McEwen Inc. (NYSE:MUX) Given Average Rating of “Hold” by Analysts

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $28.00.

Several brokerages have recently issued reports on MUX. Wall Street Zen lowered McEwen from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research cut McEwen from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of McEwen in a research note on Friday, August 28th. Roth Capital set a $31.00 price objective on McEwen and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, HC Wainwright reissued a “buy” rating and set a $28.00 price objective (down from $29.50) on shares of McEwen in a research report on Friday, August 7th.

McEwen Trading Down 0.2%

Shares of MUX opened at $20.02 on Monday. McEwen has a 1-year low of $13.05 and a 1-year high of $29.70. The company has a current ratio of 2.04, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $18.69 and its 200-day moving average price is $21.01. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 15.89 and a beta of 1.26.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). The company had revenue of $59.23 million during the quarter, compared to analysts’ expectations of $65.51 million. McEwen had a return on equity of 13.48% and a net margin of 32.46%. Sell-side analysts anticipate that McEwen will post 0.8 EPS for the current year.

Insider Activity

In related news, Director Richard Brissenden sold 3,275 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $18.13, for a total value of $59,375.75. Following the completion of the transaction, the director directly owned 18,022 shares in the company, valued at $326,738.86. This trade represents a 15.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McEwen

A number of hedge funds and other institutional investors have recently bought and sold shares of MUX. Royal Bank of Canada lifted its holdings 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 purchasing an additional 624,382 shares during the last quarter. Goldman Sachs Group Inc. grew 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 buying an additional 19,548 shares during the last quarter. Empowered Funds LLC grew its stake in shares of McEwen by 105.4% in the 1st 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 last quarter. Geode Capital Management LLC grew its stake in shares of McEwen by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 509,426 shares of the basic materials company’s stock worth $4,897,000 after buying an additional 1,585 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in McEwen by 92.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 198,771 shares of the basic materials company’s stock valued at $1,910,000 after buying an additional 95,488 shares in the last quarter. Hedge funds and other institutional investors own 17.03% of the company’s stock.

About McEwen

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.