McEwen Mining’s (MUX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of McEwen Mining (NYSE:MUX) (TSE:MUX) in a report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $18.00 price objective on the basic materials company’s stock. HC Wainwright also issued estimates for McEwen Mining’s FY2025 earnings at ($0.42) EPS.

Separately, StockNews.com lowered McEwen Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th.

McEwen Mining Trading Down 8.2 %

NYSE MUX opened at $7.66 on Wednesday. McEwen Mining has a 12-month low of $6.46 and a 12-month high of $12.50. The company has a fifty day simple moving average of $7.75 and a two-hundred day simple moving average of $8.54. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The stock has a market cap of $405.14 million, a P/E ratio of 3.50 and a beta of 1.39.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $33.52 million during the quarter, compared to analyst estimates of $32.20 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. On average, analysts forecast that McEwen Mining will post -0.72 earnings per share for the current year.

Institutional Trading of McEwen Mining

Institutional investors have recently added to or reduced their stakes in the stock. Total Wealth Planning & Management Inc. purchased a new stake in shares of McEwen Mining during the fourth quarter worth $96,000. Tidal Investments LLC grew its stake in shares of McEwen Mining by 556.7% during the fourth quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company’s stock worth $7,810,000 after purchasing an additional 850,971 shares in the last quarter. Man Group plc purchased a new position in McEwen Mining in the fourth quarter valued at $450,000. Graham Capital Management L.P. raised its stake in McEwen Mining by 18.5% in the fourth quarter. Graham Capital Management L.P. now owns 89,453 shares of the basic materials company’s stock valued at $696,000 after buying an additional 13,937 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in McEwen Mining during the 4th quarter worth about $2,111,000. Institutional investors and hedge funds 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.