McEwen Inc. (NYSE:MUX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

McEwen Inc. (NYSE:MUX) (TSE:MUX) has received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $28.00.

A number of research firms have weighed in on MUX. Roth Capital set a $31.00 price target on McEwen and gave the company a “buy” rating in a research note on Monday, August 10th. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective (down from $29.50) on shares of McEwen in a report on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of McEwen in a research note on Friday, August 28th. Wall Street Zen raised McEwen from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of McEwen by 26.5% during the 2nd quarter. State Street Corp now owns 4,254,551 shares of the basic materials company’s stock worth $77,135,000 after purchasing an additional 891,024 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of McEwen by 15.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,269,760 shares of the basic materials company’s stock worth $25,920,000 after acquiring an additional 172,687 shares during the period. BNP Paribas Financial Markets increased its position in McEwen by 56.3% during 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 during the last quarter. Synergy Asset Management LLC raised its position in shares of McEwen by 31.6% in the 2nd quarter. Synergy Asset Management LLC now owns 803,122 shares of the basic materials company’s stock worth $14,561,000 after buying an additional 193,005 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of McEwen by 1,347.7% in the 1st quarter. Bank of America Corp DE now owns 534,824 shares of the basic materials company’s stock worth $10,921,000 after purchasing an additional 497,882 shares during the period. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Trading Down 0.7%

NYSE MUX opened at $17.98 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.61. The stock has a market capitalization of $1.10 billion, a P/E ratio of 14.27 and a beta of 1.26. The firm’s 50-day moving average is $19.12 and its two-hundred day moving average is $20.19. McEwen has a 12 month low of $14.93 and a 12 month high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The business had revenue of $59.23 million for the quarter, compared to analysts’ expectations of $65.51 million. McEwen had a return on equity of 13.48% and a net margin of 32.46%. On average, sell-side analysts anticipate that McEwen will post 0.83 earnings per share for the current year.

McEwen Company Profile

McEwen Inc is a mining company focused on the exploration, development, and production of gold, silver, and copper. The company’s portfolio includes operating mines, advanced development projects, and exploration properties in the United States, Canada, and Argentina.

Its principal gold assets include the Fox Complex in Ontario, Canada, and the Gold Bar mine in Nevada. McEwen also has an interest in the San José mine in Argentina, which has historically produced gold and silver, and is advancing the Los Azules copper project in San Juan Province, Argentina, through its McEwen Copper subsidiary.

McEwen was founded by mining entrepreneur Rob McEwen, who serves as chairman.