Zacks Research upgraded shares of McEwen (NYSE:MUX – Free Report) (TSE:MUX) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.
Other research analysts also recently issued reports about the company. Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 11th. Roth Mkm lifted their target price on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Wall Street Zen upgraded McEwen from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, HC Wainwright lifted their target price on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, McEwen has a consensus rating of “Moderate Buy” and an average target price of $29.83.
Check Out Our Latest Research Report on McEwen
McEwen Stock Up 4.1%
McEwen (NYSE:MUX – Get Free Report) (TSE:MUX) last issued its earnings results on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.25 by $0.41. McEwen had a return on equity of 13.65% and a net margin of 31.40%.The company had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. Analysts anticipate that McEwen will post 1.06 EPS for the current fiscal year.
Hedge Funds Weigh In On McEwen
Several hedge funds and other institutional investors have recently modified their holdings of the business. CoreCap Advisors LLC bought a new stake in McEwen during the 3rd quarter worth $27,000. KBC Group NV acquired a new position in McEwen in the 1st quarter valued at approximately $27,000. Leonteq Securities AG bought a new position in shares of McEwen during the first quarter valued at $31,000. Parkside Financial Bank & Trust bought a new position in shares of McEwen during the fourth quarter valued at $37,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of McEwen during the fourth quarter valued at $40,000. Institutional investors own 17.03% of the company’s stock.
About McEwen
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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