Key Points
- McEwen VP Stephan Michael Spears sold 12,600 shares on Sept. 19 at an average price of $14.35 for $180,810, reducing his ownership by 76.76% to 3,814 shares, per an SEC filing.
- Recent earnings missed expectations — EPS $(0.01) vs. $0.31 consensus and revenue $50.53M vs. $60.0M — and the stock traded around $17.73 with a market cap of about $965.7M.
- Analyst and institutional backdrop: MarketBeat shows a consensus rating of "Moderate Buy" with a $20.50 average target (individual targets up to $25), while institutional investors have been adding shares and currently own about 17.03% of the stock.
McEwen Inc. (NYSE:MUX - Get Free Report) (TSE:MUX) VP Stephan Michael Spears sold 12,600 shares of McEwen stock in a transaction on Friday, September 19th. The stock was sold at an average price of $14.35, for a total value of $180,810.00. Following the sale, the vice president owned 3,814 shares in the company, valued at $54,730.90. This trade represents a 76.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
McEwen Stock Performance
NYSE MUX traded down $0.06 during trading hours on Thursday, reaching $17.73. 164,884 shares of the company were exchanged, compared to its average volume of 1,097,710. The stock has a market capitalization of $965.71 million, a P/E ratio of -70.82 and a beta of 0.97. The company has a quick ratio of 1.82, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. McEwen Inc. has a 1 year low of $6.38 and a 1 year high of $24.88. The business's 50 day simple moving average is $17.47 and its 200-day simple moving average is $12.62.
McEwen (NYSE:MUX - Get Free Report) (TSE:MUX) last released its earnings results on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.32). The company had revenue of $50.53 million for the quarter, compared to the consensus estimate of $60.00 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. On average, equities research analysts expect that McEwen Inc. will post -0.72 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts recently commented on MUX shares. Roth Capital set a $23.00 price target on shares of McEwen in a research note on Thursday, October 9th. HC Wainwright increased their target price on McEwen from $17.00 to $21.50 and gave the stock a "buy" rating in a research report on Friday, October 10th. Canaccord Genuity Group set a $25.00 price objective on McEwen and gave the company a "buy" rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of McEwen in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, McEwen has an average rating of "Moderate Buy" and a consensus target price of $20.50.
Check Out Our Latest Research Report on McEwen
Hedge Funds Weigh In On McEwen
A number of institutional investors have recently added to or reduced their stakes in MUX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of McEwen by 38.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company's stock worth $33,515,000 after purchasing an additional 541,890 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in McEwen by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company's stock worth $21,982,000 after buying an additional 15,439 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in McEwen in the first quarter worth approximately $6,925,000. Vanguard Group Inc. grew its position in McEwen by 3.1% during the third quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company's stock valued at $15,122,000 after acquiring an additional 26,846 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of McEwen by 4.0% in the 2nd quarter. Tidal Investments LLC now owns 846,440 shares of the basic materials company's stock valued at $8,134,000 after purchasing an additional 32,218 shares in the last quarter. 17.03% of the stock is currently owned by institutional investors.
About McEwen
(
Get Free Report)
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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