McEwen Mining (NYSE:MUX) Upgraded to “Hold” at Zacks Investment Research

McEwen Mining (NYSE:MUX) (TSE:MUX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, January 3rd.

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 firms have also commented on MUX. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of McEwen Mining in a research note on Wednesday, October 11th. Cantor Fitzgerald initiated coverage on McEwen Mining in a report on Thursday, October 26th. They set a “buy” rating on the stock. Finally, Roth Capital initiated coverage on McEwen Mining in a report on Monday, December 11th. They issued a “buy” rating and a $3.25 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. McEwen Mining presently has an average rating of “Hold” and a consensus price target of $4.13.

Shares of McEwen Mining (NYSE:MUX) traded up $0.06 during trading on Wednesday, hitting $2.38. The company had a trading volume of 3,813,383 shares, compared to its average volume of 3,020,000. McEwen Mining has a 1 year low of $1.82 and a 1 year high of $4.43. The stock has a market cap of $792.48, a price-to-earnings ratio of -39.67 and a beta of -1.43.

In related news, insider Xavier Ochoa acquired 12,600 shares of the business’s stock in a transaction dated Tuesday, December 26th. The shares were acquired at an average price of $2.36 per share, with a total value of $29,736.00. Following the completion of the transaction, the insider now owns 12,600 shares of the company’s stock, valued at $29,736. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have bought 21,200 shares of company stock worth $47,550 in the last ninety days. Corporate insiders own 26.10% of the company’s stock.

A number of large investors have recently bought and sold shares of MUX. Staley Capital Advisers Inc. increased its holdings in McEwen Mining by 25.1% in the third quarter. Staley Capital Advisers Inc. now owns 5,600,440 shares of the basic materials company’s stock valued at $10,921,000 after buying an additional 1,125,000 shares during the last quarter. Stuyvesant Capital Management boosted its stake in McEwen Mining by 699.9% in the third quarter. Stuyvesant Capital Management now owns 1,035,850 shares of the basic materials company’s stock valued at $2,020,000 after acquiring an additional 906,350 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in McEwen Mining by 44.5% in the third quarter. JPMorgan Chase & Co. now owns 2,492,208 shares of the basic materials company’s stock valued at $5,009,000 after acquiring an additional 766,944 shares in the last quarter. Alps Advisors Inc. boosted its stake in McEwen Mining by 101.0% in 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 acquiring an additional 610,952 shares in the last quarter. Finally, Oppenheimer & Close LLC boosted its stake in McEwen Mining by 54.0% in the third quarter. Oppenheimer & Close LLC now owns 1,727,885 shares of the basic materials company’s stock valued at $3,369,000 after acquiring an additional 606,090 shares in the last quarter. 27.72% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This story was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/01/13/mcewen-mining-mux-lifted-to-hold-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on McEwen Mining (MUX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply