McEwen Mining (NYSE:MUX) Stock Price Crosses Above 200 Day Moving Average of $9.01

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.01 and traded as high as $9.82. McEwen Mining shares last traded at $9.72, with a volume of 383,028 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MUX. StockNews.com raised McEwen Mining from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Roth Mkm reissued a “buy” rating and set a $12.00 price target (up previously from $11.00) on shares of McEwen Mining in a report on Friday, May 10th. Finally, 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.

McEwen Mining Trading Up 6.8 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.37 and a quick ratio of 0.85. The firm has a market capitalization of $480.26 million, a price-to-earnings ratio of 5.93 and a beta of 1.40. The business’s 50 day moving average price is $10.77 and its 200-day moving average price is $9.01.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Wednesday, May 8th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.38). The business had revenue of $41.23 million for the quarter, compared to analyst estimates of $39.80 million. McEwen Mining had a return on equity of 16.46% and a net margin of 44.83%. Equities analysts forecast that McEwen Mining Inc will post -0.7 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On McEwen Mining

A number of institutional investors have recently modified their holdings of MUX. Quadrature Capital Ltd purchased a new stake in McEwen Mining in the third quarter valued at approximately $72,000. Paloma Partners Management Co purchased a new stake in shares of McEwen Mining during the 1st quarter valued at $117,000. Fifth Third Bancorp purchased a new position in shares of McEwen Mining in the 4th quarter worth $98,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in McEwen Mining in the fourth quarter valued at $107,000. Finally, Toronto Dominion Bank grew its position in McEwen Mining by 25.2% during the third quarter. Toronto Dominion Bank now owns 25,032 shares of the basic materials company’s stock valued at $163,000 after acquiring an additional 5,032 shares during the period. Institutional investors and hedge funds own 17.03% of the company’s stock.

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.