McEwen Mining (NYSE:MUX) Price Target Cut to $1.75

McEwen Mining (NYSE:MUX) (TSE:MUX) had its target price reduced by HC Wainwright from $2.00 to $1.75 in a research report released on Monday, BenzingaRatingsTable reports. They currently have a buy rating on the basic materials company’s stock.

Other analysts also recently issued reports about the company. B. Riley lifted their price objective on McEwen Mining from $4.00 to $4.40 and gave the company a buy rating in a report on Tuesday, February 25th. Zacks Investment Research downgraded McEwen Mining from a buy rating to a hold rating in a report on Friday, March 20th. Finally, ValuEngine downgraded McEwen Mining from a buy rating to a hold rating in a report on Saturday, February 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. McEwen Mining presently has an average rating of Buy and a consensus price target of $2.73.

Shares of MUX stock traded down $0.03 on Monday, hitting $0.74. The stock had a trading volume of 3,718,055 shares, compared to its average volume of 4,010,965. The company has a quick ratio of 1.10, a current ratio of 1.88 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $0.96 and a 200 day moving average price of $1.29. The company has a market cap of $316.28 million, a PE ratio of -4.35 and a beta of -0.19. McEwen Mining has a one year low of $0.53 and a one year high of $2.14.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Tuesday, March 17th. The basic materials company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $32.36 million during the quarter, compared to the consensus estimate of $38.26 million. McEwen Mining had a negative net margin of 51.03% and a negative return on equity of 12.17%. Equities research analysts expect that McEwen Mining will post 0.01 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Profund Advisors LLC grew its stake in McEwen Mining by 31.6% in the fourth quarter. Profund Advisors LLC now owns 54,638 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 13,107 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of McEwen Mining by 200.5% during the fourth quarter. Great West Life Assurance Co. Can now owns 19,839 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 13,236 shares during the last quarter. Virtu Financial LLC grew its stake in shares of McEwen Mining by 115.5% during the third quarter. Virtu Financial LLC now owns 27,337 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 14,653 shares during the last quarter. Guild Investment Management Inc. grew its stake in shares of McEwen Mining by 75.0% during the fourth quarter. Guild Investment Management Inc. now owns 35,000 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Islay Capital Management LLC purchased a new stake in shares of McEwen Mining during the fourth quarter worth about $25,000. Institutional investors own 26.18% 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.

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