McEwen (NYSE:MUX – Free Report) (TSE:MUX) had its price objective cut by HC Wainwright from $28.00 to $27.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock. HC Wainwright also issued estimates for McEwen’s FY2026 earnings at $0.22 EPS and FY2027 earnings at ($0.05) EPS.
MUX has been the subject of several other research reports. Wall Street Zen downgraded shares of McEwen from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Roth Capital set a $31.00 price target on shares of McEwen and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of McEwen in a report on Friday, August 28th. Finally, Zacks Research upgraded McEwen from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.
Get Our Latest Research Report on McEwen
McEwen Trading Down 5.8%
Shares of NYSE:MUX opened at $11.97 on Tuesday. The business’s 50 day moving average price is $16.96 and its 200-day moving average price is $20.37. McEwen has a 1 year low of $11.94 and a 1 year high of $29.70. The firm has a market capitalization of $737.43 million, a price-to-earnings ratio of 17.87 and a beta of 1.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.61.
McEwen (NYSE:MUX – Get Free Report) (TSE:MUX) last issued its quarterly earnings results on Monday, November 9th. The basic materials company reported ($0.60) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.69). The company had revenue of $43.64 million during the quarter, compared to analysts’ expectations of $43.00 million. McEwen had a return on equity of 6.90% and a net margin of 18.41%. On average, equities research analysts forecast that McEwen will post 0.48 earnings per share for the current fiscal year.
Hedge Funds Weigh In On McEwen
A number of institutional investors and hedge funds have recently bought and sold shares of MUX. State Street Corp lifted its stake in McEwen by 26.5% in 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of McEwen by 15.7% in 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 last quarter. Synergy Asset Management LLC increased its stake 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 acquiring an additional 193,005 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of McEwen by 1,347.7% during 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 acquiring an additional 497,882 shares during the period. Finally, U S Global Investors Inc. raised its holdings in shares of McEwen by 220.9% during the 3rd quarter. U S Global Investors Inc. now owns 320,914 shares of the basic materials company’s stock worth $5,728,000 after acquiring an additional 220,914 shares during the period. 17.03% of the stock is currently owned by institutional investors and hedge funds.
McEwen Company Profile
McEwen Inc., formerly known as McEwen Mining, is a metals exploration and mining company focused on gold, silver and copper. Its activities include operating mines, advancing development projects and exploring for additional mineral resources. The company’s assets and projects span the United States, Canada, Mexico and Argentina. Its portfolio includes gold and silver properties as well as the Los Azules copper project in Argentina, which is being advanced through its McEwen Copper subsidiary. McEwen was founded by Rob McEwen, who serves as the company’s chairman and chief executive officer.
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