McEwen Mining (MUX) Now Covered by Roth Capital

Equities research analysts at Roth Capital began coverage on shares of McEwen Mining (NYSE:MUX) (TSE:MUX) in a research note issued on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $3.25 price target on the basic materials company’s stock. Roth Capital’s price target indicates a potential upside of 75.68% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of McEwen Mining in a report on Wednesday, October 11th. Zacks Investment Research raised McEwen Mining from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Cantor Fitzgerald started coverage on McEwen Mining in a report on Thursday, October 26th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. McEwen Mining currently has a consensus rating of “Hold” and a consensus target price of $4.13.

Shares of McEwen Mining (NYSE:MUX) traded up $0.02 during mid-day trading on Monday, hitting $1.85. The company’s stock had a trading volume of 2,996,150 shares, compared to its average volume of 3,522,702. McEwen Mining has a 52-week low of $1.82 and a 52-week high of $4.43.

Institutional investors and hedge funds have recently made changes to their positions in the company. D L Carlson Investment Group Inc. lifted its stake in shares of McEwen Mining by 107.8% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 38,588 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 20,018 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of McEwen Mining by 0.9% in the 2nd quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock valued at $103,000 after acquiring an additional 366 shares during the last quarter. Sigma Planning Corp lifted its stake in shares of McEwen Mining by 82.7% in the 2nd quarter. Sigma Planning Corp now owns 57,882 shares of the basic materials company’s stock valued at $152,000 after acquiring an additional 26,203 shares during the last quarter. CIBC World Markets Inc. lifted its stake in shares of McEwen Mining by 10.6% in the 2nd quarter. CIBC World Markets Inc. now owns 86,054 shares of the basic materials company’s stock valued at $226,000 after acquiring an additional 8,233 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new position in shares of McEwen Mining in the 2nd quarter valued at $242,000. Institutional investors own 27.73% of the company’s stock.

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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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