Richard Brissenden Sells 3,275 Shares of McEwen (NYSE:MUX) Stock

McEwen Inc. (NYSE:MUX) (TSE:MUX) Director Richard Brissenden sold 3,275 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $18.13, for a total transaction of $59,375.75. Following the completion of the sale, the director owned 18,022 shares in the company, valued at $326,738.86. This represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

McEwen Stock Performance

NYSE:MUX opened at $18.89 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $20.97 and a two-hundred day moving average price of $22.27. McEwen Inc. has a twelve month low of $9.82 and a twelve month high of $29.70. The company has a market capitalization of $1.13 billion, a P/E ratio of 16.01 and a beta of 1.21.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.15. The company had revenue of $74.05 million for the quarter, compared to the consensus estimate of $67.32 million. McEwen had a net margin of 31.40% and a return on equity of 13.65%. As a group, research analysts expect that McEwen Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. HC Wainwright increased their target price on McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a report on Wednesday, March 18th. Roth Mkm boosted their price target on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Weiss Ratings downgraded McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.83.

Institutional Trading of McEwen

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of McEwen by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 10,780 shares of the basic materials company’s stock valued at $220,000 after buying an additional 589 shares during the period. Kercheville Advisors LLC raised its position in shares of McEwen by 10.0% in the 1st quarter. Kercheville Advisors LLC now owns 11,000 shares of the basic materials company’s stock worth $225,000 after buying an additional 1,000 shares during the period. KBC Group NV acquired a new position in McEwen in the first quarter valued at $27,000. Geode Capital Management LLC grew its position in McEwen by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company’s stock valued at $9,673,000 after acquiring an additional 1,461 shares during the period. Finally, Leonteq Securities AG acquired a new stake in McEwen during the first quarter worth about $31,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Company Profile

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.