McEwen Inc. $MUX Stock Acquired by U S Global Investors Inc.

U S Global Investors Inc. boosted its holdings in McEwen Inc. (NYSE:MUX) (TSE:MUX) by 220.9% during the 3rd quarter, Holdings Channel reports. The firm owned 320,914 shares of the basic materials company’s stock after acquiring an additional 220,914 shares during the period. U S Global Investors Inc.’s holdings in McEwen were worth $5,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MUX. GAMMA Investing LLC raised its stake in shares of McEwen by 170.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 1,266 shares during the period. Versant Capital Management Inc purchased a new position in McEwen in the third quarter valued at about $31,000. State Street Corp grew its position 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 valued at $77,135,000 after acquiring an additional 891,024 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of McEwen during the 2nd quarter valued at approximately $248,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of McEwen during the 2nd quarter valued at approximately $703,000. Institutional investors own 17.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MUX. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of McEwen in a research note on Friday, August 28th. Wall Street Zen lowered McEwen from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Roth Capital set a $31.00 target price on McEwen and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $28.00 target price (down from $29.50) on shares of McEwen in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.50.

McEwen Price Performance

Shares of NYSE MUX opened at $14.88 on Friday. The stock has a market cap of $913.34 million, a PE ratio of 11.81 and a beta of 1.26. McEwen Inc. has a fifty-two week low of $14.76 and a fifty-two week high of $29.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 2.04. The stock has a fifty day moving average of $18.68 and a 200-day moving average of $19.74.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data 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). McEwen had a return on equity of 13.48% and a net margin of 32.46%. The company had revenue of $59.23 million for the quarter, compared to analysts’ expectations of $65.51 million. Equities research analysts anticipate that McEwen Inc. will post 0.83 earnings per share for the current year.

McEwen Company Profile

McEwen Inc (NYSE: MUX), formerly known as McEwen Mining Inc, is a precious- and base-metals mining and exploration company. The company develops and operates mineral properties with a focus on gold, silver and copper, and also conducts exploration to expand its resource base.

McEwen’s principal gold assets include the Fox Complex in Ontario, Canada, and the Gold Bar mine in Nevada. The Fox Complex includes underground mining and processing infrastructure in the Timmins mining district, while Gold Bar is an open-pit operation in central Nevada.