McEwen (NYSE:MUX) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $22.06 and traded as high as $22.41. McEwen shares last traded at $21.9740, with a volume of 804,713 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Roth Mkm boosted their target price on shares of McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings raised shares of McEwen from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. HC Wainwright boosted their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded shares of McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, McEwen currently has a consensus rating of “Moderate Buy” and an average price target of $29.83.

McEwen Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $22.23 and its two-hundred day simple moving average is $22.06. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 18.62 and a beta of 1.19.

McEwen (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.41. McEwen had a net margin of 31.40% and a return on equity of 13.65%. The firm had revenue of $64.60 million for the quarter, compared to the consensus estimate of $72.83 million. On average, analysts forecast that McEwen Inc. will post 1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On McEwen

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of McEwen by 231.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock valued at $11,270,000 after purchasing an additional 460,308 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of McEwen by 62.7% in the 3rd quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company’s stock valued at $2,254,000 after purchasing an additional 50,778 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of McEwen in the 4th quarter valued at $13,547,000. U S Global Investors Inc. acquired a new stake in shares of McEwen in the 4th quarter valued at $1,857,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of McEwen in the 3rd quarter valued at $598,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

About McEwen

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.