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

McEwen Mining (NYSE:MUX) (TSE:MUX) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts also recently weighed in on the stock. HC Wainwright boosted 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 dropped their price target on McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research report on Thursday, November 7th.

McEwen Mining Price Performance

Shares of MUX opened at $8.36 on Friday. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50. 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 firm has a market cap of $442.41 million, a price-to-earnings ratio of 3.82 and a beta of 1.43. The stock has a 50 day moving average of $9.39 and a 200-day moving average of $9.61.

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 analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $52.25 million during the quarter, compared to analyst estimates of $48.60 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. During the same period in the prior year, the firm earned ($0.39) EPS. As a group, analysts forecast that McEwen Mining will post -0.68 EPS for the current year.

Institutional Trading of McEwen Mining

Large investors have recently modified their holdings of the company. Tidal Investments LLC grew its position in McEwen Mining by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 152,859 shares of the basic materials company’s stock worth $1,422,000 after purchasing an additional 2,632 shares during the last quarter. Virtu Financial LLC boosted its position in shares of McEwen Mining by 32.3% during the third quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock worth $154,000 after buying an additional 4,046 shares during the period. Geode Capital Management LLC grew its holdings in McEwen Mining by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock worth $4,383,000 after buying an additional 25,844 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in McEwen Mining in the 3rd quarter valued at approximately $176,000. Finally, Quarry LP bought a new stake in McEwen Mining during the 3rd quarter valued at $51,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

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.