McEwen (NYSE:MUX) Upgraded at Zacks Research

McEwen (NYSE:MUX) (TSE:MUX) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

MUX has been the subject of several other reports. Roth Mkm upped their price objective on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. HC Wainwright upped their price objective on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Wall Street Zen upgraded McEwen from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, McEwen currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.83.

McEwen Stock Up 4.1%

MUX stock opened at $26.10 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81. The stock has a market capitalization of $1.56 billion, a P/E ratio of 22.12 and a beta of 1.19. The business has a 50-day moving average of $22.81 and a 200-day moving average of $21.72. McEwen has a fifty-two week low of $6.88 and a fifty-two week high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.41. The company had revenue of $64.60 million during the quarter, compared to analysts’ expectations of $72.83 million. McEwen had a return on equity of 13.65% and a net margin of 31.40%. On average, sell-side analysts anticipate that McEwen will post 1.06 earnings per share for the current fiscal year.

Institutional Trading of McEwen

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in McEwen by 231.6% during the third quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock worth $11,270,000 after acquiring an additional 460,308 shares in the last quarter. Quantbot Technologies LP raised its holdings in McEwen by 62.7% during the third quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company’s stock worth $2,254,000 after acquiring an additional 50,778 shares in the last quarter. Synergy Asset Management LLC bought a new stake in McEwen in the fourth quarter valued at approximately $13,547,000. U S Global Investors Inc. bought a new stake in McEwen in the fourth quarter valued at approximately $1,857,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in McEwen in the third quarter valued at approximately $598,000. Institutional investors own 17.03% of the company’s stock.

About McEwen

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.