McEwen (NYSE:MUX) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

McEwen Inc. (NYSE:MUX) (TSE:MUX) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.11 and traded as high as $28.57. McEwen shares last traded at $28.4530, with a volume of 1,091,610 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Roth Mkm reissued a “buy” rating and issued a $30.00 target price (up from $23.00) on shares of McEwen in a research report on Friday, January 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of McEwen in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

McEwen Price Performance

The company has a current ratio of 2.10, a quick ratio of 1.58 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.41 billion, a PE ratio of -117.36 and a beta of 1.11. The business has a fifty day simple moving average of $24.05 and a two-hundred day simple moving average of $19.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of McEwen by 4,309.4% during the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock valued at $4,823,000 after buying an additional 624,382 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of McEwen by 44.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock worth $481,000 after purchasing an additional 19,548 shares in the last quarter. Empowered Funds LLC raised its stake in shares of McEwen by 105.4% in the first quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company’s stock worth $1,571,000 after buying an additional 106,800 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of McEwen in the second quarter worth approximately $947,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in McEwen during the second quarter valued at about $983,000. Institutional investors own 17.03% of the company’s stock.

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.