StockNews.com Downgrades McEwen Mining (NYSE:MUX) to Sell

StockNews.com cut shares of McEwen Mining (NYSE:MUX - Free Report) TSE: MUX from a hold rating to a sell rating in a research report report published on Wednesday morning.

Several other brokerages have also commented on MUX. HC Wainwright dropped their price target on McEwen Mining from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Roth Mkm dropped their price target on McEwen Mining from $12.75 to $12.25 and set a "buy" rating for the company in a research note on Thursday, November 7th.

McEwen Mining Trading Down 6.2 %

NYSE:MUX traded down $0.48 on Wednesday, hitting $7.16. 1,367,857 shares of the stock were exchanged, compared to its average volume of 1,321,857. The stock has a market cap of $378.64 million, a PE ratio of 3.27 and a beta of 1.42. 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 stock has a fifty day moving average of $8.04 and a 200-day moving average of $8.77. McEwen Mining has a fifty-two week low of $5.92 and a fifty-two week high of $12.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in McEwen Mining by 2.1% in the third quarter. Van ECK Associates Corp now owns 2,163,930 shares of the basic materials company's stock valued at $20,125,000 after purchasing an additional 45,410 shares during the last quarter. Tidal Investments LLC boosted its holdings in McEwen Mining by 556.7% in the fourth quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company's stock valued at $7,810,000 after purchasing an additional 850,971 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in McEwen Mining by 369.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company's stock valued at $4,331,000 after purchasing an additional 438,088 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 13,673 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 valued at $3,103,000 after purchasing an additional 5,800 shares during the last quarter. Hedge funds and other institutional investors own 17.03% of the company's stock.

About McEwen Mining

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.