McEwen Mining Inc (NYSE:MUX – Get Free Report) (TSE:MUX) reached a new 52-week high on Friday . The company traded as high as $12.27 and last traded at $12.04, with a volume of 205245 shares changing hands. The stock had previously closed at $11.94.
Analyst Ratings Changes
MUX has been the topic of several recent analyst reports. TheStreet upgraded shares of McEwen Mining from a “d” rating to a “c” rating in a report on Friday, March 1st. HC Wainwright reduced their target price on McEwen Mining from $18.50 to $13.00 and set a “buy” rating for the company in a report on Monday, March 4th.
View Our Latest Research Report on McEwen Mining
McEwen Mining Stock Up 4.5 %
McEwen Mining (NYSE:MUX – Get Free Report) (TSE:MUX) last announced its quarterly earnings data on Thursday, February 29th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $3.22. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. The firm had revenue of $58.68 million during the quarter, compared to analysts’ expectations of $53.00 million. As a group, analysts predict that McEwen Mining Inc will post -0.3 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in MUX. Quadrature Capital Ltd bought a new stake in McEwen Mining in the third quarter worth $72,000. Rathbones Group PLC purchased a new stake in shares of McEwen Mining during the 3rd quarter valued at about $74,000. Private Advisor Group LLC bought a new position in shares of McEwen Mining in the 3rd quarter valued at about $75,000. Fifth Third Bancorp purchased a new position in McEwen Mining in the fourth quarter worth about $98,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in McEwen Mining during the fourth quarter worth approximately $107,000. Institutional investors own 17.03% of the company’s stock.
About McEwen Mining
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.
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