MUX Price Target Surges 20.80% to $27.85—What Analysts and Institutions Reveal

McEwen Mining (NYSE: MUX) is attracting serious attention from the investment community. Analysts have collectively raised their one-year price target to $27.85 per share, representing a significant 20.80% jump from the previous consensus of $23.05 established in mid-January 2026. This upward revision suggests growing confidence in the gold mining company’s prospects, even as the stock currently trades near $23.45, implying roughly 18.75% upside potential from current levels.

The breadth of analyst opinion reveals a wide range of expectations. Price targets span from a cautious $21.72 on the low end to an ambitious $34.65 on the high end, indicating that while many see substantial gains ahead, opinions remain divided on just how far MUX could climb. The average consensus—pulling all these targets together—has edged higher, signaling a subtle but meaningful shift in market perception.

Institutional Firepower: Growing Conviction in MUX

Institutional confidence in MUX appears to be strengthening. Approximately 170 funds and institutions currently hold positions in the stock, though this represents a slight decline of 4 owners compared to the previous quarter. However, the numbers tell a more nuanced story. Institutions have actually increased their total share count by 9.98% over the past three months, reaching nearly 30 million shares. Their average portfolio allocation to MUX sits at 0.09% of total assets under management—itself up 1.46% quarter-over-quarter.

Perhaps most tellingly, the put/call ratio for MUX stands at 0.40, a strongly bullish signal. This metric measures the balance between bearish put options and bullish call options in the market. A ratio below 1.0 indicates that traders are overwhelmingly betting on upside movement, suggesting optimism about near-term price action.

Major Market Players Make Strategic Moves

The biggest institutional shareholders are actively adjusting their MUX positions, painting a picture of selective buying and tactical rebalancing:

MIRAE ASSET GLOBAL ETFS HOLDINGS now holds 1.96 million shares (3.58% ownership). The firm boosted its stake by 27.65% from its prior filing, though it reduced the weight of MUX within its broader portfolio allocation by 10.23% over the quarter—a sign of profit-taking after strong gains.

Van Eck Associates maintains 1.66 million shares (3.03% ownership). Interestingly, this firm trimmed its absolute share count by 3.66% while simultaneously increasing its portfolio weight allocation by 40.89%, suggesting a strategic shift toward higher conviction positions in other holdings.

GDXJ—VanEck Vectors Junior Gold Miners ETF holds 1.51 million shares (2.77% ownership). The fund cut its MUX position by 13.46% from prior levels but still raised its portfolio weighting by 9.25%, indicating selective rebalancing within the junior gold mining sector.

UBS Group has accumulated 1.39 million shares (2.54% ownership), marking a 25.24% increase from its previous filing. Yet the banking giant reduced MUX’s weight in its portfolio by 73.11% quarter-over-quarter—the most dramatic de-weighting among major holders.

XME—SPDR S&P Metals & Mining ETF rounds out the top five with 1.29 million shares (2.35% ownership), up 23.68% sequentially. The ETF increased its MUX allocation by 37.95% over the period, suggesting solid confidence in mining sector exposure.

What the Data Suggests

The divergence between rising share counts and declining or mixed portfolio weights highlights the complex calculus of institutional investors. Many are still accumulating MUX shares, yet they’re simultaneously rebalancing to maintain disciplined position sizes as the stock appreciates. The analyst price target upgrade to $27.85 and the bullish options market sentiment both point toward genuine institutional conviction—even if individual fund managers are being selective about how much MUX exposure they want to carry forward.