McEwen Inc. (NYSE:MUX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have earned an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $29.8333.

A number of analysts have recently weighed in on MUX shares. Wall Street Zen downgraded shares of McEwen from a “buy” rating to a “hold” rating in a report on Sunday. Roth Mkm lifted their price target on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. HC Wainwright boosted their price objective on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 11th.

Institutional Trading of McEwen

A number of institutional investors have recently bought and sold shares of MUX. Royal Bank of Canada increased its position in McEwen by 4,309.4% during the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock valued at $4,823,000 after acquiring an additional 624,382 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of McEwen by 44.2% in the first quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock valued at $481,000 after acquiring an additional 19,548 shares during the period. Empowered Funds LLC lifted its holdings in shares of McEwen by 105.4% in the 1st quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company’s stock worth $1,571,000 after acquiring an additional 106,800 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of McEwen by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 509,426 shares of the basic materials company’s stock worth $4,897,000 after purchasing an additional 1,585 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of McEwen by 92.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 198,771 shares of the basic materials company’s stock worth $1,910,000 after purchasing an additional 95,488 shares during the period. 17.03% of the stock is currently owned by institutional investors.

McEwen Trading Up 4.7%

MUX stock opened at $21.38 on Thursday. The firm has a fifty day moving average price of $24.33 and a 200 day moving average price of $20.58. McEwen has a fifty-two week low of $6.38 and a fifty-two week high of $29.70. The firm has a market cap of $1.27 billion, a PE ratio of 36.23 and a beta of 1.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.27 and a current ratio of 1.69.

McEwen (NYSE:MUX) (TSE:MUX) last released its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.41. McEwen had a net margin of 17.43% and a return on equity of 6.89%. The company had revenue of $64.60 million for the quarter, compared to the consensus estimate of $72.83 million. Sell-side analysts anticipate that McEwen will post -0.72 earnings per share for the current fiscal year.

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.