McEwen Mining (NYSE:MUX) Stock Price Expected to Rise, HC Wainwright Analyst Says

McEwen Mining (NYSE:MUX) (TSE:MUX) had its target price upped by investment analysts at HC Wainwright from $15.00 to $19.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target indicates a potential upside of 109.02% from the stock’s previous close.

Separately, StockNews.com raised McEwen Mining from a “sell” rating to a “hold” rating in a report on Wednesday.

McEwen Mining Trading Down 0.9 %

MUX stock opened at $9.09 on Thursday. McEwen Mining has a 1-year low of $5.92 and a 1-year high of $12.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21. The company has a market capitalization of $464.23 million, a price-to-earnings ratio of 4.94 and a beta of 1.43. The business has a 50 day simple moving average of $9.57 and a two-hundred day simple moving average of $9.96.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The business had revenue of $47.48 million during the quarter, compared to the consensus estimate of $43.90 million. McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. During the same quarter in the previous year, the company earned ($0.46) earnings per share. Research analysts anticipate that McEwen Mining will post -0.73 EPS for the current fiscal year.

Institutional Trading of McEwen Mining

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in McEwen Mining during the 1st quarter valued at $529,000. Quantbot Technologies LP raised its holdings in McEwen Mining by 130.4% during the 1st quarter. Quantbot Technologies LP now owns 54,401 shares of the basic materials company’s stock valued at $536,000 after buying an additional 30,788 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in McEwen Mining during the 1st quarter valued at $1,023,000. Vanguard Group Inc. raised its holdings in 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 buying an additional 6,082 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in McEwen Mining during the 1st quarter valued at $117,000. 17.03% of the stock is owned by hedge funds and other institutional investors.

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.