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

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have earned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $29.8333.

MUX has been the topic of several research analyst reports. Wall Street Zen cut McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Roth Mkm boosted their price objective on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings cut McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Finally, HC Wainwright boosted their target price on McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a research note on Wednesday, March 18th.

McEwen Stock Up 0.1%

MUX stock opened at $19.40 on Tuesday. The stock’s fifty day simple moving average is $22.09 and its two-hundred day simple moving average is $22.29. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. McEwen has a 1-year low of $8.95 and a 1-year high of $29.70. The stock has a market cap of $1.16 billion, a P/E ratio of 16.44 and a beta of 1.17.

Institutional Trading of McEwen

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of McEwen by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 10,780 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 589 shares during the period. Kercheville Advisors LLC raised its stake in shares of McEwen by 10.0% during the 1st quarter. Kercheville Advisors LLC now owns 11,000 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 1,000 shares during the period. KBC Group NV bought a new stake in shares of McEwen during the 1st quarter valued at $27,000. Geode Capital Management LLC increased its stake in McEwen by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company’s stock worth $9,673,000 after acquiring an additional 1,461 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in McEwen in the 1st quarter worth about $31,000. 17.03% of the stock is currently owned by institutional investors.

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.