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

StockNews.com lowered shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a hold rating to a sell rating in a report published on Thursday.

A number of other equities analysts also recently issued reports on the company. HC Wainwright lifted their price target on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. 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.

McEwen Mining Trading Up 0.1 %

NYSE MUX opened at $8.42 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50. The business has a 50 day moving average price of $9.53 and a 200-day moving average price of $9.80. The company has a market cap of $445.63 million, a price-to-earnings ratio of 3.84 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). The business had revenue of $52.25 million for the quarter, compared to analyst estimates of $48.60 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. During the same quarter in the previous year, the company posted ($0.39) EPS. As a group, equities analysts expect that McEwen Mining will post -0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On McEwen Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in MUX. Geode Capital Management LLC grew its holdings in shares of McEwen Mining by 5.8% in the third quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock valued at $4,383,000 after acquiring an additional 25,844 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in McEwen Mining in the 3rd quarter valued at $176,000. Quarry LP purchased a new stake in shares of McEwen Mining during the 3rd quarter valued at $51,000. Point72 Asset Management L.P. bought a new stake in shares of McEwen Mining during the 3rd quarter worth $267,000. Finally, Paloma Partners Management Co purchased a new position in shares of McEwen Mining in the 3rd quarter worth about $327,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

About McEwen Mining

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.