McEwen (NYSE:MUX) Stock Price Up 3.9% – Time to Buy?

McEwen Inc. (NYSE:MUX) (TSE:MUX) shares traded up 3.9% during trading on Wednesday . The company traded as high as $10.28 and last traded at $10.27. 220,603 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 859,244 shares. The stock had previously closed at $9.88.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. National Bankshares reiterated an “outperform” rating on shares of McEwen in a research note on Wednesday, July 16th. National Bank Financial upgraded McEwen to a “strong-buy” rating in a research note on Tuesday, April 29th. Roth Capital set a $15.00 price target on McEwen and gave the company a “buy” rating in a research note on Tuesday, July 1st. HC Wainwright increased their price target on McEwen from $15.50 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut McEwen from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $14.83.

McEwen Stock Performance

The firm has a market capitalization of $592.02 million, a P/E ratio of -43.76 and a beta of 0.88. The company has a current ratio of 2.35, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $10.46 and a 200-day moving average of $8.67.

McEwen (NYSE:MUX) (TSE:MUX) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $46.70 million for the quarter, compared to the consensus estimate of $49.05 million. McEwen had a negative return on equity of 2.76% and a negative net margin of 8.05%. On average, equities analysts anticipate that McEwen Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Transactions at McEwen

In other news, Director Ian J. Ball sold 2,656 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.49, for a total value of $27,861.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.10% of the stock is currently owned by corporate insiders.

Institutional Trading of McEwen

Several large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of McEwen by 17,204.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock valued at $101,000 after buying an additional 10,495 shares during the period. Captrust Financial Advisors acquired a new stake in shares of McEwen in the 2nd quarter valued at about $549,000. Tidal Investments LLC grew its stake in shares of McEwen by 4.0% in the 2nd quarter. Tidal Investments LLC now owns 846,440 shares of the basic materials company’s stock valued at $8,134,000 after buying an additional 32,218 shares during the period. HRT Financial LP acquired a new stake in shares of McEwen in the 2nd quarter valued at about $1,798,000. Finally, BNP Paribas Financial Markets boosted its stake in McEwen by 160.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 206,674 shares of the basic materials company’s stock valued at $1,986,000 after purchasing an additional 127,380 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.