McEwen Inc. (NYSE:MUX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $20.50.

Several research firms have recently issued reports on MUX. Weiss Ratings reiterated a “sell (d+)” rating on shares of McEwen in a report on Monday, December 29th. Canaccord Genuity Group set a $25.00 price target on McEwen and gave the company a “buy” rating in a research note on Wednesday, October 15th. Roth Capital reiterated a “buy” rating and set a $23.00 price target (up from $21.00) on shares of McEwen in a research report on Wednesday, December 17th. Finally, HC Wainwright upped their price objective on McEwen from $17.00 to $21.50 and gave the company a “buy” rating in a report on Friday, October 10th.

McEwen Price Performance

Shares of NYSE MUX opened at $22.82 on Friday. The stock has a market cap of $1.24 billion, a P/E ratio of -103.73 and a beta of 1.08. The firm’s 50-day simple moving average is $18.97 and its 200 day simple moving average is $15.75. McEwen has a fifty-two week low of $6.38 and a fifty-two week high of $24.88. The company has a quick ratio of 1.58, a current ratio of 2.10 and a debt-to-equity ratio of 0.26.

McEwen (NYSE:MUX) (TSE:MUX) last announced its earnings results on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). McEwen had a negative net margin of 7.16% and a negative return on equity of 2.45%. The company had revenue of $50.53 million during the quarter, compared to the consensus estimate of $60.00 million. Equities analysts expect that McEwen will post -0.72 EPS for the current year.

Hedge Funds Weigh In On McEwen

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of McEwen by 38.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock worth $33,515,000 after purchasing an additional 541,890 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in McEwen by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company’s stock valued at $21,982,000 after purchasing an additional 15,439 shares during the last quarter. Vanguard Group Inc. boosted its holdings in McEwen by 3.1% during the third quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company’s stock worth $15,122,000 after buying an additional 26,846 shares in the last quarter. Tidal Investments LLC grew its position in McEwen by 4.0% in the second quarter. Tidal Investments LLC now owns 846,440 shares of the basic materials company’s stock worth $8,134,000 after buying an additional 32,218 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of McEwen in the fourth quarter valued at $13,547,000. Institutional investors own 17.03% of the company’s stock.

McEwen Company Profile

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.