McEwen Mining (NYSE:MUX) Cut to Sell at StockNews.com

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

Other equities analysts have also recently issued research reports about the stock. HC Wainwright upped their target price on shares of McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Mkm reduced their price target on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday, November 7th.

McEwen Mining Stock Performance

Shares of MUX opened at $8.42 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $9.53 and its 200-day moving average price is $9.81. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50. The stock has a market cap of $445.59 million, a P/E ratio of 3.84 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The firm had revenue of $52.25 million during the quarter, compared to the consensus estimate of $48.60 million. During the same quarter in the prior year, the company posted ($0.39) EPS. Equities research analysts anticipate that McEwen Mining will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of McEwen Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of MUX. Fifth Third Bancorp purchased a new stake in McEwen Mining in the 2nd quarter worth approximately $32,000. Quarry LP purchased a new stake in shares of McEwen Mining in the third quarter worth $51,000. Vanguard Group Inc. raised its position in shares of McEwen Mining by 1.0% during the 1st 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 during the period. Banque Cantonale Vaudoise purchased a new position in shares of McEwen Mining during the 2nd quarter valued at $78,000. Finally, Private Advisor Group LLC bought a new position in McEwen Mining in the 3rd quarter worth $99,000. Hedge funds and other institutional investors 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.