McEwen Mining (NYSE:MUX) Given New $19.00 Price Target at HC Wainwright

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price objective increased by HC Wainwright from $15.00 to $19.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Separately, StockNews.com upgraded shares of McEwen Mining from a “sell” rating to a “hold” rating in a research report on Wednesday.

McEwen Mining Stock Performance

McEwen Mining stock traded down $0.36 during midday trading on Thursday, hitting $8.91. The company’s stock had a trading volume of 613,175 shares, compared to its average volume of 660,598. McEwen Mining has a 1-year low of $5.92 and a 1-year high of $12.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 1.21. The company has a 50-day moving average price of $9.57 and a two-hundred day moving average price of $9.95. The company has a market cap of $471.52 million, a price-to-earnings ratio of 4.23 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). The business had revenue of $52.25 million during the quarter, compared to analyst estimates of $48.60 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. During the same quarter last year, the firm earned ($0.39) EPS. As a group, sell-side analysts predict that McEwen Mining will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On McEwen Mining

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp bought a new stake in shares of McEwen Mining during the 2nd quarter valued at approximately $32,000. Banque Cantonale Vaudoise bought a new stake in McEwen Mining during the 2nd quarter worth approximately $78,000. Private Advisor Group LLC bought a new stake in McEwen Mining during the 3rd quarter worth approximately $99,000. Rathbones Group PLC bought a new stake in McEwen Mining during the 2nd quarter worth approximately $101,000. Finally, Paloma Partners Management Co bought a new stake in McEwen Mining during the 1st quarter worth approximately $117,000. 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.