StockNews.com Upgrades McEwen Mining (NYSE:MUX) to Hold

McEwen Mining (NYSE:MUX) (TSE:MUX) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Several other research firms also recently weighed in on MUX. Roth Mkm reduced their price objective on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a report on Thursday, November 7th. HC Wainwright boosted their price target on shares of McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

McEwen Mining Price Performance

Shares of NYSE:MUX opened at $8.38 on Friday. The firm’s 50 day moving average is $9.49 and its two-hundred day moving average is $9.70. The firm has a market capitalization of $443.47 million, a P/E ratio of 3.83 and a beta of 1.43. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50.

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 the consensus estimate of $0.04 by ($0.08). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The business had revenue of $52.25 million during the quarter, compared to analyst estimates of $48.60 million. During the same quarter in the prior year, the business earned ($0.39) earnings per share. Analysts anticipate that McEwen Mining will post -0.68 earnings per share for the current year.

Institutional Trading of McEwen Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in McEwen Mining by 1.0% during the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after acquiring an additional 6,082 shares during the period. Paloma Partners Management Co acquired a new position in shares of McEwen Mining in the 1st quarter worth approximately $117,000. Tidal Investments LLC bought a new stake in shares of McEwen Mining in the 1st quarter worth approximately $1,348,000. Fifth Third Bancorp acquired a new stake in McEwen Mining during the second quarter valued at approximately $32,000. Finally, Banque Cantonale Vaudoise bought a new stake in McEwen Mining during the second quarter worth approximately $78,000. Institutional investors own 17.03% of the company’s stock.

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.