McEwen (NYSE:MUX) Raised to “Buy” at Wall Street Zen

McEwen (NYSE:MUX) (TSE:MUX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities research analysts also recently issued reports on MUX. Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 11th. Roth Mkm boosted their price objective on McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, HC Wainwright raised 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. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.83.

McEwen Price Performance

Shares of MUX opened at $18.48 on Friday. The firm has a 50 day moving average of $24.86 and a 200 day moving average of $20.21. The company has a quick ratio of 1.58, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. McEwen has a twelve month low of $6.38 and a twelve month high of $29.70. The company has a market capitalization of $1.10 billion, a P/E ratio of 31.32 and a beta of 1.11.

McEwen (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.25 by $0.41. McEwen had a return on equity of 6.89% and a net margin of 17.43%.The company had revenue of $64.60 million for the quarter, compared to analysts’ expectations of $72.83 million. As a group, equities research analysts anticipate that McEwen will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of McEwen

Institutional investors and hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC bought a new stake in McEwen during the 3rd quarter valued at about $27,000. Parkside Financial Bank & Trust bought a new stake in shares of McEwen in the 4th quarter valued at about $37,000. Banque Cantonale Vaudoise acquired a new stake in shares of McEwen in the 4th quarter worth $40,000. National Bank of Canada FI raised its position in shares of McEwen by 3,328.3% in the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 3,528 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of McEwen by 330.7% during the fourth quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company’s stock worth $76,000 after buying an additional 3,152 shares during the period. 17.03% of the stock is currently owned by institutional investors.

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.