McEwen Mining (NYSE:MUX) Trading 6.1% Higher

McEwen Mining Inc (NYSE:MUX) (TSE:MUX)’s stock price rose 6.1% during trading on Thursday . The company traded as high as $11.79 and last traded at $11.59. Approximately 1,048,373 shares traded hands during mid-day trading, an increase of 51% from the average daily volume of 694,668 shares. The stock had previously closed at $10.92.

Wall Street Analysts Forecast Growth

MUX has been the topic of a number of research reports. HC Wainwright dropped their price objective on McEwen Mining from $18.50 to $13.00 and set a “buy” rating on the stock in a report on Monday, March 4th. TheStreet upgraded McEwen Mining from a “d” rating to a “c” rating in a report on Friday, March 1st.

McEwen Mining Stock Up 9.3 %

The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $590.31 million, a P/E ratio of 10.47 and a beta of 1.53. The firm has a 50-day moving average price of $8.96 and a two-hundred day moving average price of $7.77.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Thursday, February 29th. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $3.22. McEwen Mining had a return on equity of 19.20% and a net margin of 32.92%. The company had revenue of $58.68 million during the quarter, compared to analysts’ expectations of $53.00 million. Equities research analysts anticipate that McEwen Mining Inc will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stonehage Fleming Financial Services Holdings Ltd bought a new position in McEwen Mining in the fourth quarter worth $107,000. Dynamic Technology Lab Private Ltd bought a new position in McEwen Mining in the fourth quarter worth $377,000. Jump Financial LLC lifted its position in McEwen Mining by 154.0% in the fourth quarter. Jump Financial LLC now owns 74,263 shares of the basic materials company’s stock worth $535,000 after purchasing an additional 45,020 shares during the period. Van ECK Associates Corp raised its stake in McEwen Mining by 2.9% during the fourth quarter. Van ECK Associates Corp now owns 2,030,048 shares of the basic materials company’s stock worth $14,637,000 after acquiring an additional 56,698 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in McEwen Mining by 2.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,063,345 shares of the basic materials company’s stock worth $7,667,000 after acquiring an additional 22,231 shares in the last quarter. 17.03% of the stock is owned by institutional investors.

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.