McEwen Mining (NYSE:MUX) Raised to “Hold” at StockNews.com

McEwen Mining (NYSE:MUX) (TSE:MUX) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

McEwen Mining Stock Performance

Shares of MUX opened at $9.27 on Wednesday. The stock has a market capitalization of $473.42 million, a P/E ratio of 5.04 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.21 and a current ratio of 1.68. McEwen Mining has a 1 year low of $5.92 and a 1 year high of $12.50. The company’s fifty day moving average is $9.57 and its two-hundred day moving average is $9.95.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). The firm had revenue of $52.25 million during the quarter, compared to analysts’ expectations of $48.60 million. McEwen Mining had a net margin of 46.32% and a return on equity of 18.08%. During the same period in the previous year, the firm earned ($0.39) EPS. On average, sell-side analysts predict that McEwen Mining will post -0.73 earnings per share for the current year.

Institutional Trading of McEwen Mining

Several hedge funds have recently modified their holdings of the business. Fifth Third Bancorp purchased a new position in McEwen Mining in the second quarter worth $32,000. Banque Cantonale Vaudoise acquired a new position in shares of McEwen Mining during the 2nd quarter worth $78,000. Private Advisor Group LLC purchased a new position in shares of McEwen Mining in the 3rd quarter valued at about $99,000. Rathbones Group PLC acquired a new stake in shares of McEwen Mining in the second quarter valued at about $101,000. Finally, Paloma Partners Management Co acquired a new stake in shares of McEwen Mining in the first quarter valued at about $117,000. 17.03% of the stock is owned by institutional investors and hedge funds.

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.