McEwen Inc. (NYSE:MUX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $29.8333.

MUX has been the subject of a number of research analyst reports. HC Wainwright boosted their price target on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Wall Street Zen cut McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Roth Capital boosted their target price on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Zacks Research raised shares of McEwen from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings downgraded shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd.

Insider Activity at McEwen

In related news, Director Richard W. Brissenden sold 3,275 shares of McEwen stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $18.13, for a total transaction of $59,375.75. Following the sale, the director directly owned 18,022 shares in the company, valued at $326,738.86. This trade represents a 15.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On McEwen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in shares of McEwen by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 10,780 shares of the basic materials company’s stock worth $220,000 after buying an additional 589 shares in the last quarter. Kercheville Advisors LLC increased its stake in McEwen by 10.0% in the 1st quarter. Kercheville Advisors LLC now owns 11,000 shares of the basic materials company’s stock worth $225,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV bought a new stake in McEwen in the 1st quarter worth approximately $27,000. Geode Capital Management LLC raised its holdings in shares of McEwen by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company’s stock worth $9,673,000 after acquiring an additional 1,461 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of McEwen during the 1st quarter worth approximately $31,000. 17.03% of the stock is owned by institutional investors and hedge funds.

McEwen Stock Performance

NYSE:MUX traded down $0.17 during mid-day trading on Friday, reaching $17.88. 544,336 shares of the company’s stock were exchanged, compared to its average volume of 1,412,869. McEwen has a one year low of $9.82 and a one year high of $29.70. The firm has a market capitalization of $1.07 billion, a PE ratio of 15.16 and a beta of 1.21. The business’s fifty day simple moving average is $20.36 and its two-hundred day simple moving average is $22.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.14.

McEwen (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. McEwen had a return on equity of 13.65% and a net margin of 31.40%.The firm had revenue of $74.05 million for the quarter, compared to analyst estimates of $67.32 million. Analysts anticipate that McEwen will post 1.01 earnings per share for the current fiscal year.

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.