McEwen Mining Inc (NYSE:MUX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of McEwen Mining Inc (NYSE:MUXGet Rating) (TSE:MUX) have received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $1.78.

A number of analysts have recently issued reports on MUX shares. StockNews.com started coverage on McEwen Mining in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Alliance Global Partners decreased their price target on McEwen Mining from $1.75 to $1.50 and set a “buy” rating on the stock in a research note on Thursday, March 10th. Finally, Zacks Investment Research lowered McEwen Mining from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 10th.

MUX opened at $0.75 on Monday. The stock has a market cap of $355.71 million, a PE ratio of -5.77 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13. McEwen Mining has a 1 year low of $0.73 and a 1 year high of $1.71. The stock’s 50 day simple moving average is $0.83 and its 200-day simple moving average is $0.93.

McEwen Mining (NYSE:MUXGet Rating) (TSE:MUX) last released its quarterly earnings data on Tuesday, March 1st. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $35.00 million for the quarter, compared to the consensus estimate of $34.90 million. McEwen Mining had a negative net margin of 41.63% and a negative return on equity of 14.37%. Equities analysts forecast that McEwen Mining will post -0.1 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MUX. Fort Sheridan Advisors LLC acquired a new stake in McEwen Mining in the 4th quarter valued at $27,000. Parallax Volatility Advisers L.P. acquired a new position in McEwen Mining in the fourth quarter worth $27,000. FirstPurpose Wealth LLC acquired a new position in McEwen Mining in the fourth quarter worth $34,000. Janus Henderson Group PLC acquired a new position in McEwen Mining in the third quarter worth $40,000. Finally, Squarepoint Ops LLC acquired a new position in McEwen Mining in the third quarter worth $48,000. 24.42% of the stock is currently owned by institutional investors and hedge funds.

McEwen Mining Company Profile (Get Rating)

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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