McEwen Mining (NYSE:MUX) Upgraded at StockNews.com

StockNews.com upgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a sell rating to a hold rating in a research report released on Wednesday.

McEwen Mining Trading Down 3.9 %

NYSE:MUX opened at $8.91 on Wednesday. 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 12 month low of $5.92 and a 12 month high of $12.50. The company has a market cap of $471.52 million, a PE ratio of 4.07 and a beta of 1.43. The company has a 50 day simple moving average of $9.56 and a two-hundred day simple moving average of $9.94.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (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 business had revenue of $52.25 million for the quarter, compared to the consensus estimate of $48.60 million. During the same period in the previous year, the firm earned ($0.39) EPS. Research analysts forecast that McEwen Mining will post -0.73 earnings per share for the current year.

Institutional Trading of McEwen Mining

Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in McEwen Mining by 2.1% during the 3rd quarter. Van ECK Associates Corp now owns 2,163,930 shares of the basic materials company’s stock valued at $20,125,000 after purchasing an additional 45,410 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of McEwen Mining by 1.0% during the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock valued at $6,074,000 after purchasing an additional 6,082 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of McEwen Mining by 66.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock valued at $3,659,000 after purchasing an additional 157,300 shares in the last quarter. Renaissance Technologies LLC lifted its position in McEwen Mining by 41.3% during the second quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock valued at $1,808,000 after acquiring an additional 57,600 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in McEwen Mining during the first quarter valued at approximately $1,348,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Mining Company Profile

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.