Brokerages Set McEwen Inc. (NYSE:MUX) Target Price at $29.83

McEwen Inc. (NYSE:MUX) (TSE:MUX) has received an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $29.8333.

Several research analysts have issued reports on MUX shares. Wall Street Zen cut shares of McEwen from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings lowered shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, Zacks Research raised shares of McEwen from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th.

McEwen Price Performance

Shares of MUX stock opened at $16.57 on Friday. McEwen has a twelve month low of $9.82 and a twelve month high of $29.70. The stock has a market capitalization of $989.59 million, a price-to-earnings ratio of 14.04 and a beta of 1.21. The stock has a fifty day simple moving average of $19.97 and a two-hundred day simple moving average of $22.16. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19.

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

Insider Buying and Selling

In related news, Director Richard W. Brissenden sold 3,275 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $18.13, for a total value of $59,375.75. Following the completion of the transaction, the director owned 18,022 shares of the company’s stock, valued at $326,738.86. The trade was a 15.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 14.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MUX. State Street Corp lifted its stake in shares of McEwen by 24.4% during the 4th quarter. State Street Corp now owns 2,190,605 shares of the basic materials company’s stock worth $40,548,000 after purchasing an additional 429,761 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in McEwen by 38.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock valued at $33,515,000 after purchasing an additional 541,890 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in McEwen by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company’s stock valued at $21,982,000 after purchasing an additional 15,439 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in McEwen by 56.3% in the fourth quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company’s stock worth $18,540,000 after purchasing an additional 360,857 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in McEwen by 3.1% in the third quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company’s stock worth $15,122,000 after purchasing an additional 26,846 shares in the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

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.