McEwen Inc. (NYSE:MUX) Receives $20.50 Consensus Target Price from Analysts

Shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) have earned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $20.50.

A number of research firms recently commented on MUX. Weiss Ratings raised McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Roth Capital set a $23.00 target price on shares of McEwen in a report on Thursday, October 9th. Canaccord Genuity Group set a $25.00 price target on shares of McEwen and gave the stock a “buy” rating in a report on Wednesday, October 15th. National Bankshares reaffirmed an “outperform” rating on shares of McEwen in a research report on Wednesday, July 16th. Finally, HC Wainwright lifted their target price on shares of McEwen from $17.00 to $21.50 and gave the stock a “buy” rating in a research report on Friday, October 10th.

Insiders Place Their Bets

In other news, VP Jeffrey Chan sold 13,333 shares of McEwen stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $14.89, for a total transaction of $198,528.37. Following the sale, the vice president directly owned 2,267 shares in the company, valued at $33,755.63. The trade was a 85.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Ross Mcewen sold 50,000 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $14.35, for a total transaction of $717,500.00. Following the completion of the transaction, the chief executive officer directly owned 450,000 shares in the company, valued at $6,457,500. This trade represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 77,192 shares of company stock valued at $1,110,702. 16.10% of the stock is owned by insiders.

Institutional Trading of McEwen

Several hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its stake in shares of McEwen by 41.9% during the 1st quarter. Alps Advisors Inc. now owns 729,515 shares of the basic materials company’s stock valued at $5,508,000 after buying an additional 215,396 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of McEwen by 9,935.0% during the first quarter. SBI Securities Co. Ltd. now owns 14,350 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 14,207 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of McEwen by 16.6% in the first quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company’s stock worth $111,000 after acquiring an additional 2,098 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of McEwen in the first quarter valued at $378,000. Finally, GSA Capital Partners LLP grew its position in shares of McEwen by 53.3% in the first quarter. GSA Capital Partners LLP now owns 213,909 shares of the basic materials company’s stock valued at $1,615,000 after purchasing an additional 74,401 shares in the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Price Performance

Shares of NYSE MUX opened at $16.02 on Monday. The stock has a market cap of $872.50 million, a price-to-earnings ratio of -64.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 2.35. McEwen has a fifty-two week low of $6.38 and a fifty-two week high of $24.88. The firm’s 50-day simple moving average is $16.84 and its 200 day simple moving average is $12.11.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.32). McEwen had a negative return on equity of 2.76% and a negative net margin of 8.05%.The company had revenue of $50.53 million during the quarter, compared to analysts’ expectations of $60.00 million. As a group, research analysts anticipate that McEwen will post -0.72 earnings per share for the current fiscal year.

McEwen Company Profile

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.