McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX's stock price was up 6.5% during mid-day trading on Friday . The company traded as high as $10.80 and last traded at $10.79. Approximately 469,693 shares were traded during trading, a decline of 30% from the average daily volume of 666,445 shares. The stock had previously closed at $10.13.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, July 11th.
View Our Latest Research Report on McEwen Mining
McEwen Mining Stock Up 7.8 %
The firm's 50 day simple moving average is $9.34 and its 200-day simple moving average is $10.07. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $556.63 million, a price-to-earnings ratio of 6.66 and a beta of 1.44.
McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last released its earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The company had revenue of $47.48 million for the quarter, compared to the consensus estimate of $43.90 million. McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. During the same quarter in the previous year, the company posted ($0.46) EPS. Equities analysts expect that McEwen Mining Inc will post -0.73 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of MUX. Tidal Investments LLC bought a new stake in McEwen Mining in the 1st quarter valued at $1,348,000. Susquehanna Fundamental Investments LLC bought a new position in McEwen Mining in the 1st quarter valued at about $1,023,000. Van ECK Associates Corp lifted its position in McEwen Mining by 3.3% during the second quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company's stock worth $19,448,000 after acquiring an additional 67,885 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of McEwen Mining by 41.3% during the second quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company's stock worth $1,808,000 after acquiring an additional 57,600 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of McEwen Mining in the first quarter valued at approximately $529,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.
About McEwen Mining
(
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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.
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