McEwen Mining price target raised to $23 from $19 at Roth Capital

Roth Capital analyst Joe Reagor raised the firm’s price target on McEwen Mining (MUX) to $23 from $19 and keeps a Buy rating on the shares. The company announced the results of a feasibility study, FS, for McEwen Copper’s Los Azules project in Argentina, which has demonstrated somewhat improved economics compared to the PEA – preliminary economic assessment – and confirmed the project has robust economics, the analyst tells investors in a research note. Roth adds that its higher price target reflects the increased valuation of the site.