Key Points
- McEwen director Richard Brissenden sold 3,275 shares on June 29 at an average price of $18.13, for proceeds of about $59,376. After the sale, he still held 18,022 shares, cutting his stake by 15.38%.
- The stock traded lower and was down 1.1%, opening Thursday at $17.93. McEwen’s shares have ranged from $9.82 to $29.70 over the past year.
- Analysts remain cautiously positive overall, with four Buy ratings and two Hold ratings, giving the stock a consensus rating of “Moderate Buy” and a consensus price target of $29.83.
McEwen Inc. (NYSE:MUX - Get Free Report) (TSE:MUX) Director Richard Brissenden sold 3,275 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $18.13, for a total value of $59,375.75. Following the transaction, the director directly owned 18,022 shares in the company, valued at $326,738.86. This represents a 15.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
McEwen Trading Down 1.1%
NYSE:MUX opened at $17.93 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. McEwen Inc. has a 12 month low of $9.82 and a 12 month high of $29.70. The company has a market capitalization of $1.07 billion, a P/E ratio of 15.19 and a beta of 1.21. The firm has a fifty day simple moving average of $21.06 and a 200-day simple moving average of $22.27.
Institutional Investors Weigh In On McEwen
Hedge funds have recently added to or reduced their stakes in the business. KBC Group NV acquired a new stake in McEwen in the 1st quarter valued at about $27,000. Leonteq Securities AG purchased a new position in shares of McEwen in the 1st quarter valued at $31,000. Parkside Financial Bank & Trust purchased a new stake in shares of McEwen in the 4th quarter valued at about $37,000. Banque Cantonale Vaudoise purchased a new stake in McEwen in the fourth quarter valued at approximately $40,000. Finally, National Bank of Canada FI raised its position in McEwen by 3,328.3% in the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 3,528 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Roth Mkm lifted their target price on shares of McEwen from $30.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Wall Street Zen downgraded McEwen from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Weiss Ratings lowered shares of McEwen from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Zacks Research raised McEwen from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. Finally, HC Wainwright raised their price target on shares of McEwen from $21.50 to $29.50 and gave the stock a "buy" rating in a report on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, McEwen presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.83.
Read Our Latest Stock Analysis on MUX
McEwen Company Profile
(
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.
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