McEwen Mining (NYSE:MUX) Price Target Lowered to $12.25 at Roth Mkm

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price target decreased by Roth Mkm from $12.75 to $12.25 in a research report sent to investors on Thursday,Benzinga reports. Roth Mkm currently has a buy rating on the basic materials company’s stock.

Several other brokerages have also recently issued reports on MUX. StockNews.com upgraded McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday. HC Wainwright boosted their target price on McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday.

McEwen Mining Trading Down 3.9 %

McEwen Mining stock traded down $0.36 during midday trading on Thursday, reaching $8.91. 609,806 shares of the stock traded hands, compared to its average volume of 660,598. The company has a 50-day simple moving average of $9.57 and a two-hundred day simple moving average of $9.95. McEwen Mining has a 12-month low of $5.92 and a 12-month high of $12.50. The firm has a market cap of $471.52 million, a PE ratio of 4.23 and a beta of 1.43. The company has a current ratio of 1.17, a quick ratio of 1.21 and a debt-to-equity ratio of 0.06.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The firm had revenue of $52.25 million for the quarter, compared to analysts’ expectations of $48.60 million. During the same quarter last year, the business earned ($0.39) earnings per share. Research analysts expect that McEwen Mining will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp purchased a new stake in shares of McEwen Mining in the second quarter valued at approximately $32,000. Vanguard Group Inc. boosted its position 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 in the last quarter. Banque Cantonale Vaudoise purchased a new stake in McEwen Mining during the second quarter worth $78,000. Private Advisor Group LLC purchased a new stake in McEwen Mining during the third quarter worth $99,000. Finally, Rathbones Group PLC purchased a new stake in McEwen Mining during the second quarter worth $101,000. 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.