Shares of McEwen Inc. (NYSE:MUX – Get Free Report) (TSE:MUX) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $29.8333.
Several equities analysts have weighed in on the company. Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen lowered McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings cut McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Roth Capital increased their price target on shares of McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Finally, HC Wainwright lifted their price objective on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research note on Wednesday, March 18th.
View Our Latest Stock Analysis on McEwen
McEwen Price Performance
McEwen (NYSE:MUX – Get Free Report) (TSE:MUX) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.15. McEwen had a return on equity of 13.65% and a net margin of 31.40%.The firm had revenue of $74.05 million for the quarter, compared to analyst estimates of $67.32 million. As a group, equities research analysts expect 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 firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $18.13, for a total transaction of $59,375.75. Following the sale, the director directly owned 18,022 shares in the company, valued at $326,738.86. This trade represents a 15.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 14.80% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV acquired a new position in shares of McEwen in the first quarter valued at $27,000. Leonteq Securities AG acquired a new stake in shares of McEwen during the 1st quarter worth about $31,000. Parkside Financial Bank & Trust bought a new stake in shares of McEwen during the 4th quarter worth about $37,000. Banque Cantonale Vaudoise bought a new stake in shares of McEwen during the 4th quarter worth about $40,000. Finally, National Bank of Canada FI grew its stake in McEwen by 3,328.3% in the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after buying an additional 3,528 shares during the last quarter. Institutional investors 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.
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