Bank of Montreal Can Has $306,000 Stock Holdings in McEwen Mining Inc (NYSE:MUX)

Bank of Montreal Can decreased its stake in shares of McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 66.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 39,330 shares of the basic materials company's stock after selling 79,336 shares during the period. Bank of Montreal Can owned 0.07% of McEwen Mining worth $306,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of McEwen Mining by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 484,792 shares of the basic materials company's stock valued at $3,774,000 after acquiring an additional 13,673 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 purchasing an additional 5,800 shares in the last quarter. U S Global Investors Inc. bought a new stake in shares of McEwen Mining during the fourth quarter worth $2,557,000. Tidal Investments LLC raised its holdings in shares of McEwen Mining by 1.8% in the third quarter. Tidal Investments LLC now owns 152,859 shares of the basic materials company's stock valued at $1,422,000 after buying an additional 2,632 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in McEwen Mining during the 4th quarter worth about $788,000. Institutional investors and hedge funds own 17.03% of the company's stock.

McEwen Mining Stock Performance

Shares of MUX stock traded down $0.12 on Friday, reaching $7.65. The stock had a trading volume of 396,277 shares, compared to its average volume of 708,924. McEwen Mining Inc has a 12 month low of $6.38 and a 12 month high of $12.47. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $412.33 million, a price-to-earnings ratio of 3.49 and a beta of 1.21. The firm's 50-day moving average is $7.49 and its two-hundred day moving average is $8.24.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last posted its quarterly earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The business had revenue of $33.52 million during the quarter, compared to the consensus estimate of $32.20 million. On average, research analysts expect that McEwen Mining Inc will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on MUX. StockNews.com lowered shares of McEwen Mining from a "hold" rating to a "sell" rating in a research note on Wednesday, February 19th. Roth Mkm dropped their price objective on 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, HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of McEwen Mining in a research report on Wednesday, March 19th.

McEwen Mining Company 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.