Zacks Investment Research downgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a hold rating to a sell rating in a research note released on Wednesday.
According to Zacks, “U.S. GOLD CORP. is primarily engaged in the precious metal mining business in the continental United States, however, it may also evaluate properties outside the United States. “
Several other research analysts have also recently issued reports on MUX. HC Wainwright set a $4.00 price target on McEwen Mining and gave the company a buy rating in a report on Wednesday, January 16th. ValuEngine cut McEwen Mining from a buy rating to a hold rating in a report on Monday, February 4th. Finally, TheStreet cut McEwen Mining from a c- rating to a d+ rating in a report on Wednesday, November 21st.
NYSE MUX opened at $1.72 on Wednesday. McEwen Mining has a 1 year low of $1.62 and a 1 year high of $2.52. 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 posted its quarterly earnings results on Thursday, February 21st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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%. Equities analysts anticipate that McEwen Mining will post -0.03 earnings per share for the current fiscal year.
The business also recently declared a semiannual dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 8th will be issued a $0.005 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a dividend yield of 0.5%. McEwen Mining’s dividend payout ratio is currently -7.69%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. PEAK6 Investments LLC purchased a new position in McEwen Mining during the 4th quarter worth approximately $30,000. Virtu Financial LLC grew its position in McEwen Mining by 36.5% during the 4th quarter. Virtu Financial LLC now owns 32,968 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 8,821 shares in the last quarter. GSA Capital Partners LLP grew its position in McEwen Mining by 393.6% during the 4th quarter. GSA Capital Partners LLP now owns 60,674 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 48,383 shares in the last quarter. Toronto Dominion Bank grew its position in McEwen Mining by 147.1% during the 4th quarter. Toronto Dominion Bank now owns 64,000 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 38,102 shares in the last quarter. Finally, IndexIQ Advisors LLC grew its position in McEwen Mining by 102.3% during the 3rd quarter. IndexIQ Advisors LLC now owns 78,336 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 39,620 shares in the last quarter. 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.
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