McEwen Mining (NYSE:MUX) Trading Up 8.5%

McEwen Mining Inc (NYSE:MUX) (TSE:MUX)’s share price traded up 8.5% during mid-day trading on Tuesday . The company traded as high as $9.86 and last traded at $9.85. 549,484 shares were traded during trading, a decline of 18% from the average session volume of 672,103 shares. The stock had previously closed at $9.08.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a research report on Thursday, July 11th.

McEwen Mining Stock Up 8.9 %

The company has a market cap of $504.12 million, a price-to-earnings ratio of 5.88 and a beta of 1.43. The stock’s 50-day moving average is $9.05 and its 200-day moving average is $9.97. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.07.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). McEwen Mining had a net margin of 46.32% and a return on equity of 18.08%. The business had revenue of $47.48 million for the quarter, compared to the consensus estimate of $43.90 million. During the same quarter last year, the firm posted ($0.46) EPS. On average, analysts anticipate that McEwen Mining Inc will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of McEwen Mining

Several institutional investors have recently made changes to their positions in MUX. Fifth Third Bancorp bought a new position in McEwen Mining during the second quarter valued at about $32,000. Banque Cantonale Vaudoise purchased a new stake in McEwen Mining during the second quarter valued at about $78,000. Rathbones Group PLC purchased a new stake in McEwen Mining during the second quarter valued at about $101,000. Paloma Partners Management Co purchased a new stake in McEwen Mining during the first quarter valued at about $117,000. Finally, Marshall Wace LLP purchased a new stake in McEwen Mining during the second quarter valued at about $214,000. Institutional investors own 17.03% of the company’s stock.

About McEwen Mining

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.