In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on McEwen Mining (MUX), with a price target of $2.75. The company’s shares closed last Monday at $1.78.
According to TipRanks.com, Ihle is a 1-star analyst with an average return of -0.3% and a 43.2% 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, implying a 93.3% upside from current levels. In a report issued on September 10, B.Riley FBR also assigned a Buy rating to 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 $5.38 million.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is neutral on the stock.
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