Stephen Douglas Kaszas Purchases 1,000 Shares of McEwen (NYSE:MUX) Stock

McEwen Inc. (NYSE:MUX) (TSE:MUX) Director Stephen Douglas Kaszas bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $18.36 per share, for a total transaction of $18,360.00. Following the completion of the transaction, the director directly owned 1,621 shares in the company, valued at approximately $29,761.56. The trade was a 161.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

McEwen Trading Down 3.0%

NYSE MUX opened at $17.27 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81. The firm’s fifty day moving average price is $22.35 and its 200 day moving average price is $22.23. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 14.63 and a beta of 1.17. McEwen Inc. has a 12 month low of $8.95 and a 12 month high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last posted its earnings results on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.41. The firm had revenue of $64.60 million for the quarter, compared to the consensus estimate of $72.83 million. McEwen had a net margin of 31.40% and a return on equity of 13.65%. On average, sell-side analysts expect that McEwen Inc. will post 1.06 earnings per share for the current fiscal year.

Institutional Trading of McEwen

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of McEwen by 231.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock worth $11,270,000 after acquiring an additional 460,308 shares during the period. Quantbot Technologies LP lifted its stake in shares of McEwen by 62.7% in the 3rd quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company’s stock worth $2,254,000 after acquiring an additional 50,778 shares during the period. U S Global Investors Inc. acquired a new stake in shares of McEwen in the 4th quarter worth $1,857,000. Synergy Asset Management LLC acquired a new stake in shares of McEwen in the 4th quarter worth $13,547,000. Finally, Brookwood Investment Group LLC acquired a new stake in shares of McEwen in the 4th quarter worth $559,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Roth Mkm increased their price target 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. Wall Street Zen cut shares of McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. 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, HC Wainwright increased their price target 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. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.83.

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.