McEwen Mining Inc. (MUX) Stock Rating Reaffirmed by HC Wainwright
McEwen Mining Inc. (NYSE:MUX) (TSE:MUX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Wednesday. They currently have a $5.00 price target on the basic materials company’s stock. HC Wainwright’s price target points to a potential upside of 139.23% from the company’s current price.
MUX has been the subject of several other reports. BidaskClub downgraded McEwen Mining from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 6th. Zacks Investment Research cut McEwen Mining from a “hold” rating to a “sell” rating in a report on Friday, July 21st. TheStreet raised McEwen Mining from a “d+” rating to a “c” rating in a report on Friday, June 16th. Finally, ValuEngine cut McEwen Mining from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $5.00.
McEwen Mining (NYSE:MUX) opened at 2.09 on Wednesday. The stock’s 50 day moving average price is $2.32 and its 200-day moving average price is $2.63. The stock’s market capitalization is $652.66 million. McEwen Mining has a 52 week low of $1.94 and a 52 week high of $4.43.
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Large investors have recently made changes to their positions in the stock. Karp Capital Management Corp bought a new stake in McEwen Mining during the first quarter worth approximately $110,000. D L Carlson Investment Group Inc. raised its holdings in McEwen Mining by 107.8% during the second quarter. D L Carlson Investment Group Inc. now owns 38,588 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 20,018 shares in the last quarter. Profund Advisors LLC raised its holdings in McEwen Mining by 0.9% during the second quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 366 shares in the last quarter. Level Four Advisory Services LLC raised its holdings in McEwen Mining by 0.3% during the first quarter. Level Four Advisory Services LLC now owns 39,260 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 100 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of McEwen Mining in the first quarter valued at $125,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.
McEwen Mining Company Profile
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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