McEwen Mining (NYSE:MUX) Price Target Raised to $19.00

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price objective boosted by HC Wainwright from $15.00 to $19.00 in a research report report published on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the basic materials company’s stock.

Separately, StockNews.com upgraded McEwen Mining from a “sell” rating to a “hold” rating in a report on Wednesday.

McEwen Mining Trading Down 3.9 %

MUX stock opened at $8.91 on Thursday. McEwen Mining has a 12 month low of $5.92 and a 12 month high of $12.50. The firm’s 50-day moving average is $9.56 and its 200 day moving average is $9.93. The company has a market capitalization of $471.52 million, a PE ratio of 4.07 and a beta of 1.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 1.21.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) 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 during the quarter, compared to the consensus estimate of $48.60 million. During the same quarter in the prior year, the company earned ($0.39) earnings per share. On average, research analysts anticipate that McEwen Mining will post -0.68 EPS for the current year.

Hedge Funds Weigh In On McEwen Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in McEwen Mining during the first quarter worth $1,348,000. Renaissance Technologies LLC boosted its position in McEwen Mining by 41.3% during the second quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock valued at $1,808,000 after purchasing an additional 57,600 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in McEwen Mining in the first quarter valued at about $1,023,000. GSA Capital Partners LLP bought a new position in McEwen Mining in the first quarter worth about $529,000. Finally, Quantbot Technologies LP lifted its position in shares of McEwen Mining by 130.4% during the first quarter. Quantbot Technologies LP now owns 54,401 shares of the basic materials company’s stock valued at $536,000 after buying an additional 30,788 shares during the last quarter. 17.03% of the stock is currently owned by 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.