Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in McEwen Mining Inc (NYSE:MUX)

Connor Clark & Lunn Investment Management Ltd. raised its position in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 66.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 393,719 shares of the basic materials company's stock after buying an additional 157,300 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.74% of McEwen Mining worth $3,659,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Tidal Investments LLC purchased a new position in McEwen Mining during the first quarter worth about $1,348,000. Van ECK Associates Corp increased its position in McEwen Mining by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company's stock worth $19,448,000 after purchasing an additional 67,885 shares during the period. Renaissance Technologies LLC raised its stake in shares of McEwen Mining by 41.3% during the 2nd quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company's stock worth $1,808,000 after buying an additional 57,600 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of McEwen Mining in the 3rd quarter valued at approximately $457,000. Finally, Bank of Montreal Can lifted its holdings in shares of McEwen Mining by 100.1% in the 2nd quarter. Bank of Montreal Can now owns 82,905 shares of the basic materials company's stock valued at $780,000 after buying an additional 41,480 shares during the period. Hedge funds and other institutional investors own 17.03% of the company's stock.

McEwen Mining Price Performance

Shares of McEwen Mining stock traded down $0.14 during trading on Friday, hitting $8.38. 480,662 shares of the company were exchanged, compared to its average volume of 706,357. The firm has a 50 day moving average price of $9.49 and a 200 day moving average price of $9.68. The stock has a market capitalization of $443.47 million, a price-to-earnings ratio of 3.83 and a beta of 1.43. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. McEwen Mining Inc has a fifty-two week low of $5.92 and a fifty-two week high of $12.50.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $52.25 million during the quarter, compared to analysts' expectations of $48.60 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. During the same quarter in the prior year, the company earned ($0.39) earnings per share. On average, equities analysts expect that McEwen Mining Inc will post -0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. HC Wainwright upped their price target on shares of McEwen Mining from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Roth Mkm lowered their target price on shares of McEwen Mining from $12.75 to $12.25 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Finally, StockNews.com upgraded shares of McEwen Mining from a "sell" rating to a "hold" rating in a research report on Friday.

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.