McEwen Mining Inc. (MUX) Rating Increased to Sell at BidaskClub
McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday.
A number of other analysts have also recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of McEwen Mining in a research report on Tuesday, July 18th. Zacks Investment Research raised McEwen Mining from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Saturday, April 22nd. TheStreet raised McEwen Mining from a “d+” rating to a “c” rating in a research report on Friday, June 16th. Finally, ValuEngine cut McEwen Mining from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $4.25.
McEwen Mining (MUX) traded up 3.02% during midday trading on Friday, reaching $2.39. The company had a trading volume of 1,918,702 shares. The company’s 50-day moving average is $2.55 and its 200 day moving average is $3.03. McEwen Mining has a 52-week low of $2.15 and a 52-week high of $4.81. The company’s market cap is $746.34 million.
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Institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. raised its position in McEwen Mining by 2.7% in the first quarter. Suntrust Banks Inc. now owns 35,564 shares of the basic materials company’s stock worth $108,000 after buying an additional 946 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of McEwen Mining during the fourth quarter valued at about $106,000. Karp Capital Management Corp acquired a new position in shares of McEwen Mining during the first quarter valued at about $110,000. D L Carlson Investment Group Inc. raised its position in shares of McEwen Mining by 107.8% in the second quarter. D L Carlson Investment Group Inc. now owns 38,588 shares of the basic materials company’s stock valued at $101,000 after buying an additional 20,018 shares during the last quarter. Finally, Profund Advisors LLC raised its position in shares of McEwen Mining by 0.9% in the second quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock valued at $103,000 after buying an additional 366 shares during the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.
About McEwen Mining
McEwen Mining Inc is a mining and minerals production and exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. The Company’s segments include Mexico, Minera Santa Cruz SA (MSC), Nevada and Los Azules. The Mexico Operations segment includes properties, such as El Gallo 1 mine and the El Gallo 2 project.
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