McEwen Mining (NYSE:MUX) Given New $12.50 Price Target at Roth Mkm

McEwen Mining (NYSE:MUX) (TSE:MUX) had its price target cut by research analysts at Roth Mkm from $13.00 to $12.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Roth Mkm’s target price would suggest a potential upside of 57.55% from the stock’s previous close.

Several other analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of McEwen Mining in a research note on Wednesday. StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th.

McEwen Mining Stock Performance

Shares of NYSE MUX traded down $0.41 during midday trading on Friday, reaching $7.93. 321,938 shares of the company were exchanged, compared to its average volume of 724,181. The stock has a market cap of $419.91 million, a P/E ratio of 3.63 and a beta of 1.39. McEwen Mining has a 1 year low of $6.46 and a 1 year high of $12.50. The stock has a fifty day simple moving average of $7.76 and a 200 day simple moving average of $8.55. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The company had revenue of $33.52 million during the quarter, compared to analyst estimates of $32.20 million. On average, research analysts forecast that McEwen Mining will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On McEwen Mining

Several institutional investors have recently made changes to their positions in the stock. New Age Alpha Advisors LLC purchased a new position in shares of McEwen Mining in the 4th quarter valued at about $38,000. Quarry LP acquired a new position in McEwen Mining during the third quarter worth about $51,000. Aquatic Capital Management LLC increased its holdings in McEwen Mining by 357.9% in the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company’s stock valued at $57,000 after buying an additional 5,727 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of McEwen Mining during the 3rd quarter valued at approximately $101,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in shares of McEwen Mining during the 4th quarter worth approximately $96,000. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

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.