McEwen Inc. (NYSE:MUX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.50.

MUX has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 29th. Roth Mkm reissued a “buy” rating and set a $30.00 price target (up previously from $23.00) on shares of McEwen in a research report on Friday, January 30th. Finally, Canaccord Genuity Group set a $25.00 target price on McEwen and gave the stock a “buy” rating in a report on Wednesday, October 15th.

Hedge Funds Weigh In On McEwen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in McEwen by 4,309.4% in the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock valued at $4,823,000 after buying an additional 624,382 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in McEwen by 44.2% during the first quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock worth $481,000 after purchasing an additional 19,548 shares during the last quarter. Empowered Funds LLC boosted its holdings in McEwen by 105.4% in the first quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company’s stock worth $1,571,000 after purchasing an additional 106,800 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in McEwen during the second quarter valued at $947,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of McEwen during the second quarter worth $983,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Price Performance

NYSE:MUX opened at $26.29 on Wednesday. McEwen has a 12-month low of $6.38 and a 12-month high of $29.70. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -119.50 and a beta of 1.12. The company’s 50-day moving average is $21.75 and its two-hundred day moving average is $17.55. The company has a current ratio of 2.10, a quick ratio of 1.58 and a debt-to-equity ratio of 0.26.

McEwen Company Profile

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.