McEwen Mining (NYSE:MUX) Price Target Cut to $12.25 by Analysts at Roth Mkm

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price objective dropped by stock analysts at Roth Mkm from $12.75 to $12.25 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Roth Mkm’s price objective points to a potential upside of 33.15% from the company’s previous close.

Several other analysts have also recently weighed in on MUX. HC Wainwright upped their price objective on shares of McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday.

McEwen Mining Stock Performance

Shares of NYSE:MUX traded up $0.11 on Thursday, hitting $9.20. 334,743 shares of the company were exchanged, compared to its average volume of 658,910. The firm has a market capitalization of $469.84 million, a price-to-earnings ratio of 5.01 and a beta of 1.43. The company’s 50 day moving average price is $9.57 and its two-hundred day moving average price is $9.96. McEwen Mining has a one year low of $5.92 and a one year high of $12.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.21 and a current ratio of 1.68.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $52.25 million during the quarter, compared to the consensus estimate of $48.60 million. McEwen Mining had a net margin of 46.32% and a return on equity of 18.08%. During the same period in the previous year, the firm earned ($0.39) EPS. Research analysts expect that McEwen Mining will post -0.73 earnings per share for the current year.

Institutional Trading of McEwen Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC bought a new stake in McEwen Mining in the 1st quarter valued at about $1,348,000. Susquehanna Fundamental Investments LLC bought a new stake in McEwen Mining in the 1st quarter valued at about $1,023,000. Van ECK Associates Corp raised its position in shares of McEwen Mining by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock valued at $19,448,000 after buying an additional 67,885 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of McEwen Mining by 41.3% in the 2nd quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock valued at $1,808,000 after buying an additional 57,600 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of McEwen Mining in the 1st quarter valued at approximately $529,000. Institutional investors 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.