McEwen (NYSE:MUX) Stock Rating Lowered by Zacks Research

McEwen (NYSE:MUX) (TSE:MUX) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Roth Mkm raised their price objective on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. HC Wainwright increased their target price on shares of McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings upgraded shares of McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 11th. Finally, Wall Street Zen downgraded shares of McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.83.

McEwen Price Performance

MUX stock opened at $24.72 on Wednesday. The company has a market capitalization of $1.47 billion, a P/E ratio of 41.89 and a beta of 1.28. The company has a fifty day moving average price of $23.61 and a 200-day moving average price of $21.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.27 and a current ratio of 1.69. McEwen has a 52-week low of $6.88 and a 52-week high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.41. The business had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. McEwen had a return on equity of 6.89% and a net margin of 17.43%. As a group, equities analysts expect that McEwen will post -0.72 EPS for the current year.

Institutional Investors Weigh In On McEwen

A number of large investors have recently bought and sold shares of MUX. CoreCap Advisors LLC bought a new stake in McEwen in the third quarter valued at $27,000. Parkside Financial Bank & Trust acquired a new position in shares of McEwen during the fourth quarter valued at about $37,000. Banque Cantonale Vaudoise acquired a new position in shares of McEwen during the fourth quarter valued at about $40,000. National Bank of Canada FI raised its holdings in shares of McEwen by 3,328.3% during the third quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 3,528 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of McEwen by 330.7% during the fourth quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 3,152 shares during the period. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.