McEwen Mining (NYSE:MUX) Share Price Passes Above Two Hundred Day Moving Average of $9.26

Shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.26 and traded as high as $9.57. McEwen Mining shares last traded at $9.11, with a volume of 342,630 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MUX shares. StockNews.com downgraded McEwen Mining from a “hold” rating to a “sell” rating in a research report on Thursday, July 11th. HC Wainwright lifted their price objective on McEwen Mining from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $12.00 price objective (up from $11.00) on shares of McEwen Mining in a report on Friday, May 10th.

McEwen Mining Stock Down 0.8 %

The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $10.27 and a two-hundred day simple moving average of $9.28. The company has a market capitalization of $464.85 million, a price-to-earnings ratio of 5.56 and a beta of 1.40.

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

Insider Transactions at McEwen Mining

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp bought a new position in McEwen Mining in the 2nd quarter worth approximately $32,000. Paloma Partners Management Co bought a new position in McEwen Mining in the 1st quarter worth approximately $117,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in McEwen Mining in the 4th quarter worth approximately $107,000. Dynamic Technology Lab Private Ltd bought a new position in McEwen Mining in the 4th quarter worth approximately $377,000. Finally, GSA Capital Partners LLP bought a new position in McEwen Mining in the 1st quarter worth approximately $529,000. 17.03% of the stock is owned by institutional investors and hedge funds.

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.