Renaissance Technologies LLC raised its holdings in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 41.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,910 shares of the basic materials company's stock after purchasing an additional 57,600 shares during the period. Renaissance Technologies LLC owned about 0.39% of McEwen Mining worth $1,808,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp acquired a new position in shares of McEwen Mining in the 2nd quarter valued at approximately $32,000. Banque Cantonale Vaudoise acquired a new position in shares of McEwen Mining in the 2nd quarter valued at approximately $78,000. Rathbones Group PLC acquired a new position in shares of McEwen Mining in the 2nd quarter valued at approximately $101,000. Paloma Partners Management Co acquired a new position in shares of McEwen Mining in the 1st quarter valued at approximately $117,000. Finally, Custom Index Systems LLC acquired a new position in shares of McEwen Mining in the 2nd quarter valued at approximately $275,000. 17.03% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered McEwen Mining from a "hold" rating to a "sell" rating in a research report on Thursday, July 11th.
View Our Latest Stock Report on MUX
McEwen Mining Stock Performance
Shares of NYSE MUX traded up $0.05 during trading on Friday, reaching $9.34. The stock had a trading volume of 458,004 shares, compared to its average volume of 672,654. McEwen Mining Inc has a one year low of $5.92 and a one year high of $12.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.21 and a current ratio of 1.68. The stock has a market cap of $476.99 million, a PE ratio of 5.77 and a beta of 1.44. The firm's 50 day moving average price is $9.06 and its two-hundred day moving average price is $10.01.
McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.04). McEwen Mining had a net margin of 46.32% and a return on equity of 18.08%. The firm had revenue of $47.48 million during the quarter, compared to the consensus estimate of $43.90 million. During the same quarter last year, the firm posted ($0.46) earnings per share. On average, research analysts forecast that McEwen Mining Inc will post -0.81 earnings per share for the current fiscal year.
About McEwen Mining
(
Free Report)
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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