McEwen Mining (NYSE:MUX) Given Buy Rating at HC Wainwright

McEwen Mining (NYSE:MUX) (TSE:MUX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $18.00 price objective on the basic materials company’s stock. HC Wainwright’s price target would suggest a potential upside of 115.70% from the stock’s previous close.

Separately, StockNews.com lowered McEwen Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th.

McEwen Mining Stock Up 1.3 %

Shares of McEwen Mining stock opened at $8.35 on Wednesday. The business’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $8.55. McEwen Mining has a 52-week low of $6.46 and a 52-week high of $12.50. The firm has a market cap of $441.66 million, a PE ratio of 3.81 and a beta of 1.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The firm had revenue of $33.52 million during the quarter, compared to analyst estimates of $32.20 million. On average, analysts predict that McEwen Mining will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. New Age Alpha Advisors LLC acquired a new position in shares of McEwen Mining during the 4th quarter worth approximately $38,000. Quarry LP acquired a new position in shares of McEwen Mining during the 3rd quarter worth approximately $51,000. Aquatic Capital Management LLC boosted its stake in shares of McEwen Mining by 357.9% during the 4th quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 5,727 shares during the period. Total Wealth Planning & Management Inc. bought a new position in shares of McEwen Mining during the 4th quarter worth approximately $96,000. Finally, Private Advisor Group LLC boosted its stake in shares of McEwen Mining by 18.8% during the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock worth $98,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Mining Company Profile

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.