McEwen Mining (NYSE:MUX) Upgraded at StockNews.com

McEwen Mining (NYSE:MUX) (TSE:MUX) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other research analysts have also issued reports on MUX. Roth Mkm lowered their target price on shares of 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 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 Stock Down 1.6 %

Shares of NYSE MUX traded down $0.13 during mid-day trading on Friday, reaching $8.39. 480,596 shares of the company traded hands, compared to its average volume of 670,903. The company’s fifty day moving average is $9.49 and its two-hundred day moving average is $9.71. 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 $5.92 and a fifty-two week high of $12.50. The stock has a market cap of $443.78 million, a PE ratio of 3.83 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its 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). 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 period in the previous year, the company earned ($0.39) EPS. On average, analysts expect that McEwen Mining will post -0.68 earnings per share for the current year.

Institutional Trading of McEwen Mining

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC lifted its position in McEwen Mining by 32.3% in the third quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 4,046 shares during the period. Geode Capital Management LLC raised its position in 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 worth $4,383,000 after purchasing an additional 25,844 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in McEwen Mining during the third quarter worth about $176,000. Quarry LP acquired a new stake in McEwen Mining during the third quarter valued at approximately $51,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of McEwen Mining in the 3rd quarter valued at approximately $267,000. 17.03% of the stock is currently owned by institutional investors.

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.