B.Riley FBR analyst Adam Graf maintained a Buy rating on McEwen Mining (MUX) on July 30 and set a price target of $4.40. The company’s shares closed last Monday at $1.37.
According to TipRanks.com, Graf is a 5-star analyst with an average return of 22.6% and a 71.3% success rate. Graf covers the Basic Materials sector, focusing on stocks such as Gold Standard Ventures, First Majestic Silver, and Hecla Mining Company.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for McEwen Mining with a $3.22 average price target, which is a 125.2% upside from current levels. In a report issued on July 17, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.00 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 revenue of $18.29 million and GAAP net loss of $19.81 million. In comparison, last year the company earned revenue of $36.38 million and had a GAAP net loss of $13.01 million.
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McEwen Mining, Inc. is a mining and minerals production and exploration company, which focuses on base metals in Argentina, Mexico and the United States. It operates through the following geographical segments: Mexico, MSC, Nevada, Los Azules, Canada and Other. The company was founded on July 24, 1979 and is headquartered in Toronto, Canada.
