McEwen Mining Inc (NYSE:MUX) (TSE:MUX) gapped up before the market opened on Tuesday . The stock had previously closed at $1.14, but opened at $1.13. McEwen Mining shares last traded at $1.17, with a volume of 91,479 shares traded.
A number of equities analysts have recently weighed in on MUX shares. HC Wainwright reaffirmed a “buy” rating and set a $2.00 price target on shares of McEwen Mining in a research note on Thursday, December 12th. B. Riley reduced their price objective on shares of McEwen Mining from $4.20 to $3.80 and set a “buy” rating for the company in a research note on Thursday, October 17th. Zacks Investment Research downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, ValuEngine downgraded shares of McEwen Mining from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $2.90.
The firm has a market cap of $413.28 million, a PE ratio of -9.08 and a beta of -0.64. The company has a current ratio of 1.41, a quick ratio of 0.56 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $1.29 and a 200 day moving average price of $1.63.
McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Wednesday, October 30th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $32.69 million during the quarter, compared to analysts’ expectations of $36.67 million. McEwen Mining had a negative net margin of 50.01% and a negative return on equity of 11.41%. As a group, equities research analysts anticipate that McEwen Mining Inc will post -0.11 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in MUX. Tower Research Capital LLC TRC raised its stake in shares of McEwen Mining by 150.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,300 shares of the basic materials company’s stock worth $25,000 after buying an additional 8,600 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in McEwen Mining in the 3rd quarter valued at about $34,000. Virtu Financial LLC increased its holdings in McEwen Mining by 115.5% during the 3rd quarter. Virtu Financial LLC now owns 27,337 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 14,653 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in McEwen Mining during the 3rd quarter valued at about $57,000. Finally, Pictet Asset Management Ltd. increased its holdings in McEwen Mining by 50.0% during the 2nd quarter. Pictet Asset Management Ltd. now owns 37,098 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 12,366 shares in the last quarter. Institutional investors and hedge funds own 26.96% of the company’s stock.
About McEwen Mining (NYSE:MUX)
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.
