Analysts Set McEwen Inc. (NYSE:MUX) Price Target at $29.83

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $29.8333.

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

Insider Activity

In other news, Director Richard W. Brissenden sold 3,275 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $18.13, for a total transaction of $59,375.75. Following the transaction, the director owned 18,022 shares of the company’s stock, valued at approximately $326,738.86. This represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 14.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On McEwen

Hedge funds have recently bought and sold shares of the business. State Street Corp lifted its position in shares of McEwen by 24.4% during the fourth quarter. State Street Corp now owns 2,190,605 shares of the basic materials company’s stock worth $40,548,000 after purchasing an additional 429,761 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of McEwen by 38.2% in the third 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 grew its holdings in shares of McEwen by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company’s stock worth $21,982,000 after purchasing an additional 15,439 shares during the last quarter. BNP Paribas Financial Markets increased its stake in McEwen by 56.3% in the 4th quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company’s stock worth $18,540,000 after buying an additional 360,857 shares during the period. Finally, Vanguard Group Inc. increased its stake in McEwen by 3.1% in the 3rd 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 during the period. Institutional investors own 17.03% of the company’s stock.

McEwen Price Performance

NYSE:MUX opened at $17.85 on Friday. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 15.13 and a beta of 1.21. McEwen has a 1 year low of $9.82 and a 1 year high of $29.70. The business has a 50 day simple moving average of $20.21 and a 200-day simple moving average of $22.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81.

McEwen (NYSE:MUX) (TSE:MUX) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. McEwen had a return on equity of 13.65% and a net margin of 31.40%.The firm had revenue of $74.05 million during the quarter, compared to analysts’ expectations of $67.32 million. Equities analysts forecast that McEwen will post 1.01 EPS for the current 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.