McEwen Mining (NYSE:MUX) Sets New 1-Year High at $10.87

McEwen Mining Inc (NYSE:MUXGet Free Report) (TSE:MUX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.87 and last traded at $10.74, with a volume of 108655 shares changing hands. The stock had previously closed at $10.80.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. HC Wainwright decreased their price target on McEwen Mining from $18.50 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 4th. TheStreet raised McEwen Mining from a “d” rating to a “c” rating in a report on Friday, March 1st.

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McEwen Mining Price Performance

The business’s 50 day simple moving average is $7.56 and its 200-day simple moving average is $7.26. The stock has a market capitalization of $537.41 million, a price-to-earnings ratio of 9.46 and a beta of 1.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.76.

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

Institutional Trading of McEwen Mining

A number of hedge funds and other institutional investors have recently modified their holdings of MUX. UBS Group AG raised its position in McEwen Mining by 58.7% in the first quarter. UBS Group AG now owns 4,827 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 1,785 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of McEwen Mining by 968.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,950 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 5,393 shares in the last quarter. Citigroup Inc. acquired a new stake in McEwen Mining during the second quarter valued at approximately $45,000. Bank of America Corp DE boosted its holdings in McEwen Mining by 221.4% during the first quarter. Bank of America Corp DE now owns 7,544 shares of the basic materials company’s stock worth $64,000 after buying an additional 5,197 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in McEwen Mining in the third quarter worth approximately $67,000. Institutional investors own 17.03% of the company’s stock.

About McEwen Mining

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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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