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

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $29.8333.

A number of equities analysts have recently weighed in on MUX shares. HC Wainwright upped their price objective on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Wall Street Zen downgraded McEwen from a “buy” rating to a “hold” rating in a research note on Sunday. Roth Mkm boosted their price target on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 11th.

Hedge Funds Weigh In On McEwen

Several institutional investors have recently bought and sold shares of MUX. JPMorgan Chase & Co. grew its position in shares of McEwen by 231.6% during the third quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock valued at $11,270,000 after purchasing an additional 460,308 shares in the last quarter. North of South Capital LLP purchased a new stake in shares of McEwen in the third quarter worth about $855,000. Quantbot Technologies LP boosted its stake in McEwen by 62.7% during the third quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company’s stock valued at $2,254,000 after buying an additional 50,778 shares during the last quarter. Synergy Asset Management LLC bought a new position in McEwen during the fourth quarter valued at approximately $13,547,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in McEwen during the 3rd quarter valued at approximately $598,000. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Stock Up 4.7%

Shares of MUX stock opened at $21.38 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.27. McEwen has a one year low of $6.38 and a one year high of $29.70. The company’s fifty day moving average price is $24.33 and its 200-day moving average price is $20.58. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 36.23 and a beta of 1.28.

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

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.