McEwen Mining Inc (NYSE:MUX – Get Free Report) (TSE:MUX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $12.27 and last traded at $12.04, with a volume of 205245 shares. The stock had previously closed at $11.94.
Analysts Set New Price Targets
A number of research firms have commented on MUX. TheStreet raised shares of McEwen Mining from a “d” rating to a “c” rating in a research note on Friday, March 1st. HC Wainwright decreased their price objective on shares of McEwen Mining from $18.50 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 4th.
View Our Latest Stock Report on McEwen Mining
McEwen Mining Price Performance
McEwen Mining (NYSE:MUX – Get Free Report) (TSE:MUX) last posted its quarterly earnings results on Thursday, February 29th. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of ($0.32) by $3.22. The business had revenue of $58.68 million during the quarter, compared to analysts’ expectations of $53.00 million. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. On average, equities research analysts forecast that McEwen Mining Inc will post -0.3 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Polunin Capital Partners Ltd acquired a new position in shares of McEwen Mining during the 1st quarter worth $6,730,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in McEwen Mining in the fourth quarter worth $107,000. Dynamic Technology Lab Private Ltd acquired a new position in McEwen Mining during the fourth quarter worth $377,000. Jump Financial LLC raised its holdings in McEwen Mining by 154.0% during the fourth quarter. Jump Financial LLC now owns 74,263 shares of the basic materials company’s stock valued at $535,000 after buying an additional 45,020 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings 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 valued at $14,637,000 after buying an additional 56,698 shares in the last quarter. 17.03% of the stock is owned by institutional investors and hedge funds.
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.
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