McEwen (NYSE:MUX) Price Target Raised to $35.00 at Roth Mkm

McEwen (NYSE:MUX) (TSE:MUX) had its price objective upped by investment analysts at Roth Mkm from $30.00 to $35.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Roth Mkm’s target price indicates a potential upside of 65.44% from the stock’s previous close.

MUX has been the topic of a number of other reports. Weiss Ratings raised McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th. HC Wainwright increased their price target on shares of McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.83.

McEwen Price Performance

MUX traded down $1.35 during trading on Wednesday, reaching $21.16. The stock had a trading volume of 914,375 shares, compared to its average volume of 1,281,986. The stock has a market cap of $1.15 billion, a PE ratio of 35.85 and a beta of 1.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.58 and a current ratio of 2.10. McEwen has a one year low of $6.38 and a one year high of $29.70. The business has a 50-day moving average of $24.90 and a 200-day moving average of $20.17.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.41. McEwen had a return on equity of 7.11% and a net margin of 17.43%.The firm had revenue of $64.60 million during the quarter, compared to analyst estimates of $72.83 million. As a group, equities research analysts anticipate that McEwen will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MUX. CoreCap Advisors LLC bought a new stake in shares of McEwen in the 3rd quarter valued at about $27,000. Parkside Financial Bank & Trust bought a new position in McEwen during the 4th quarter worth approximately $37,000. Banque Cantonale Vaudoise bought a new position in McEwen during the 4th quarter worth approximately $40,000. National Bank of Canada FI increased its stake in McEwen by 3,328.3% in the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 3,528 shares during the period. Finally, Wells Fargo & Company MN lifted its position in McEwen by 330.7% in the fourth quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 3,152 shares during the last quarter. Hedge funds and other 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.