McEwen Inc. (NYSE:MUX) Given Average Rating of “Moderate Buy” by Analysts

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.50.

Several equities analysts recently issued reports on MUX shares. HC Wainwright raised their price objective on McEwen from $17.00 to $21.50 and gave the stock a “buy” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of McEwen in a report on Monday. Canaccord Genuity Group set a $25.00 price target on shares of McEwen and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Roth Capital set a $23.00 price objective on shares of McEwen in a research report on Thursday, October 9th.

McEwen Stock Performance

Shares of MUX stock opened at $17.96 on Friday. The stock has a market capitalization of $978.41 million, a price-to-earnings ratio of -71.84 and a beta of 0.97. McEwen has a one year low of $6.38 and a one year high of $24.88. The company’s 50-day simple moving average is $17.89 and its 200-day simple moving average is $12.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 2.35.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.32). McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. The firm had revenue of $50.53 million during the quarter, compared to the consensus estimate of $60.00 million. Equities analysts anticipate that McEwen will post -0.72 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Stephan Michael Spears sold 12,600 shares of McEwen stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $14.35, for a total transaction of $180,810.00. Following the sale, the vice president owned 3,814 shares of the company’s stock, valued at approximately $54,730.90. The trade was a 76.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jeffrey Chan sold 13,333 shares of McEwen stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $14.89, for a total value of $198,528.37. Following the sale, the vice president directly owned 2,267 shares in the company, valued at $33,755.63. The trade was a 85.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 87,136 shares of company stock valued at $1,263,651. 16.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On McEwen

Several large investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new position in shares of McEwen during the second quarter valued at $947,000. Catalyst Funds Management Pty Ltd bought a new position in shares of McEwen in the second quarter worth about $338,000. Goldman Sachs Group Inc. lifted its position in shares of McEwen by 44.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock worth $481,000 after purchasing an additional 19,548 shares during the last quarter. Private Advisor Group LLC boosted its stake in McEwen by 16.6% during the 1st quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 2,098 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in McEwen by 39.4% in the 1st quarter. Bridgeway Capital Management LLC now owns 378,100 shares of the basic materials company’s stock valued at $2,855,000 after buying an additional 106,800 shares during the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Company Profile

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.