McEwen Mining Inc. (MUX) Given Consensus Recommendation of “Hold” by Analysts

McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) has been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $5.00.

Several research analysts have recently issued reports on MUX shares. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of McEwen Mining in a report on Wednesday, October 11th. Cantor Fitzgerald started coverage on shares of McEwen Mining in a research note on Thursday, October 26th. They set a “buy” rating for the company. Zacks Investment Research raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, BidaskClub raised shares of McEwen Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th.

Hedge funds have recently added to or reduced their stakes in the stock. Credit Suisse AG lifted its stake in McEwen Mining by 43.6% during the first quarter. Credit Suisse AG now owns 204,374 shares of the basic materials company’s stock valued at $621,000 after purchasing an additional 62,039 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in McEwen Mining by 49.2% during the first quarter. Bank of New York Mellon Corp now owns 254,018 shares of the basic materials company’s stock valued at $772,000 after purchasing an additional 83,797 shares during the last quarter. Alps Advisors Inc. lifted its stake in McEwen Mining by 101.0% during the third quarter. Alps Advisors Inc. now owns 1,216,112 shares of the basic materials company’s stock valued at $2,371,000 after purchasing an additional 610,952 shares during the last quarter. Vanguard Group Inc. lifted its stake in McEwen Mining by 7.2% during the first quarter. Vanguard Group Inc. now owns 3,630,276 shares of the basic materials company’s stock valued at $11,036,000 after purchasing an additional 242,942 shares during the last quarter. Finally, Smith Affiliated Capital Corp. lifted its stake in McEwen Mining by 29.9% during the second quarter. Smith Affiliated Capital Corp. now owns 51,971 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 11,971 shares during the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

McEwen Mining (MUX) traded down $0.03 during trading on Monday, hitting $2.02. 1,197,909 shares of the stock traded hands, compared to its average volume of 1,874,449. McEwen Mining has a twelve month low of $1.88 and a twelve month high of $4.43.

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About McEwen Mining

McEwen Mining Inc is a mining and minerals production and exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. The Company’s segments include Mexico, Minera Santa Cruz SA (MSC), Nevada and Los Azules. The Mexico Operations segment includes properties, such as El Gallo 1 mine and the El Gallo 2 project.

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