McEwen Mining (NYSE:MUX) Share Price Passes Above Two Hundred Day Moving Average of $9.26

McEwen Mining Inc (NYSE:MUX) (TSE:MUX)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.26 and traded as high as $9.57. McEwen Mining shares last traded at $9.11, with a volume of 342,630 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. HC Wainwright raised their target price on shares of McEwen Mining from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Roth Mkm restated a “buy” rating and issued a $12.00 target price (up previously from $11.00) on shares of McEwen Mining in a research report on Friday, May 10th. Finally, StockNews.com lowered shares of McEwen Mining from a “hold” rating to a “sell” rating in a research report on Thursday, July 11th.

McEwen Mining Trading Down 0.8 %

The company has a market cap of $464.85 million, a price-to-earnings ratio of 5.56 and a beta of 1.40. The business’s fifty day moving average price is $10.27 and its 200 day moving average price is $9.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.37 and a quick ratio of 0.85.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.38). The business had revenue of $41.23 million for the quarter, compared to analyst estimates of $39.80 million. McEwen Mining had a return on equity of 16.46% and a net margin of 44.83%. Research analysts anticipate that McEwen Mining Inc will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at McEwen Mining

In related news, CFO Perry Ing sold 23,332 shares of McEwen Mining stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $9.76, for a total transaction of $227,720.32. Following the completion of the transaction, the chief financial officer now owns 15,551 shares of the company’s stock, valued at $151,777.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Carmen L. Diges sold 17,066 shares of McEwen Mining stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $9.44, for a total transaction of $161,103.04. Following the completion of the transaction, the general counsel now directly owns 10,982 shares in the company, valued at $103,670.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Perry Ing sold 23,332 shares of McEwen Mining stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $9.76, for a total transaction of $227,720.32. Following the transaction, the chief financial officer now owns 15,551 shares of the company’s stock, valued at $151,777.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,901 shares of company stock worth $413,353. Company insiders own 17.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MUX. Fifth Third Bancorp purchased a new position in McEwen Mining during the second quarter worth about $32,000. Vanguard Group Inc. boosted its holdings in McEwen Mining by 1.0% during the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after purchasing an additional 6,082 shares during the last quarter. Paloma Partners Management Co purchased a new position in McEwen Mining during the first quarter worth about $117,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in McEwen Mining during the fourth quarter worth about $107,000. Finally, Van ECK Associates Corp boosted its holdings in McEwen Mining by 1.0% during the first quarter. Van ECK Associates Corp now owns 2,050,635 shares of the basic materials company’s stock worth $20,219,000 after purchasing an additional 20,587 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.