McEwen Mining (NYSE:MUX) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

Several other research analysts have also recently commented on the company. HC Wainwright reduced their target price on McEwen Mining from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Roth Mkm reduced their price objective on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a report on Thursday, November 7th.

McEwen Mining Price Performance

Shares of MUX stock opened at $7.16 on Wednesday. The stock has a 50 day moving average of $8.04 and a two-hundred day moving average of $8.77. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. McEwen Mining has a 12 month low of $5.92 and a 12 month high of $12.50. The company has a market capitalization of $378.64 million, a P/E ratio of 3.27 and a beta of 1.42.

Hedge Funds Weigh In On McEwen Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in shares of McEwen Mining by 556.7% during the fourth quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company’s stock valued at $7,810,000 after acquiring an additional 850,971 shares during the period. Dimensional Fund Advisors LP lifted its holdings in McEwen Mining by 369.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company’s stock valued at $4,331,000 after purchasing an additional 438,088 shares during the last quarter. U S Global Investors Inc. bought a new position in McEwen Mining during the 4th quarter valued at about $2,557,000. Bridgeway Capital Management LLC bought a new position in McEwen Mining during the 4th quarter valued at about $2,111,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in McEwen Mining by 66.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock valued at $3,659,000 after purchasing an additional 157,300 shares during the last quarter. Institutional investors own 17.03% of the company’s stock.

About McEwen Mining

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.