McEwen Mining (NYSE:MUX) Price Target Increased to $20.50 by Analysts at HC Wainwright

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price target increased by HC Wainwright from $19.00 to $20.50 in a research report report published on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the basic materials company’s stock.

A number of other research firms also recently issued reports on MUX. Roth Mkm reiterated a buy rating and set a $12.00 price target on shares of McEwen Mining in a research note on Wednesday, August 16th. StockNews.com upgraded McEwen Mining to a sell rating in a research note on Monday.

McEwen Mining Stock Performance

Shares of MUX opened at $6.93 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.74 and a quick ratio of 2.29. The stock has a 50-day moving average of $7.15 and a 200-day moving average of $7.59. The company has a market cap of $328.97 million, a PE ratio of -2.92 and a beta of 1.31. McEwen Mining has a one year low of $3.23 and a one year high of $10.00.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings results on Thursday, August 10th. The basic materials company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.28. The business had revenue of $34.40 million during the quarter, compared to the consensus estimate of $40.00 million. McEwen Mining had a negative return on equity of 17.64% and a negative net margin of 91.26%. On average, equities research analysts predict that McEwen Mining will post -2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On McEwen Mining

Several hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of McEwen Mining by 2.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,041,114 shares of the basic materials company’s stock worth $6,767,000 after buying an additional 20,549 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of McEwen Mining by 5.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 59,342 shares of the basic materials company’s stock worth $386,000 after buying an additional 3,245 shares in the last quarter. GTS Securities LLC bought a new stake in shares of McEwen Mining in the 2nd quarter worth approximately $563,000. Royal Bank of Canada raised its holdings in shares of McEwen Mining by 27.9% in the 2nd quarter. Royal Bank of Canada now owns 25,642 shares of the basic materials company’s stock worth $184,000 after purchasing an additional 5,594 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of McEwen Mining by 968.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,950 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 5,393 shares during the period. Institutional investors own 19.63% of the company’s stock.

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.