StockNews.com Upgrades McEwen Mining (NYSE:MUX) to “Hold”

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

Other analysts have also recently issued reports about the company. HC Wainwright raised their target price on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Roth Mkm decreased their price target on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research note on Thursday, November 7th.

McEwen Mining Price Performance

Shares of NYSE MUX opened at $8.21 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The firm has a market capitalization of $434.47 million, a PE ratio of 3.75 and a beta of 1.43. McEwen Mining has a 1-year low of $5.92 and a 1-year high of $12.50. The business’s fifty day moving average price is $9.47 and its two-hundred day moving average price is $9.66.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share 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 firm had revenue of $52.25 million during the quarter, compared to analyst estimates of $48.60 million. During the same period last year, the business earned ($0.39) EPS. On average, research analysts expect that McEwen Mining will post -0.68 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Fifth Third Bancorp bought a new position in shares of McEwen Mining during the 2nd quarter valued at about $32,000. Quarry LP bought a new stake in McEwen Mining during the third quarter worth approximately $51,000. Banque Cantonale Vaudoise acquired a new position in McEwen Mining in the second quarter worth approximately $78,000. Private Advisor Group LLC bought a new position in shares of McEwen Mining in the third quarter valued at $99,000. Finally, Rathbones Group PLC acquired a new stake in shares of McEwen Mining during the 2nd quarter valued at $101,000. 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.