McEwen Mining (NYSE:MUX) Lowered to “Sell” Rating by StockNews.com

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

Several other research firms have also recently issued reports on MUX. Roth Mkm reduced their target price on McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright lifted their price target on shares of McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

McEwen Mining Trading Up 1.1 %

Shares of McEwen Mining stock traded up $0.09 on Thursday, hitting $8.50. The stock had a trading volume of 415,072 shares, compared to its average volume of 665,194. 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 one year low of $5.92 and a one year high of $12.50. The stock’s 50-day simple moving average is $9.53 and its two-hundred day simple moving average is $9.85. The stock has a market cap of $449.82 million, a price-to-earnings ratio of 3.93 and a beta of 1.43.

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 analysts’ consensus estimates of $0.04 by ($0.08). The firm had revenue of $52.25 million during the quarter, compared to the consensus estimate of $48.60 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. During the same period last year, the business earned ($0.39) EPS. As a group, sell-side analysts predict that McEwen Mining will post -0.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC purchased a new stake in McEwen Mining in the first quarter worth $1,348,000. Renaissance Technologies LLC boosted its holdings in shares of McEwen Mining by 41.3% during the 2nd quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock valued at $1,808,000 after buying an additional 57,600 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of McEwen Mining in the 3rd quarter worth about $99,000. Van ECK Associates Corp grew its position in shares of McEwen Mining by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock worth $19,448,000 after buying an additional 67,885 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of McEwen Mining by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after acquiring an additional 6,082 shares in the last quarter. 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.