McEwen Mining (NYSE:MUX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a sell rating to a hold rating in a report issued on Thursday.

MUX has been the topic of several other research reports. HC Wainwright upped their price objective on McEwen Mining from $13.00 to $15.00 and gave the company a buy rating in a research note on Monday, May 13th. Roth Mkm restated a buy rating and set a $12.00 price objective (up previously from $11.00) on shares of McEwen Mining in a research note on Friday, May 10th. Finally, TheStreet upgraded McEwen Mining from a d rating to a c rating in a research note on Friday, March 1st.

McEwen Mining Trading Up 0.4 %

Shares of MUX opened at $9.18 on Thursday. The company has a market capitalization of $453.57 million, a P/E ratio of 5.60 and a beta of 1.51. 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 0.08, a quick ratio of 0.85 and a current ratio of 1.37. The stock has a 50-day moving average price of $10.91 and a 200 day moving average price of $8.98.

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 during the quarter, compared to analysts’ expectations of $39.80 million. McEwen Mining had a net margin of 44.83% and a return on equity of 16.46%. Sell-side analysts forecast that McEwen Mining will post -0.7 EPS for the current fiscal year.

Insider Transactions at McEwen Mining

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

Hedge Funds Weigh In On McEwen Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in McEwen Mining by 25.2% during the 3rd quarter. Toronto Dominion Bank now owns 25,032 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 5,032 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of McEwen Mining by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after acquiring an additional 6,082 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of McEwen Mining during the 3rd quarter worth $72,000. Paloma Partners Management Co bought a new stake in shares of McEwen Mining during the 1st quarter worth $117,000. Finally, Fifth Third Bancorp bought a new stake in shares of McEwen Mining during the 4th quarter worth $98,000. 17.03% of the stock is owned by institutional investors.

About McEwen Mining

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.