McEwen Mining (NYSE:MUX) Shares Down 0.6%

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) shares were down 0.6% during trading on Friday . The company traded as low as $1.65 and last traded at $1.66, approximately 248,226 shares traded hands during trading. A decline of 93% from the average daily volume of 3,744,790 shares. The stock had previously closed at $1.67.

A number of analysts recently commented on MUX shares. B. Riley started coverage on McEwen Mining in a research report on Tuesday. They set a “buy” rating and a $4.20 price target for the company. HC Wainwright increased their price target on McEwen Mining from $2.50 to $3.50 and gave the company a “buy” rating in a research report on Monday, August 19th. ValuEngine raised McEwen Mining from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Finally, Zacks Investment Research raised McEwen Mining from a “sell” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $3.85.

The firm has a fifty day simple moving average of $1.89 and a two-hundred day simple moving average of $1.65. The firm has a market capitalization of $602.02 million, a P/E ratio of -12.54 and a beta of -0.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.90 and a quick ratio of 0.94.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Tuesday, July 30th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). McEwen Mining had a negative net margin of 55.09% and a negative return on equity of 11.81%. The firm had revenue of $36.38 million for the quarter, compared to the consensus estimate of $34.92 million. On average, research analysts anticipate that McEwen Mining Inc will post -0.06 EPS for the current year.

In other McEwen Mining news, Director Richard W. Brissenden sold 25,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $2.01, for a total transaction of $50,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV bought a new position in shares of McEwen Mining in the first quarter worth $45,000. First Republic Investment Management Inc. boosted its holdings in shares of McEwen Mining by 39.1% in the first quarter. First Republic Investment Management Inc. now owns 35,050 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 9,850 shares during the period. ETF Managers Group LLC boosted its holdings in shares of McEwen Mining by 12.4% in the first quarter. ETF Managers Group LLC now owns 616,366 shares of the basic materials company’s stock worth $925,000 after acquiring an additional 67,842 shares during the period. CIBC World Markets Inc. boosted its holdings in shares of McEwen Mining by 851.2% in the first quarter. CIBC World Markets Inc. now owns 1,017,215 shares of the basic materials company’s stock worth $1,526,000 after acquiring an additional 910,279 shares during the period. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of McEwen Mining by 134.8% in the first quarter. Pictet Asset Management Ltd. now owns 24,732 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 14,200 shares during the period. 25.42% of the stock is owned by institutional investors and hedge funds.

McEwen Mining Company Profile (NYSE:MUX)

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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