HC Wainwright set a $5.00 price objective on McEwen Mining (NYSE:MUX) (TSE:MUX) in a research report report published on Wednesday, October 31st. The firm currently has a buy rating on the basic materials company’s stock.
Separately, Zacks Investment Research downgraded McEwen Mining from a hold rating to a strong sell rating in a research note on Saturday, August 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. McEwen Mining has an average rating of Hold and an average target price of $4.00.
Shares of MUX stock traded up $0.05 on Wednesday, reaching $1.83. The stock had a trading volume of 1,532,435 shares, compared to its average volume of 2,468,832. The company has a market cap of $600.35 million, a P/E ratio of -61.00 and a beta of -0.99. McEwen Mining has a 1 year low of $1.68 and a 1 year high of $2.55. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.95 and a quick ratio of 1.25.
McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings results on Wednesday, October 31st. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). The firm had revenue of $26.90 million during the quarter, compared to analysts’ expectations of $26.18 million. McEwen Mining had a negative return on equity of 3.84% and a negative net margin of 17.63%. As a group, analysts expect that McEwen Mining will post -0.1 earnings per share for the current year.
In related news, Director Richard W. Brissenden sold 25,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $1.80, for a total value of $45,000.00. Following the transaction, the director now directly owns 55,000 shares of the company’s stock, valued at approximately $99,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.10% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in McEwen Mining by 7.1% during the second quarter. Van ECK Associates Corp now owns 38,017,451 shares of the basic materials company’s stock valued at $78,696,000 after acquiring an additional 2,517,412 shares during the period. BlackRock Inc. raised its holdings in McEwen Mining by 5.3% during the third quarter. BlackRock Inc. now owns 9,956,020 shares of the basic materials company’s stock valued at $19,314,000 after acquiring an additional 501,118 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in McEwen Mining during the third quarter valued at about $8,223,000. Global X Management Co LLC raised its holdings in McEwen Mining by 6.4% during the second quarter. Global X Management Co LLC now owns 4,232,774 shares of the basic materials company’s stock valued at $8,762,000 after acquiring an additional 255,639 shares during the period. Finally, Morgan Stanley raised its holdings in McEwen Mining by 42.2% during the third quarter. Morgan Stanley now owns 3,408,912 shares of the basic materials company’s stock valued at $6,614,000 after acquiring an additional 1,011,428 shares during the period. 31.10% of the stock is currently owned by institutional investors and hedge funds.
McEwen Mining Company Profile
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. The company owns 100% interests in the El Gallo 1 mine and El Gallo 2 project in the state of Sinaloa, Mexico; and the Black Fox Complex, Buffalo Ankerite, Fuller, Davidson Tisdale, and Black Fox North properties in Canada.
See Also: Balance Sheet
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