McEwen Mining (NYSE:MUX) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a hold rating to a sell rating in a report issued on Thursday.

MUX has been the topic of a number of other research reports. HC Wainwright dropped their price objective on McEwen Mining from $18.00 to $15.50 and set a “buy” rating on the stock in a report on Friday, May 9th. Roth Mkm dropped their price objective on McEwen Mining from $13.00 to $12.50 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, National Bank Financial upgraded McEwen Mining to a “strong-buy” rating in a report on Tuesday, April 29th.

McEwen Mining Price Performance

Shares of NYSE MUX opened at $7.97 on Thursday. The stock’s 50-day moving average is $7.60 and its two-hundred day moving average is $7.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. McEwen Mining has a 1-year low of $6.38 and a 1-year high of $12.45. The company has a market cap of $430.45 million, a price-to-earnings ratio of 3.64 and a beta of 0.93.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $35.70 million for the quarter, compared to the consensus estimate of $39.06 million. Analysts forecast that McEwen Mining will post -0.72 EPS for the current fiscal year.

Institutional Trading of McEwen Mining

A number of large investors have recently made changes to their positions in the company. Empowered Funds LLC boosted its position in shares of McEwen Mining by 105.4% in the 1st quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company’s stock valued at $1,571,000 after purchasing an additional 106,800 shares during the period. Everstar Asset Management LLC acquired a new stake in shares of McEwen Mining in the 1st quarter valued at about $128,000. Goldman Sachs Group Inc. boosted its position in shares of McEwen Mining 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 purchasing an additional 19,548 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of McEwen Mining by 10.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,184,757 shares of the basic materials company’s stock valued at $8,945,000 after purchasing an additional 109,770 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in shares of McEwen Mining by 39.4% in the 1st quarter. Bridgeway Capital Management LLC now owns 378,100 shares of the basic materials company’s stock valued at $2,855,000 after purchasing an additional 106,800 shares during the period. 17.03% of the stock is owned by institutional investors and hedge funds.

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.