Ausbil Investment Management Ltd Buys Shares of 28,000 McEwen Inc. $MUX

Ausbil Investment Management Ltd bought a new stake in shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 28,000 shares of the basic materials company’s stock, valued at approximately $518,000. Ausbil Investment Management Ltd owned about 0.05% of McEwen as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MUX. CoreCap Advisors LLC purchased a new stake in shares of McEwen in the 3rd quarter worth approximately $27,000. National Bank of Canada FI raised its stake in McEwen by 3,328.3% during the third quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after buying an additional 3,528 shares during the last quarter. 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 worth $101,000 after acquiring an additional 10,495 shares in the last quarter. Pale Fire Capital SE bought a new stake in McEwen in the second quarter worth $119,000. Finally, XTX Topco Ltd purchased a new stake in shares of McEwen in the second quarter worth $141,000. 17.03% of the stock is owned by institutional investors.

McEwen Price Performance

Shares of NYSE:MUX opened at $18.51 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.27 and a current ratio of 1.69. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 31.37 and a beta of 1.11. The business has a 50-day simple moving average of $24.61 and a two-hundred day simple moving average of $20.36. McEwen Inc. has a fifty-two week low of $6.38 and a fifty-two week high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.41. McEwen had a net margin of 17.43% and a return on equity of 6.89%. The firm had revenue of $64.60 million for the quarter, compared to the consensus estimate of $72.83 million. On average, analysts expect that McEwen Inc. will post -0.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th. HC Wainwright increased their price objective on shares of McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Wall Street Zen upgraded shares of McEwen from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Finally, Roth Mkm lifted their target price on shares of McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.83.

About McEwen

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.