McEwen Mining (NYSE:MUX) Cut to Sell at StockNews.com

McEwen Mining (NYSE:MUX) (TSE:MUX) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Saturday.

MUX has been the subject of several other research reports. Roth Mkm decreased their price target on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a report on Thursday, November 7th. HC Wainwright boosted their price objective on McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

McEwen Mining Trading Up 1.7 %

Shares of McEwen Mining stock opened at $8.36 on Friday. The stock has a fifty day simple moving average of $9.41 and a 200 day simple moving average of $9.63. McEwen Mining has a 12-month low of $5.92 and a 12-month high of $12.50. The company has a market capitalization of $442.41 million, a P/E ratio of 3.82 and a beta of 1.43. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $52.25 million for the quarter, compared to the consensus estimate of $48.60 million. During the same quarter last year, the company posted ($0.39) EPS. On average, sell-side analysts anticipate that McEwen Mining will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new position in McEwen Mining in the second quarter worth $32,000. Quarry LP purchased a new position in shares of McEwen Mining during the 3rd quarter valued at $51,000. Banque Cantonale Vaudoise purchased a new position in shares of McEwen Mining during the 2nd quarter valued at $78,000. Private Advisor Group LLC purchased a new position in shares of McEwen Mining during the 3rd quarter valued at $99,000. Finally, PDT Partners LLC purchased a new position in shares of McEwen Mining during the 3rd quarter valued at $101,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Mining 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.