McEwen Mining Inc (NYSE:MUX – Get Free Report) (TSE:MUX) was up 6.1% during mid-day trading on Thursday . The company traded as high as $11.79 and last traded at $11.59. Approximately 1,048,373 shares traded hands during trading, an increase of 51% from the average daily volume of 694,668 shares. The stock had previously closed at $10.92.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on MUX shares. HC Wainwright lowered their price target on shares of McEwen Mining from $18.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 4th. TheStreet raised shares of McEwen Mining from a “d” rating to a “c” rating in a research report on Friday, March 1st.
Get Our Latest Analysis on McEwen Mining
McEwen Mining Price Performance
McEwen Mining (NYSE:MUX – Get Free Report) (TSE:MUX) last issued its earnings results on Thursday, February 29th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $3.22. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. The business had revenue of $58.68 million during the quarter, compared to analysts’ expectations of $53.00 million. On average, research analysts forecast that McEwen Mining Inc will post -0.3 earnings per share for the current fiscal year.
Institutional Investors Weigh In On McEwen Mining
A number of hedge funds have recently added to or reduced their stakes in the stock. Polunin Capital Partners Ltd purchased a new stake in McEwen Mining during the 1st quarter valued at $6,730,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in McEwen Mining during the 4th quarter valued at $107,000. Dynamic Technology Lab Private Ltd purchased a new stake in McEwen Mining during the 4th quarter valued at $377,000. Jump Financial LLC raised its stake in McEwen Mining by 154.0% during the 4th quarter. Jump Financial LLC now owns 74,263 shares of the basic materials company’s stock valued at $535,000 after buying an additional 45,020 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in McEwen Mining by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 2,030,048 shares of the basic materials company’s stock valued at $14,637,000 after buying an additional 56,698 shares during the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.
McEwen Mining Company Profile
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.
Recommended Stories
- Five stocks we like better than McEwen Mining
- What is Put Option Volume?
- MarketBeat Week in Review – 4/22 – 4/26
- What is the Dogs of the Dow Strategy? Overview and Examples
- 3 Stocks Leading the U.S. Agriculture Comeback
- How to Use the MarketBeat Excel Dividend Calculator
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for McEwen Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McEwen Mining and related companies with MarketBeat.com's FREE daily email newsletter.