McEwen Mining (NYSE:MUX) Price Target Cut to $12.25 by Analysts at Roth Mkm

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price target lowered by stock analysts at Roth Mkm from $12.75 to $12.25 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Roth Mkm’s price objective would suggest a potential upside of 33.15% from the stock’s previous close.

A number of other analysts also recently issued reports on MUX. HC Wainwright raised their price objective on shares of McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com upgraded shares of McEwen Mining from a “sell” rating to a “hold” rating in a research report on Wednesday.

McEwen Mining Stock Up 1.2 %

Shares of MUX stock traded up $0.11 on Thursday, hitting $9.20. The stock had a trading volume of 334,743 shares, compared to its average volume of 658,910. McEwen Mining has a 12-month low of $5.92 and a 12-month high of $12.50. The business has a 50 day moving average of $9.57 and a 200 day moving average of $9.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21. The stock has a market cap of $469.84 million, a price-to-earnings ratio of 5.01 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data 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 18.08% and a net margin of 46.32%. The company had revenue of $52.25 million for the quarter, compared to analysts’ expectations of $48.60 million. During the same quarter last year, the business posted ($0.39) EPS. As a group, analysts expect that McEwen Mining will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MUX. Fifth Third Bancorp purchased a new position in shares of McEwen Mining in the second quarter worth $32,000. Banque Cantonale Vaudoise bought a new stake in shares of McEwen Mining during the 2nd quarter valued at $78,000. Private Advisor Group LLC bought a new position in McEwen Mining in the 3rd quarter worth about $99,000. Rathbones Group PLC bought a new position in McEwen Mining in the 2nd quarter worth about $101,000. Finally, Paloma Partners Management Co bought a new position in McEwen Mining in the 1st quarter worth about $117,000. 17.03% of the stock is owned by hedge funds and other 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.