000. Leonteq Securities AG purchased a new position in shares of McEwen in the first quarter worth about $31,000. Parkside Financial Bank & Trust purchased a new position in shares of McEwen in the fourth quarter worth about $37,000. Banque Cantonale Vaudoise purchased a new position in shares of McEwen in the fourth quarter worth about $40,000. Finally, National Bank of Canada FI increased its holdings in shares of McEwen by 3,328.3% in the third quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock worth $62,000 after buying an additional 3,528 shares during the period. Hedge funds and other institutional investors own 17.03% of the company’s stock.

About McEwen

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.