McEwen Mining (NYSE:MUX) Price Target Raised to $19.00 at HC Wainwright

McEwen Mining (NYSE:MUX) (TSE:MUX) had its target price hoisted by HC Wainwright from $15.00 to $19.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Separately, StockNews.com raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday.

McEwen Mining Trading Down 3.9 %

MUX traded down $0.36 during trading on Thursday, reaching $8.91. 613,175 shares of the company’s stock were exchanged, compared to its average volume of 660,598. The firm has a fifty day moving average price of $9.57 and a two-hundred day moving average price of $9.95. The company has a current ratio of 1.17, a quick ratio of 1.21 and a debt-to-equity ratio of 0.06. McEwen Mining has a one year low of $5.92 and a one year high of $12.50. The stock has a market capitalization of $471.52 million, a PE ratio of 4.23 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The firm had revenue of $52.25 million during the quarter, compared to the consensus estimate of $48.60 million. During the same period in the prior year, the company posted ($0.39) earnings per share. As a group, equities research analysts forecast that McEwen Mining will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new position in shares of McEwen Mining during the 2nd quarter valued at $32,000. Banque Cantonale Vaudoise acquired a new position in shares of McEwen Mining during the 2nd quarter valued at $78,000. Private Advisor Group LLC acquired a new position in shares of McEwen Mining during the 3rd quarter valued at $99,000. Rathbones Group PLC acquired a new position in shares of McEwen Mining during the 2nd quarter valued at $101,000. Finally, Paloma Partners Management Co acquired a new position in shares of McEwen Mining during the 1st quarter valued at $117,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

About McEwen Mining

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.