McEwen (NYSE:MUX) Price Target Raised to $35.00 at Roth Mkm

McEwen (NYSE:MUX) (TSE:MUX) had its target price hoisted by Roth Mkm from $30.00 to $35.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

A number of other research firms have also commented on MUX. Weiss Ratings raised McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 11th. HC Wainwright increased their price objective on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, McEwen currently has an average rating of “Moderate Buy” and an average target price of $29.83.

McEwen Trading Down 7.3%

NYSE MUX opened at $20.87 on Wednesday. The business’s fifty day moving average is $24.92 and its 200 day moving average is $20.17. McEwen has a twelve month low of $6.38 and a twelve month high of $29.70. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 35.37 and a beta of 1.11. The company has a quick ratio of 1.58, a current ratio of 2.10 and a debt-to-equity ratio of 0.26.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.41. McEwen had a return on equity of 7.11% and a net margin of 17.43%.The firm had revenue of $64.60 million for the quarter, compared to analyst estimates of $72.83 million. As a group, sell-side analysts expect that McEwen will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On McEwen

Hedge funds and other institutional investors have recently modified their holdings of the business. CoreCap Advisors LLC purchased a new position in McEwen in the third quarter worth $27,000. Parkside Financial Bank & Trust bought a new position in McEwen during the fourth quarter worth about $37,000. Banque Cantonale Vaudoise bought a new position in McEwen in the 4th quarter worth approximately $40,000. National Bank of Canada FI boosted its holdings in shares of McEwen by 3,328.3% in the third quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 3,528 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in McEwen by 330.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 3,152 shares during the period. Hedge funds and other institutional investors own 17.03% of the company’s stock.

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.