Key Points
- Director Stephen Douglas Kaszas bought 1,000 McEwen shares for $18.36 each, a total investment of $18,360, increasing his stake by 161% to 1,621 shares.
- McEwen stock fell 3.0% and opened at $17.84, below both its 50-day moving average of $22.38 and 200-day moving average of $22.23.
- The company recently reported earnings per share of $0.66, topping estimates, while analysts currently assign McEwen a Moderate Buy consensus with a $29.83 price target.
McEwen Inc. (NYSE:MUX - Get Free Report) (TSE:MUX) Director Stephen Douglas Kaszas acquired 1,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $18.36 per share, with a total value of $18,360.00. Following the transaction, the director owned 1,621 shares of the company's stock, valued at approximately $29,761.56. This trade represents a 161.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
McEwen Trading Down 3.0%
Shares of McEwen stock opened at $17.84 on Wednesday. The firm has a 50-day simple moving average of $22.38 and a two-hundred day simple moving average of $22.23. The company has a market cap of $1.07 billion, a P/E ratio of 15.12 and a beta of 1.17. McEwen Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $29.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.14.
McEwen (NYSE:MUX - Get Free Report) (TSE:MUX) last issued its quarterly earnings data on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.41. The business had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. McEwen had a net margin of 31.40% and a return on equity of 13.65%. As a group, equities analysts predict that McEwen Inc. will post 1.06 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
MUX has been the subject of a number of research reports. Zacks Research raised shares of McEwen from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. Wall Street Zen cut shares of McEwen from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. HC Wainwright boosted their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a "buy" rating in a research note on Wednesday, March 18th. Roth Mkm boosted their target price on shares of McEwen from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings cut shares of McEwen from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.83.
Read Our Latest Analysis on McEwen
Institutional Trading of McEwen
Several large investors have recently bought and sold shares of MUX. JPMorgan Chase & Co. boosted its holdings in McEwen by 231.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company's stock valued at $11,270,000 after purchasing an additional 460,308 shares during the last quarter. Quantbot Technologies LP boosted its holdings in McEwen by 62.7% in the 3rd quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company's stock valued at $2,254,000 after purchasing an additional 50,778 shares during the last quarter. U S Global Investors Inc. acquired a new position in McEwen in the 4th quarter valued at about $1,857,000. Synergy Asset Management LLC acquired a new position in McEwen in the 4th quarter valued at about $13,547,000. Finally, Brookwood Investment Group LLC acquired a new position in McEwen in the 4th quarter valued at about $559,000. Hedge funds and other institutional investors own 17.03% of the company's stock.
About McEwen
(
Get Free Report)
McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.
The company's flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
