McEwen Mining (NYSE:MUX) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a buy rating to a hold rating in a report published on Monday, February 4th.

A number of other equities research analysts have also commented on MUX. Zacks Investment Research upgraded McEwen Mining from a strong sell rating to a hold rating in a research report on Tuesday, October 30th. HC Wainwright set a $5.00 price target on McEwen Mining and gave the stock a buy rating in a research report on Friday, October 12th. Finally, TheStreet lowered McEwen Mining from a c- rating to a d+ rating in a research report on Wednesday, November 21st.

Shares of MUX stock traded down $0.09 during trading hours on Monday, hitting $1.72. The company had a trading volume of 3,186,999 shares, compared to its average volume of 1,944,429. McEwen Mining has a 12 month low of $1.62 and a 12 month high of $2.52. The firm has a market cap of $693.31 million, a P/E ratio of -13.23 and a beta of -0.61. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.11.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Thursday, February 21st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $26.46 million during the quarter, compared to the consensus estimate of $18.03 million. McEwen Mining had a negative net margin of 35.32% and a negative return on equity of 8.53%. Sell-side analysts forecast that McEwen Mining will post -0.03 EPS for the current year.

The company also recently disclosed a semiannual dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 8th will be given a $0.005 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a yield of 0.5%. McEwen Mining’s payout ratio is -7.69%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp lifted its stake in shares of McEwen Mining by 1.3% in the 4th quarter. Van ECK Associates Corp now owns 41,167,706 shares of the basic materials company’s stock valued at $74,925,000 after purchasing an additional 545,898 shares during the period. BlackRock Inc. lifted its stake in shares of McEwen Mining by 5.3% in the 3rd quarter. BlackRock Inc. now owns 9,956,020 shares of the basic materials company’s stock valued at $19,314,000 after purchasing an additional 501,118 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of McEwen Mining by 12.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,751,238 shares of the basic materials company’s stock valued at $8,647,000 after purchasing an additional 512,703 shares during the period. Vanguard Group Inc lifted its stake in shares of McEwen Mining by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 4,651,569 shares of the basic materials company’s stock valued at $9,024,000 after purchasing an additional 52,559 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of McEwen Mining by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,651,569 shares of the basic materials company’s stock valued at $9,024,000 after purchasing an additional 52,559 shares during the period. Hedge funds and other institutional investors own 30.13% of the company’s stock.

McEwen Mining Company Profile

McEwen Mining, Inc is a mining and minerals production and exploration company, which focuses on base metals in Argentina, Mexico and the United States. It operates through the following geographical segments: Mexico, MSC, Nevada, Los Azules, Canada and Other. The company was founded on July 24, 1979 and is headquartered in Toronto, Canada.

Featured Story: How to Invest in the Dividend Aristocrat Index

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for McEwen Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McEwen Mining and related companies with MarketBeat.com's FREE daily email newsletter.