Roth Mkm Lowers McEwen Mining (NYSE:MUX) Price Target to $12.50

McEwen Mining (NYSE:MUX) (TSE:MUX) had its target price cut by equities researchers at Roth Mkm from $13.00 to $12.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Roth Mkm’s price objective points to a potential upside of 63.29% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of McEwen Mining in a research note on Wednesday. StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.

McEwen Mining Stock Performance

NYSE MUX opened at $7.66 on Friday. McEwen Mining has a 52-week low of $6.46 and a 52-week high of $12.50. The company has a 50-day simple moving average of $7.75 and a 200 day simple moving average of $8.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. The company has a market capitalization of $412.87 million, a PE ratio of 3.50 and a beta of 1.39.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Friday, March 14th. The basic materials company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $33.52 million for the quarter, compared to analysts’ expectations of $32.20 million. On average, research analysts predict that McEwen Mining will post -0.72 EPS for the current year.

Hedge Funds Weigh In On McEwen Mining

A number of large investors have recently modified their holdings of MUX. Tidal Investments LLC boosted its position in shares of McEwen Mining by 556.7% in the fourth quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company’s stock valued at $7,810,000 after acquiring an additional 850,971 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of McEwen Mining by 369.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company’s stock valued at $4,331,000 after acquiring an additional 438,088 shares during the period. U S Global Investors Inc. bought a new position in shares of McEwen Mining in the fourth quarter valued at approximately $2,557,000. Bridgeway Capital Management LLC bought a new position in shares of McEwen Mining in the fourth quarter valued at approximately $2,111,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in McEwen Mining by 66.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock valued at $3,659,000 after purchasing an additional 157,300 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors.

McEwen Mining Company Profile

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.