McEwen Mining (NYSE:MUX) Rating Lowered to Sell at StockNews.com

McEwen Mining (NYSE:MUX) (TSE:MUX) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also recently commented on the stock. HC Wainwright lifted their target price on shares of McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Roth Mkm decreased their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research note on Thursday, November 7th.

McEwen Mining Trading Up 0.1 %

NYSE MUX opened at $8.42 on Thursday. The firm’s fifty day moving average price is $9.53 and its 200 day moving average price is $9.82. McEwen Mining has a 12 month low of $5.92 and a 12 month high of $12.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The company has a market capitalization of $445.59 million, a price-to-earnings ratio of 3.84 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The firm had revenue of $52.25 million for the quarter, compared to analyst estimates of $48.60 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. During the same quarter last year, the firm posted ($0.39) EPS. On average, sell-side analysts expect that McEwen Mining will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC purchased a new position in shares of McEwen Mining during the 1st quarter worth approximately $1,348,000. Renaissance Technologies LLC grew its holdings in McEwen Mining by 41.3% during the second quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock worth $1,808,000 after acquiring an additional 57,600 shares during the period. Private Advisor Group LLC purchased a new position in McEwen Mining in the third quarter worth $99,000. Van ECK Associates Corp boosted its position in shares of McEwen Mining by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock worth $19,448,000 after purchasing an additional 67,885 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of McEwen Mining by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after purchasing an additional 6,082 shares in the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.