McEwen Inc. (NYSE:MUX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $29.8333.

Several research firms recently commented on MUX. Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings lowered McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen downgraded shares of McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th.

Insiders Place Their Bets

In other news, Director Richard W. Brissenden sold 3,275 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $18.13, for a total transaction of $59,375.75. Following the transaction, the director owned 18,022 shares in the company, valued at approximately $326,738.86. This represents a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of McEwen by 24.4% in the fourth quarter. State Street Corp now owns 2,190,605 shares of the basic materials company’s stock valued at $40,548,000 after purchasing an additional 429,761 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in McEwen by 38.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock valued at $33,515,000 after buying an additional 541,890 shares during the last quarter. Dimensional Fund Advisors LP raised its position in McEwen by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company’s stock valued at $21,982,000 after buying an additional 15,439 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in McEwen by 56.3% during the 4th quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company’s stock valued at $18,540,000 after acquiring an additional 360,857 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in McEwen by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company’s stock worth $15,122,000 after acquiring an additional 26,846 shares during the last quarter. 17.03% of the stock is owned by institutional investors and hedge funds.

McEwen Price Performance

Shares of NYSE MUX opened at $19.73 on Thursday. The company has a market capitalization of $1.18 billion, a PE ratio of 16.72 and a beta of 1.23. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.19. McEwen has a twelve month low of $9.82 and a twelve month high of $29.70. The firm has a fifty day simple moving average of $18.49 and a 200 day simple moving average of $21.90.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). McEwen had a return on equity of 13.65% and a net margin of 31.40%.The business had revenue of $59.23 million for the quarter, compared to analyst estimates of $65.51 million. On average, sell-side analysts forecast that McEwen will post 1.01 EPS for the current year.

McEwen Company 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.