McEwen Mining (NYSE:MUX) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of McEwen Mining (NYSE:MUX) (TSE:MUX) in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $18.00 price objective on the basic materials company’s stock.

Separately, StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.

McEwen Mining Price Performance

MUX stock opened at $8.25 on Wednesday. McEwen Mining has a 1 year low of $6.46 and a 1 year high of $12.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The firm has a market capitalization of $436.37 million, a PE ratio of 3.76 and a beta of 1.39. The business has a 50 day simple moving average of $7.76 and a 200-day simple moving average of $8.55.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The company had revenue of $33.52 million during the quarter, compared to analysts’ expectations of $32.20 million. Equities research analysts anticipate that McEwen Mining will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On McEwen Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC purchased a new position in shares of McEwen Mining during the 4th quarter worth $38,000. Quarry LP purchased a new position in McEwen Mining during the third quarter worth about $51,000. Aquatic Capital Management LLC increased its position in shares of McEwen Mining by 357.9% during the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company’s stock valued at $57,000 after acquiring an additional 5,727 shares during the last quarter. Total Wealth Planning & Management Inc. purchased a new stake in shares of McEwen Mining in the 4th quarter valued at approximately $96,000. Finally, Private Advisor Group LLC lifted its holdings in shares of McEwen Mining by 18.8% in the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock worth $98,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 17.03% of the company’s stock.

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.