McEwen Mining (NYSE:MUX) Price Target Lowered to $12.50 at Roth Mkm

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price objective decreased by equities research analysts at Roth Mkm from $13.00 to $12.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Roth Mkm’s target price points to a potential upside of 63.29% from the stock’s previous close.

Several other research analysts also recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of McEwen Mining in a research note on Wednesday. StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.

McEwen Mining Trading Down 8.2 %

Shares of MUX opened at $7.66 on Friday. The firm has a market cap of $412.87 million, a price-to-earnings ratio of 3.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. McEwen Mining has a fifty-two week low of $6.46 and a fifty-two week high of $12.50. The firm has a 50 day moving average price of $7.75 and a 200-day moving average price of $8.54.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its stake in shares of McEwen Mining by 556.7% in the 4th quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company’s stock worth $7,810,000 after acquiring an additional 850,971 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of McEwen Mining by 369.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company’s stock worth $4,331,000 after acquiring an additional 438,088 shares in the last quarter. U S Global Investors Inc. bought a new position in shares of McEwen Mining in the 4th quarter worth about $2,557,000. Bridgeway Capital Management LLC bought a new position in shares of McEwen Mining in the 4th quarter worth about $2,111,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of McEwen Mining by 66.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock worth $3,659,000 after acquiring an additional 157,300 shares in the last quarter. 17.03% of the stock is owned by hedge funds and other institutional investors.

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.