McEwen (NYSE:MUX) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of McEwen (NYSE:MUX) (TSE:MUX) from a buy rating to a hold rating in a research report released on Sunday.

A number of other research firms also recently commented on MUX. HC Wainwright raised their price objective on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Zacks Research raised shares of McEwen from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Roth Mkm increased their target price on shares of McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings upgraded shares of McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 11th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.83.

McEwen Price Performance

NYSE:MUX opened at $22.78 on Friday. The company has a 50-day moving average of $22.69 and a 200-day moving average of $21.82. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 19.31 and a beta of 1.19. McEwen has a 52 week low of $7.02 and a 52 week high of $29.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.14.

McEwen (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.41. The company had revenue of $64.60 million during 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%. As a group, equities research analysts anticipate that McEwen will post 1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On McEwen

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in shares of McEwen by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 10,780 shares of the basic materials company’s stock worth $220,000 after buying an additional 589 shares during the period. Kercheville Advisors LLC grew its position in shares of McEwen by 10.0% during the 1st quarter. Kercheville Advisors LLC now owns 11,000 shares of the basic materials company’s stock worth $225,000 after buying an additional 1,000 shares during the period. KBC Group NV acquired a new position in McEwen during the first quarter valued at approximately $27,000. Geode Capital Management LLC grew its holdings in McEwen by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company’s stock valued at $9,673,000 after purchasing an additional 1,461 shares during the period. Finally, Leonteq Securities AG acquired a new position in McEwen during the first quarter valued at approximately $31,000. Institutional investors and hedge funds 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.