McEwen Mining (NYSE:MUX) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.93 and traded as high as $9.72. McEwen Mining shares last traded at $9.61, with a volume of 794,411 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MUX shares. Roth Mkm cut their price objective on McEwen Mining from $13.00 to $12.50 and set a “buy” rating on the stock in a report on Friday, March 21st. HC Wainwright decreased their target price on shares of McEwen Mining from $18.00 to $15.50 and set a “buy” rating on the stock in a research note on Friday, May 9th. National Bank Financial upgraded McEwen Mining to a “strong-buy” rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen lowered shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

McEwen Mining Stock Up 2.4%

The business’s fifty day moving average is $8.04 and its two-hundred day moving average is $7.93. The stock has a market cap of $519.04 million, a price-to-earnings ratio of 4.39 and a beta of 0.95. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. The business had revenue of $35.70 million during the quarter, compared to the consensus estimate of $39.06 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. Equities analysts forecast that McEwen Mining Inc will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. New Age Alpha Advisors LLC purchased a new stake in McEwen Mining in the fourth quarter valued at approximately $38,000. Aquatic Capital Management LLC grew its position in McEwen Mining by 357.9% during the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company’s stock worth $57,000 after buying an additional 5,727 shares during the period. Total Wealth Planning & Management Inc. purchased a new stake in shares of McEwen Mining during the 4th quarter worth approximately $96,000. Private Advisor Group LLC grew its holdings in shares of McEwen Mining by 18.8% in the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock worth $98,000 after acquiring an additional 2,000 shares during the period. Finally, Sprott Inc. acquired a new stake in shares of McEwen Mining in the 4th quarter worth approximately $100,000. 17.03% of the stock is owned by institutional investors and hedge funds.

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.