Millennium Management LLC Sells 75,573 Shares of McEwen Mining Inc (NYSE:MUX)

Millennium Management LLC trimmed its stake in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 16.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 372,195 shares of the basic materials company's stock after selling 75,573 shares during the quarter. Millennium Management LLC owned about 0.73% of McEwen Mining worth $3,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp acquired a new position in shares of McEwen Mining during the second quarter worth approximately $32,000. Banque Cantonale Vaudoise acquired a new position in McEwen Mining during the second quarter worth $78,000. Rathbones Group PLC bought a new position in shares of McEwen Mining in the second quarter valued at $101,000. Paloma Partners Management Co bought a new position in shares of McEwen Mining in the first quarter valued at $117,000. Finally, Marshall Wace LLP acquired a new position in shares of McEwen Mining during the second quarter valued at about $214,000. 17.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, July 11th.

McEwen Mining Stock Down 0.6 %

Shares of NYSE MUX traded down $0.06 during trading on Monday, hitting $10.00. The stock had a trading volume of 457,423 shares, compared to its average volume of 670,152. The firm has a fifty day moving average of $9.14 and a two-hundred day moving average of $10.06. The company has a market capitalization of $510.70 million, a PE ratio of 5.47 and a beta of 1.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21. McEwen Mining Inc has a 12 month low of $5.92 and a 12 month high of $12.50.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.04). McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. The firm had revenue of $47.48 million during the quarter, compared to the consensus estimate of $43.90 million. During the same period in the previous year, the company posted ($0.46) earnings per share. As a group, equities research analysts forecast that McEwen Mining Inc will post -0.73 EPS for the current fiscal year.

McEwen Mining 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.