McEwen Mining (NYSE:MUX) Cut to Sell at StockNews.com

StockNews.com downgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a hold rating to a sell rating in a research report released on Saturday.

A number of other research analysts also recently weighed in on MUX. HC Wainwright increased their price objective on shares of McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Roth Mkm decreased their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research note on Thursday, November 7th.

McEwen Mining Stock Performance

Shares of MUX opened at $8.34 on Friday. McEwen Mining has a 12 month low of $5.92 and a 12 month high of $12.50. The business’s fifty day simple moving average is $9.39 and its two-hundred day simple moving average is $9.60. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The company has a market cap of $441.35 million, a price-to-earnings ratio of 3.79 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). The business 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 quarter in the previous year, the business posted ($0.39) earnings per share. Research analysts anticipate that McEwen Mining will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of McEwen Mining

Large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new position in shares of McEwen Mining during the 2nd quarter worth $32,000. Quarry LP purchased a new stake in shares of McEwen Mining in the 3rd quarter worth $51,000. Banque Cantonale Vaudoise bought a new position in McEwen Mining in the 2nd quarter worth $78,000. Private Advisor Group LLC purchased a new position in McEwen Mining during the third quarter valued at $99,000. Finally, Rathbones Group PLC bought a new stake in McEwen Mining during the second quarter valued at about $101,000. 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.