McEwen Mining (NYSE:MUX) Hits New 52-Week High at $12.27

McEwen Mining Inc (NYSE:MUX) (TSE:MUX)’s share price hit 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.

Wall Street Analyst Weigh In

A number of brokerages have commented on MUX. TheStreet upgraded McEwen Mining from a “d” rating to a “c” rating in a research report on Friday, March 1st. HC Wainwright reduced their price objective on McEwen Mining from $18.50 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 4th.

McEwen Mining Stock Performance

The firm has a fifty day moving average of $9.20 and a 200-day moving average of $7.85. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 0.08. The firm has a market cap of $606.13 million, a P/E ratio of 10.75 and a beta of 1.53.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Thursday, February 29th. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $3.22. The business had revenue of $58.68 million during the quarter, compared to analysts’ expectations of $53.00 million. McEwen Mining had a return on equity of 19.20% and a net margin of 32.92%. Research analysts predict that McEwen Mining Inc will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of McEwen Mining

A number of large investors have recently made changes to their positions in MUX. Quadrature Capital Ltd acquired a new stake in McEwen Mining in the 3rd quarter valued at approximately $72,000. Rathbones Group PLC acquired a new stake in shares of McEwen Mining in the third quarter valued at approximately $74,000. Private Advisor Group LLC bought a new stake in shares of McEwen Mining during the 3rd quarter valued at $75,000. Fifth Third Bancorp bought a new stake in McEwen Mining during the fourth quarter worth about $98,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in McEwen Mining in the fourth quarter valued at approximately $107,000. Institutional investors own 17.03% 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.