H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on McEwen Mining (MUX) today and set a price target of $2.75. The company’s shares closed last Monday at $1.56.
According to TipRanks.com, Ihle is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.4% and a 29.1% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for McEwen Mining with a $3.48 average price target, representing a 132.0% upside. In a report released yesterday, B.Riley FBR also reiterated a Buy rating on the stock with a $4.20 price target.
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Based on McEwen Mining’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.01 million. In comparison, last year the company had a GAAP net loss of $13.29 million.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MUX in relation to earlier this year.
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