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

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $29.8333.

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

Institutional Trading of McEwen

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of McEwen by 5.8% during the 1st 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 during the last quarter. Kercheville Advisors LLC lifted its holdings in shares of McEwen by 10.0% during the first quarter. Kercheville Advisors LLC now owns 11,000 shares of the basic materials company’s stock worth $225,000 after buying an additional 1,000 shares in the last quarter. KBC Group NV acquired a new stake in shares of McEwen during the first quarter worth $27,000. Geode Capital Management LLC lifted its holdings in shares of McEwen by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company’s stock worth $9,673,000 after buying an additional 1,461 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of McEwen during the first quarter worth $31,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Trading Up 6.0%

NYSE MUX opened at $20.04 on Tuesday. McEwen has a 12 month low of $8.95 and a 12 month high of $29.70. The stock has a 50 day moving average of $22.24 and a 200-day moving average of $22.28. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.20 billion, a PE ratio of 16.99 and a beta of 1.18.

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.