McEwen Mining (NYSE:MUX) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a hold rating to a sell rating in a research note released on Thursday morning.

MUX has been the topic of a number of other research reports. Roth Mkm decreased their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright raised their price objective on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

McEwen Mining Price Performance

Shares of MUX stock opened at $8.42 on Thursday. The business has a fifty day simple moving average of $9.53 and a 200 day simple moving average of $9.80. The company has a market cap of $445.63 million, a P/E ratio of 3.84 and a beta of 1.43. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. McEwen Mining has a twelve month low of $5.92 and a twelve month high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $52.25 million during the quarter, compared to the consensus estimate of $48.60 million. During the same period last year, the company posted ($0.39) EPS. On average, sell-side analysts forecast that McEwen Mining will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On McEwen Mining

A number of institutional investors have recently made changes to their positions in MUX. Tidal Investments LLC acquired a new stake in McEwen Mining during the 1st quarter worth about $1,348,000. Renaissance Technologies LLC grew its stake in McEwen Mining by 41.3% during the second quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock worth $1,808,000 after purchasing an additional 57,600 shares during the period. Private Advisor Group LLC bought a new stake in McEwen Mining in the third quarter worth approximately $99,000. Van ECK Associates Corp lifted its stake in McEwen Mining by 3.3% in the second quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock valued at $19,448,000 after buying an additional 67,885 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of McEwen Mining by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after buying an additional 6,082 shares in the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Mining 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.