McEwen Inc. (NYSE:MUX) Receives $25.50 Consensus PT from Brokerages

by · The Markets Daily

McEwen Inc. (NYSE:MUX – Get Free Report) (TSE:MUX) has been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $25.50.

A number of equities research analysts have commented on the stock. Roth Mkm restated a “buy” rating and set a $30.00 target price (up previously from $23.00) on shares of McEwen in a research note on Friday, January 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 29th.

Get Our Latest Analysis on MUX

Hedge Funds Weigh In On McEwen

Several large investors have recently made changes to their positions in MUX. Synergy Asset Management LLC purchased a new position in McEwen during the 4th quarter valued at approximately $13,547,000. Royal Bank of Canada grew its holdings in shares of McEwen by 4,309.4% in the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock valued at $4,823,000 after purchasing an additional 624,382 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in McEwen by 38.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock worth $33,515,000 after purchasing an additional 541,890 shares during the last quarter. JPMorgan Chase & Co. increased its position in McEwen by 231.6% in the third quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock worth $11,270,000 after purchasing an additional 460,308 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in McEwen by 210.0% during the third quarter. BNP Paribas Financial Markets now owns 640,739 shares of the basic materials company’s stock valued at $10,957,000 after purchasing an additional 434,065 shares in the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

McEwen Price Performance

Shares of McEwen stock opened at $25.69 on Wednesday. The stock has a market cap of $1.40 billion, a P/E ratio of -116.76 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.58 and a current ratio of 2.10. The stock’s fifty day moving average is $22.18 and its 200 day moving average is $17.77. McEwen has a one year low of $6.38 and a one year high of $29.70.

McEwen Company Profile

(Get Free Report)

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.

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