McEwen Mining (NYSE:MUX) Trading 5.5% Higher

McEwen Mining Inc (NYSE:MUXGet Free Report) (TSE:MUX)’s share price rose 5.5% during trading on Monday . The stock traded as high as $10.45 and last traded at $10.40. Approximately 355,326 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 605,609 shares. The stock had previously closed at $9.86.

Analysts Set New Price Targets

MUX has been the topic of several recent analyst reports. TheStreet raised McEwen Mining from a “d” rating to a “c” rating in a research note on Friday, March 1st. HC Wainwright decreased their price target on McEwen Mining from $18.50 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 4th.

View Our Latest Report on MUX

McEwen Mining Price Performance

The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 0.08. The stock has a market cap of $537.91 million, a PE ratio of 9.47 and a beta of 1.53. The company has a fifty day moving average of $7.56 and a 200-day moving average of $7.26.

McEwen Mining (NYSE:MUXGet Free Report) (TSE:MUX) last posted its quarterly earnings data on Thursday, February 29th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $3.22. The firm had revenue of $58.68 million for the quarter, compared to the consensus estimate of $53.00 million. McEwen Mining had a return on equity of 19.20% and a net margin of 32.92%. Sell-side analysts expect that McEwen Mining Inc will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On McEwen Mining

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of McEwen Mining by 11.1% in the 1st quarter. BlackRock Inc. now owns 9,331,628 shares of the basic materials company’s stock valued at $7,854,000 after buying an additional 930,532 shares during the period. Vanguard Group Inc. increased its holdings in McEwen Mining by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 6,406,958 shares of the basic materials company’s stock worth $5,393,000 after purchasing an additional 86,204 shares during the period. Van ECK Associates Corp increased its holdings in McEwen Mining by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 2,030,048 shares of the basic materials company’s stock worth $14,637,000 after purchasing an additional 56,698 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in McEwen Mining by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,957,476 shares of the basic materials company’s stock worth $1,648,000 after purchasing an additional 47,610 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in McEwen Mining by 428.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,421,300 shares of the basic materials company’s stock worth $1,196,000 after purchasing an additional 1,152,200 shares during the period. Hedge funds and other institutional investors own 17.03% of the company’s stock.

About McEwen Mining

(Get Free Report)

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.

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