McEwen Mining (NYSE:MUX) Sets New 1-Year High at $12.27

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) reached a new 52-week high on Friday . The stock traded as high as $12.27 and last traded at $12.04, with a volume of 205245 shares changing hands. The stock had previously closed at $11.94.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. TheStreet upgraded shares of McEwen Mining from a “d” rating to a “c” rating in a research note on Friday, March 1st. HC Wainwright lowered their target price on shares of McEwen Mining from $18.50 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 4th.

McEwen Mining Trading Up 2.7 %

The stock has a market capitalization of $606.13 million, a price-to-earnings ratio of 10.75 and a beta of 1.53. The business has a 50-day moving average of $9.20 and a 200-day moving average of $7.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.76.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its earnings results on Thursday, February 29th. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $3.22. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. The business had revenue of $58.68 million during the quarter, compared to analysts’ expectations of $53.00 million. As a group, research analysts forecast that McEwen Mining Inc will post -0.3 EPS for the current year.

Hedge Funds Weigh In On McEwen Mining

Institutional investors have recently bought and sold shares of the company. Polunin Capital Partners Ltd purchased a new stake in shares of McEwen Mining during the 1st quarter worth $6,730,000. Van ECK Associates Corp lifted its holdings in shares of McEwen Mining by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 2,030,048 shares of the basic materials company’s stock worth $14,637,000 after acquiring an additional 56,698 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of McEwen Mining in the 4th quarter valued at $377,000. Connor Clark & Lunn Investment Management Ltd. grew its position in McEwen Mining by 175.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,611 shares of the basic materials company’s stock valued at $486,000 after acquiring an additional 48,192 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of McEwen Mining by 154.0% during the 4th quarter. Jump Financial LLC now owns 74,263 shares of the basic materials company’s stock worth $535,000 after purchasing an additional 45,020 shares during the period. 17.03% of the stock is owned by institutional investors and hedge funds.

About McEwen Mining

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.