McEwen (NYSE:MUX) Stock Rating Lowered by Wall Street Zen

McEwen (NYSE:MUX) (TSE:MUX) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

MUX has been the subject of a number of other research reports. Weiss Ratings upgraded shares of McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 11th. Roth Mkm increased their price objective on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, HC Wainwright boosted their target price on shares of McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, McEwen currently has a consensus rating of “Moderate Buy” and an average target price of $29.83.

McEwen Stock Down 2.4%

MUX opened at $18.79 on Friday. The company has a market capitalization of $1.12 billion, a P/E ratio of 31.84 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.27. The firm’s fifty day moving average price is $24.45 and its two-hundred day moving average price is $20.53. McEwen has a fifty-two week low of $6.38 and a fifty-two week high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.41. McEwen had a net margin of 17.43% and a return on equity of 6.89%. The company had revenue of $64.60 million during the quarter, compared to analysts’ expectations of $72.83 million. On average, analysts anticipate that McEwen will post -0.72 EPS for the current year.

Institutional Investors Weigh In On McEwen

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in shares of McEwen by 4,309.4% during the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock worth $4,823,000 after purchasing an additional 624,382 shares during the last quarter. Goldman Sachs Group Inc. increased its position in McEwen by 44.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock valued at $481,000 after acquiring an additional 19,548 shares in the last quarter. Empowered Funds LLC raised its stake in shares of McEwen by 105.4% in the first quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company’s stock worth $1,571,000 after acquiring an additional 106,800 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of McEwen by 0.3% in the second quarter. Geode Capital Management LLC now owns 509,426 shares of the basic materials company’s stock worth $4,897,000 after acquiring an additional 1,585 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of McEwen by 92.5% during the second quarter. JPMorgan Chase & Co. now owns 198,771 shares of the basic materials company’s stock worth $1,910,000 after purchasing an additional 95,488 shares in the last quarter. 17.03% of the stock is owned by institutional investors and hedge funds.

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.