Shares of McEwen Inc. (NYSE:MUX – Get Free Report) (TSE:MUX) have received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $28.00.
Several research firms recently weighed in 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. HC Wainwright restated a “buy” rating and set a $28.00 price target (down from $29.50) on shares of McEwen in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of McEwen in a report on Friday, August 28th. Wall Street Zen upgraded McEwen from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, Roth Capital set a $31.00 price objective on McEwen and gave the stock a “buy” rating in a report on Monday, August 10th.
Get Our Latest Analysis on MUX
McEwen Price Performance
McEwen (NYSE:MUX – Get Free Report) (TSE:MUX) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $65.51 million. Analysts expect that McEwen will post 0.83 EPS for the current year.
Insiders Place Their Bets
In other McEwen news, Director Richard Brissenden sold 3,275 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $18.13, for a total value of $59,375.75. Following the sale, the director owned 18,022 shares of the company’s stock, valued at $326,738.86. The trade was a 15.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 14.80% of the stock is owned by corporate insiders.
Institutional Trading of McEwen
Several institutional investors have recently made changes to their positions in MUX. KBC Group NV acquired a new position in McEwen in the first quarter worth about $27,000. Leonteq Securities AG bought a new stake in shares of McEwen in the 1st quarter valued at approximately $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in shares of McEwen in the 4th quarter worth approximately $93,000. Entropy Technologies LP acquired a new position in shares of McEwen in the 1st quarter worth approximately $206,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of McEwen during the 2nd quarter worth approximately $218,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.
McEwen Company Profile
McEwen Inc is a mining company focused on the exploration, development, and production of gold, silver, and copper. The company’s portfolio includes operating mines, advanced development projects, and exploration properties in the United States, Canada, and Argentina.
Its principal gold assets include the Fox Complex in Ontario, Canada, and the Gold Bar mine in Nevada. McEwen also has an interest in the San José mine in Argentina, which has historically produced gold and silver, and is advancing the Los Azules copper project in San Juan Province, Argentina, through its McEwen Copper subsidiary.
McEwen was founded by mining entrepreneur Rob McEwen, who serves as chairman.
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