McEwen Mining’s (MUX) “Buy” Rating Reaffirmed at HC Wainwright

McEwen Mining Inc. (NYSE:MUX) (TSE:MUX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Wednesday. They presently have a $5.00 price target on the basic materials company’s stock. HC Wainwright’s price target points to a potential upside of 139.23% from the company’s previous close.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded McEwen Mining from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub upgraded McEwen Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. TheStreet upgraded McEwen Mining from a “d+” rating to a “c” rating in a research note on Friday, June 16th. Finally, ValuEngine downgraded McEwen Mining from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $5.00.

McEwen Mining (NYSE:MUX) opened at 2.09 on Wednesday. McEwen Mining has a 12 month low of $1.94 and a 12 month high of $4.43. The stock’s market capitalization is $652.66 million. The firm has a 50-day moving average price of $2.32 and a 200 day moving average price of $2.63.

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Institutional investors and hedge funds have recently modified their holdings of the company. Karp Capital Management Corp purchased a new stake in shares of McEwen Mining in the first quarter worth about $110,000. D L Carlson Investment Group Inc. boosted its stake in shares of McEwen Mining by 107.8% in the second quarter. D L Carlson Investment Group Inc. now owns 38,588 shares of the basic materials company’s stock worth $101,000 after buying an additional 20,018 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of McEwen Mining by 0.9% in the second quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock worth $103,000 after buying an additional 366 shares during the last quarter. Level Four Advisory Services LLC boosted its stake in shares of McEwen Mining by 0.3% in the first quarter. Level Four Advisory Services LLC now owns 39,260 shares of the basic materials company’s stock worth $126,000 after buying an additional 100 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in shares of McEwen Mining in the first quarter worth about $125,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

McEwen Mining Company Profile

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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