McEwen Mining Inc (NYSE:MUX) (TSE:MUX) was down 0.6% during trading on Friday . The company traded as low as $1.65 and last traded at $1.66, approximately 248,226 shares were traded during mid-day trading. A decline of 93% from the average daily volume of 3,744,790 shares. The stock had previously closed at $1.67.
A number of equities research analysts have commented on MUX shares. Zacks Investment Research upgraded McEwen Mining from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded McEwen Mining from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. B. Riley started coverage on McEwen Mining in a research report on Tuesday. They issued a “buy” rating and a $4.20 price target on the stock. Finally, HC Wainwright upped their price target on McEwen Mining from $2.50 to $3.50 and gave the company a “buy” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. McEwen Mining has an average rating of “Buy” and a consensus target price of $3.85.
The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $1.89 and a 200 day moving average of $1.65. The company has a market cap of $602.02 million, a P/E ratio of -12.54 and a beta of -0.47.
McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its earnings results on Tuesday, July 30th. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). McEwen Mining had a negative net margin of 55.09% and a negative return on equity of 11.81%. The business had revenue of $36.38 million for the quarter, compared to the consensus estimate of $34.92 million. On average, equities analysts predict that McEwen Mining Inc will post -0.06 EPS for the current year.
In related news, Director Richard W. Brissenden sold 25,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $2.01, for a total transaction of $50,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.70% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in MUX. Mercer Global Advisors Inc. ADV bought a new stake in shares of McEwen Mining during the 1st quarter valued at about $45,000. First Republic Investment Management Inc. raised its stake in McEwen Mining by 39.1% during the 1st quarter. First Republic Investment Management Inc. now owns 35,050 shares of the basic materials company’s stock worth $53,000 after buying an additional 9,850 shares during the period. ETF Managers Group LLC raised its stake in McEwen Mining by 12.4% during the 1st quarter. ETF Managers Group LLC now owns 616,366 shares of the basic materials company’s stock worth $925,000 after buying an additional 67,842 shares during the period. CIBC World Markets Inc. raised its stake in McEwen Mining by 851.2% during the 1st quarter. CIBC World Markets Inc. now owns 1,017,215 shares of the basic materials company’s stock worth $1,526,000 after buying an additional 910,279 shares during the period. Finally, Pictet Asset Management Ltd. raised its stake in McEwen Mining by 134.8% during the 1st quarter. Pictet Asset Management Ltd. now owns 24,732 shares of the basic materials company’s stock worth $37,000 after buying an additional 14,200 shares during the period. Institutional investors own 25.42% of the company’s stock.
About McEwen Mining (NYSE:MUX)
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.
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