McEwen Inc. (NYSE:MUX) Given Average Recommendation of “Moderate Buy” by Brokerages

McEwen Inc. (NYSE:MUX) (TSE:MUX) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $25.50.

MUX has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 29th. Roth Mkm restated a “buy” rating and set a $30.00 target price (up previously from $23.00) on shares of McEwen in a research report on Friday, January 30th.

McEwen Stock Down 6.4%

Shares of NYSE:MUX opened at $24.06 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 2.10 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $1.31 billion, a P/E ratio of -109.36 and a beta of 1.13. McEwen has a 52-week low of $6.38 and a 52-week high of $29.70. The stock’s fifty day simple moving average is $22.42 and its 200-day simple moving average is $18.08.

Hedge Funds Weigh In On McEwen

Several large investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC acquired a new stake in McEwen in the 3rd quarter worth about $27,000. Parkside Financial Bank & Trust acquired a new stake in shares of McEwen in the fourth quarter worth approximately $37,000. Banque Cantonale Vaudoise purchased a new stake in McEwen in the fourth quarter valued at approximately $40,000. National Bank of Canada FI increased its position in McEwen by 3,328.3% during the third quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 3,528 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in McEwen by 330.7% during the fourth quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 3,152 shares during the period. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

About McEwen

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.