McEwen Mining (MUX) Stock Rating Lowered by TheStreet

TheStreet lowered shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a c- rating to a d+ rating in a research report released on Wednesday.

Several other brokerages also recently commented on MUX. HC Wainwright set a $5.00 target price on McEwen Mining and gave the company a buy rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded McEwen Mining from a strong sell rating to a hold rating in a research note on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $4.00.

MUX stock opened at $1.81 on Wednesday. McEwen Mining has a twelve month low of $1.68 and a twelve month high of $2.55. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.95 and a quick ratio of 1.25. The company has a market cap of $617.22 million, a P/E ratio of -60.33 and a beta of -0.99.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Wednesday, October 31st. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). McEwen Mining had a negative net margin of 17.63% and a negative return on equity of 3.84%. The company had revenue of $26.90 million for the quarter, compared to the consensus estimate of $26.18 million. Equities research analysts forecast that McEwen Mining will post -0.1 earnings per share for the current fiscal year.

In other McEwen Mining news, Director Richard W. Brissenden sold 25,000 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $1.80, for a total transaction of $45,000.00. Following the sale, the director now directly owns 55,000 shares in the company, valued at approximately $99,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 26.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its stake in shares of McEwen Mining by 7.1% in the 2nd quarter. Van ECK Associates Corp now owns 38,017,451 shares of the basic materials company’s stock worth $78,696,000 after buying an additional 2,517,412 shares during the last quarter. BlackRock Inc. boosted its stake in shares of McEwen Mining by 5.3% in the 3rd quarter. BlackRock Inc. now owns 9,956,020 shares of the basic materials company’s stock worth $19,314,000 after buying an additional 501,118 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of McEwen Mining by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,651,569 shares of the basic materials company’s stock worth $9,024,000 after buying an additional 52,559 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of McEwen Mining in the 3rd quarter worth $8,223,000. Finally, Global X Management Co LLC boosted its stake in shares of McEwen Mining by 6.4% in the 2nd quarter. Global X Management Co LLC now owns 4,232,774 shares of the basic materials company’s stock worth $8,762,000 after buying an additional 255,639 shares during the last quarter. Institutional investors and hedge funds own 31.10% of the company’s stock.

McEwen Mining Company Profile

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. The company owns 100% interests in the El Gallo 1 mine and El Gallo 2 project in the state of Sinaloa, Mexico; and the Black Fox Complex, Buffalo Ankerite, Fuller, Davidson Tisdale, and Black Fox North properties in Canada.

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