McEwen Mining Inc (NYSE:MUX) Shares Sold by State Street Corp

State Street Corp lowered its position in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 16.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,119,821 shares of the basic materials company's stock after selling 221,114 shares during the period. State Street Corp owned approximately 2.12% of McEwen Mining worth $10,414,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of McEwen Mining during the 3rd quarter valued at about $51,000. Banque Cantonale Vaudoise purchased a new position in McEwen Mining during the second quarter valued at approximately $78,000. Private Advisor Group LLC acquired a new position in McEwen Mining in the third quarter valued at approximately $99,000. PDT Partners LLC purchased a new stake in McEwen Mining in the 3rd quarter worth approximately $101,000. Finally, Rathbones Group PLC acquired a new stake in shares of McEwen Mining during the 2nd quarter worth approximately $101,000. Institutional investors and hedge funds own 17.03% of the company's stock.

McEwen Mining Price Performance

NYSE:MUX traded down $0.13 during trading hours on Friday, reaching $7.92. 265,713 shares of the company were exchanged, compared to its average volume of 653,187. The stock's 50-day moving average is $8.84 and its 200-day moving average is $9.20. McEwen Mining Inc has a twelve month low of $5.92 and a twelve month high of $12.50. The firm has a market cap of $419.17 million, a PE ratio of 3.62 and a beta of 1.43. 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 (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.08). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The firm had revenue of $52.25 million during the quarter, compared to analyst estimates of $48.60 million. During the same period in the prior year, the firm earned ($0.39) earnings per share. On average, sell-side analysts anticipate that McEwen Mining Inc will post -0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MUX. Roth Mkm decreased their target price on shares of McEwen Mining from $12.75 to $12.25 and set a "buy" rating for the company in a research note on Thursday, November 7th. HC Wainwright upped their price objective on shares of McEwen Mining from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, StockNews.com cut McEwen Mining from a "hold" rating to a "sell" rating in a research report on Saturday, November 30th.

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.