HC Wainwright reiterated their buy rating on shares of McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) in a report issued on Friday. The firm currently has a $5.00 price objective on the basic materials company’s stock.

A number of other research analysts have also issued reports on the stock. BidaskClub lowered shares of McEwen Mining from a sell rating to a strong sell rating in a research note on Thursday, July 6th. Zacks Investment Research lowered shares of McEwen Mining from a hold rating to a sell rating in a research note on Friday, July 21st. Finally, Cantor Fitzgerald started coverage on shares of McEwen Mining in a research note on Thursday, October 26th. They set a buy rating on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $5.00.

Shares of McEwen Mining (MUX) remained flat at $$1.93 during trading on Friday. 1,990,000 shares of the company were exchanged, compared to its average volume of 2,442,068. McEwen Mining has a 52 week low of $1.88 and a 52 week high of $4.43.

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Large investors have recently added to or reduced their stakes in the company. Credit Suisse AG increased its stake in shares of McEwen Mining by 43.6% in the first quarter. Credit Suisse AG now owns 204,374 shares of the basic materials company’s stock worth $621,000 after acquiring an additional 62,039 shares during the period. Bank of New York Mellon Corp increased its stake in shares of McEwen Mining by 49.2% in the first quarter. Bank of New York Mellon Corp now owns 254,018 shares of the basic materials company’s stock worth $772,000 after acquiring an additional 83,797 shares during the period. Vanguard Group Inc. increased its stake in shares of McEwen Mining by 7.2% in the first quarter. Vanguard Group Inc. now owns 3,630,276 shares of the basic materials company’s stock worth $11,036,000 after acquiring an additional 242,942 shares during the period. Karp Capital Management Corp acquired a new stake in shares of McEwen Mining in the first quarter worth $110,000. Finally, Smith Affiliated Capital Corp. increased its stake in shares of McEwen Mining by 29.9% in the second quarter. Smith Affiliated Capital Corp. now owns 51,971 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 11,971 shares during the period. Hedge funds and other institutional investors own 27.76% of the company’s stock.

About McEwen Mining

McEwen Mining Inc is a mining and minerals production and exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. The Company’s segments include Mexico, Minera Santa Cruz SA (MSC), Nevada and Los Azules. The Mexico Operations segment includes properties, such as El Gallo 1 mine and the El Gallo 2 project.

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