Roth Mkm Has Lowered Expectations for McEwen Mining (NYSE:MUX) Stock Price

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price objective cut by Roth Mkm from $13.00 to $12.50 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Roth Mkm’s price target would indicate a potential upside of 57.55% from the stock’s current price.

Several other analysts also recently issued reports on MUX. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of McEwen Mining in a research report on Wednesday. StockNews.com cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.

McEwen Mining Price Performance

NYSE:MUX traded down $0.41 during mid-day trading on Friday, hitting $7.93. 321,938 shares of the company’s stock traded hands, compared to its average volume of 724,181. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. The company has a market cap of $419.91 million, a PE ratio of 3.63 and a beta of 1.39. The firm’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $8.55. McEwen Mining has a 1 year low of $6.46 and a 1 year high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data on Friday, March 14th. The basic materials company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $33.52 million for the quarter, compared to analyst estimates of $32.20 million. Sell-side analysts expect that McEwen Mining will post -0.72 EPS for the current year.

Hedge Funds Weigh In On McEwen Mining

Institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in McEwen Mining in the 3rd quarter valued at about $166,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of McEwen Mining by 66.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock worth $3,659,000 after acquiring an additional 157,300 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of McEwen Mining in the third quarter worth approximately $230,000. PDT Partners LLC purchased a new stake in McEwen Mining in the third quarter valued at approximately $101,000. Finally, Paloma Partners Management Co acquired a new position in McEwen Mining during the third quarter worth approximately $327,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.