McEwen Mining (NYSE:MUX) (TSE:MUX) had its target price lowered by B. Riley from $4.20 to $3.80 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. B. Riley’s target price suggests a potential upside of 143.59% from the stock’s previous close.

MUX has been the subject of several other research reports. Zacks Investment Research raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. ValuEngine downgraded shares of McEwen Mining from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, HC Wainwright set a $2.80 price objective on shares of McEwen Mining and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. McEwen Mining has a consensus rating of “Buy” and an average target price of $3.50.

MUX traded up $0.03 during mid-day trading on Thursday, hitting $1.56. The stock had a trading volume of 323,080 shares, compared to its average volume of 3,398,854. The stock’s fifty day simple moving average is $1.71 and its 200-day simple moving average is $1.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.90 and a quick ratio of 0.94. The firm has a market capitalization of $557.50 million, a price-to-earnings ratio of -12.00 and a beta of -0.60. McEwen Mining has a 1-year low of $1.23 and a 1-year high of $2.44.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its earnings results on Tuesday, July 30th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.03). The firm had revenue of $36.38 million during the quarter, compared to analyst estimates of $34.92 million. McEwen Mining had a negative return on equity of 11.81% and a negative net margin of 55.09%. As a group, research analysts expect that McEwen Mining will post -0.08 earnings per share for the current fiscal year.

In other news, Director Richard W. Brissenden sold 25,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $2.01, for a total transaction of $50,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in MUX. Tower Research Capital LLC TRC grew its position in McEwen Mining by 150.9% in the second quarter. Tower Research Capital LLC TRC now owns 14,300 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 8,600 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in McEwen Mining in the second quarter valued at $51,000. Pictet Asset Management Ltd. grew its position in McEwen Mining by 50.0% in the second quarter. Pictet Asset Management Ltd. now owns 37,098 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 12,366 shares in the last quarter. Sicart Associates LLC bought a new position in McEwen Mining in the third quarter valued at $91,000. Finally, A.R.T. Advisors LLC bought a new position in McEwen Mining in the second quarter valued at $94,000. 25.42% of the stock is owned by institutional investors and hedge funds.

McEwen Mining Company Profile

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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