McEwen Mining (NYSE:MUX) Given New $12.50 Price Target at Roth Mkm

McEwen Mining (NYSE:MUX) (TSE:MUX) had its target price cut by Roth Mkm from $13.00 to $12.50 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Other research analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of McEwen Mining in a research report on Wednesday. StockNews.com cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.

McEwen Mining Stock Down 8.2 %

Shares of MUX opened at $7.66 on Friday. The company has a 50-day simple moving average of $7.75 and a 200-day simple moving average of $8.54. The firm has a market capitalization of $405.14 million, a P/E ratio of 3.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. McEwen Mining has a 52 week low of $6.46 and a 52 week high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Friday, March 14th. The basic materials company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $33.52 million for the quarter, compared to analyst estimates of $32.20 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. On average, equities research analysts expect that McEwen Mining will post -0.72 earnings per share for the current year.

Institutional Trading of McEwen Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in McEwen Mining by 66.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock valued at $3,659,000 after acquiring an additional 157,300 shares during the period. Private Advisor Group LLC grew its stake in McEwen Mining by 18.8% during the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock worth $98,000 after buying an additional 2,000 shares during the last quarter. Geode Capital Management LLC grew its stake in McEwen Mining by 5.8% during the third 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 during the last quarter. Empowered Funds LLC bought a new stake in McEwen Mining during the fourth quarter worth about $788,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in McEwen Mining during the third quarter worth about $176,000. 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.