McEwen Inc. (NYSE:MUX) Receives $16.17 Consensus Target Price from Analysts

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $19.00.

A number of equities research analysts have commented on MUX shares. National Bankshares reiterated an “outperform” rating on shares of McEwen in a report on Wednesday, July 16th. HC Wainwright increased their target price on McEwen from $17.00 to $21.50 and gave the company a “buy” rating in a report on Friday. Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a report on Wednesday. Finally, Roth Capital set a $23.00 price objective on McEwen in a report on Thursday.

Insiders Place Their Bets

In other news, VP Jeffrey Chan sold 13,333 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $14.89, for a total transaction of $198,528.37. Following the sale, the vice president owned 2,267 shares in the company, valued at $33,755.63. This trade represents a 85.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ian J. Ball sold 2,656 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $10.49, for a total value of $27,861.44. The disclosure for this sale can be found here. Insiders have sold 77,192 shares of company stock worth $1,110,702 over the last ninety days. Company insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On McEwen

Several hedge funds have recently made changes to their positions in MUX. Tower Research Capital LLC TRC boosted its holdings in McEwen by 17,204.9% in the second quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 10,495 shares during the last quarter. Captrust Financial Advisors acquired a new position in McEwen in the second quarter valued at $549,000. Tidal Investments LLC boosted its holdings in McEwen by 4.0% in the second quarter. Tidal Investments LLC now owns 846,440 shares of the basic materials company’s stock valued at $8,134,000 after acquiring an additional 32,218 shares during the last quarter. HRT Financial LP acquired a new position in McEwen in the second quarter valued at $1,798,000. Finally, BNP Paribas Financial Markets boosted its holdings in McEwen by 160.6% in the second quarter. BNP Paribas Financial Markets now owns 206,674 shares of the basic materials company’s stock valued at $1,986,000 after acquiring an additional 127,380 shares during the last quarter. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Price Performance

Shares of NYSE:MUX opened at $18.97 on Thursday. The business’s fifty day moving average price is $13.38 and its two-hundred day moving average price is $10.42. The stock has a market cap of $1.03 billion, a PE ratio of -75.86 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 2.35. McEwen has a one year low of $6.38 and a one year high of $20.50.

McEwen (NYSE:MUX) (TSE:MUX) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $46.70 million for the quarter, compared to analyst estimates of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. On average, analysts forecast that McEwen will post -0.72 EPS for the current fiscal year.

McEwen 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.