North Star Investment Management Corp. Increases Holdings in McEwen Inc. $MUX

North Star Investment Management Corp. grew its position in McEwen Inc. (NYSE:MUX) (TSE:MUX) by 6,081.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,000 shares of the basic materials company’s stock after buying an additional 66,900 shares during the quarter. North Star Investment Management Corp. owned 0.11% of McEwen worth $1,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of McEwen by 231.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock valued at $11,270,000 after acquiring an additional 460,308 shares during the period. Quantbot Technologies LP lifted its position in McEwen by 62.7% during the 3rd quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company’s stock worth $2,254,000 after acquiring an additional 50,778 shares during the period. U S Global Investors Inc. acquired a new stake in McEwen during the 4th quarter worth about $1,857,000. Synergy Asset Management LLC purchased a new stake in McEwen during the 4th quarter valued at about $13,547,000. Finally, Brookwood Investment Group LLC purchased a new stake in McEwen during the 4th quarter valued at about $559,000. Institutional investors own 17.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MUX. Weiss Ratings cut McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. HC Wainwright raised their price target on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Roth Mkm upped their price objective on shares of McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Finally, Wall Street Zen lowered shares of McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.83.

McEwen Trading Down 0.1%

McEwen stock opened at $17.98 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. McEwen Inc. has a 12 month low of $9.25 and a 12 month high of $29.70. The stock’s 50 day simple moving average is $21.38 and its two-hundred day simple moving average is $22.28. The firm has a market cap of $1.07 billion, a PE ratio of 15.24 and a beta of 1.18.

About McEwen

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.