MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Holdings in McEwen Mining Inc (NYSE:MUX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 2.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,074,987 shares of the basic materials company’s stock after selling 24,595 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in McEwen Mining were worth $8,363,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Private Advisor Group LLC increased its stake in shares of McEwen Mining by 18.8% in the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock worth $98,000 after buying an additional 2,000 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of McEwen Mining in the fourth quarter worth $38,000. Aquatic Capital Management LLC increased its stake in shares of McEwen Mining by 357.9% in the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company’s stock worth $57,000 after buying an additional 5,727 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of McEwen Mining by 1.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company’s stock worth $3,103,000 after buying an additional 5,800 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of McEwen Mining by 8.8% in the fourth quarter. American Century Companies Inc. now owns 92,346 shares of the basic materials company’s stock worth $718,000 after buying an additional 7,492 shares during the period. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Mining Stock Down 0.2%

Shares of McEwen Mining stock opened at $7.15 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $7.60 and its two-hundred day simple moving average is $7.94. The company has a market cap of $385.74 million, a P/E ratio of 3.26 and a beta of 0.93. McEwen Mining Inc has a 12-month low of $6.38 and a 12-month high of $12.45.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The business had revenue of $35.70 million for the quarter, compared to the consensus estimate of $39.06 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. Research analysts anticipate that McEwen Mining Inc will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. National Bank Financial raised shares of McEwen Mining to a “strong-buy” rating in a research note on Tuesday, April 29th. HC Wainwright decreased their target price on shares of McEwen Mining from $18.00 to $15.50 and set a “buy” rating on the stock in a research note on Friday, May 9th. Roth Mkm decreased their target price on shares of McEwen Mining from $13.00 to $12.50 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, StockNews.com raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a research report on Wednesday.

McEwen Mining Profile

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.