35,000 Shares in McEwen Inc. $MUX Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in McEwen Inc. (NYSE:MUX) (TSE:MUX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,000 shares of the basic materials company’s stock, valued at approximately $598,000.

Several other hedge funds have also recently modified their holdings of MUX. North of South Capital LLP purchased a new position in shares of McEwen in the 3rd quarter worth approximately $855,000. CoreCap Advisors LLC bought a new stake in McEwen in the third quarter worth about $27,000. Tower Research Capital LLC TRC lifted its stake in McEwen by 17,204.9% in the second quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 10,495 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of McEwen during the 2nd quarter valued at $549,000. Finally, Tidal Investments LLC lifted its holdings in McEwen by 4.0% during the second quarter. Tidal Investments LLC now owns 846,440 shares of the basic materials company’s stock valued at $8,134,000 after purchasing an additional 32,218 shares during the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Stock Down 3.2%

Shares of NYSE:MUX opened at $23.37 on Tuesday. The stock has a market capitalization of $1.27 billion, a P/E ratio of -106.24 and a beta of 1.12. The stock’s 50-day moving average price is $20.87 and its 200-day moving average price is $16.95. The company has a current ratio of 2.10, a quick ratio of 1.58 and a debt-to-equity ratio of 0.26. McEwen Inc. has a 12-month low of $6.38 and a 12-month high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last released its earnings results on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). McEwen had a negative net margin of 7.16% and a negative return on equity of 2.45%. The company had revenue of $50.53 million during the quarter, compared to the consensus estimate of $60.00 million. On average, equities analysts anticipate that McEwen Inc. will post -0.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on MUX. Canaccord Genuity Group set a $25.00 price target on McEwen and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 29th. Roth Mkm reiterated a “buy” rating and issued a $30.00 target price (up from $23.00) on shares of McEwen in a research report on Friday. Finally, HC Wainwright increased their price objective on McEwen from $17.00 to $21.50 and gave the company a “buy” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.50.

McEwen Profile

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.