U S Global Investors Inc. purchased a new position in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 328,612 shares of the basic materials company's stock, valued at approximately $2,557,000. U S Global Investors Inc. owned about 0.62% of McEwen Mining at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of MUX. Quarry LP purchased a new stake in shares of McEwen Mining during the 3rd quarter worth $51,000. Private Advisor Group LLC increased its stake in shares of McEwen Mining by 18.8% in the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after purchasing an additional 2,000 shares in the last quarter. Sprott Inc. purchased a new position in McEwen Mining in the 4th quarter valued at about $100,000. PDT Partners LLC purchased a new stake in McEwen Mining during the 3rd quarter valued at about $101,000. Finally, Virtu Financial LLC lifted its position in McEwen Mining by 32.3% during the third quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company's stock worth $154,000 after buying an additional 4,046 shares in the last quarter. 17.03% of the stock is owned by hedge funds and other institutional investors.
McEwen Mining Stock Performance
Shares of MUX stock traded down $0.04 during mid-day trading on Tuesday, hitting $6.66. 677,292 shares of the stock were exchanged, compared to its average volume of 930,281. The stock's fifty day simple moving average is $7.91 and its two-hundred day simple moving average is $8.72. The stock has a market capitalization of $352.22 million, a price-to-earnings ratio of 3.04 and a beta of 1.42. McEwen Mining Inc has a 12-month low of $6.46 and a 12-month high of $12.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17.
Analysts Set New Price Targets
MUX has been the topic of several recent analyst reports. HC Wainwright decreased their target price on shares of McEwen Mining from $19.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. StockNews.com lowered McEwen Mining from a "hold" rating to a "sell" rating in a research note on Wednesday, February 19th. Finally, Roth Mkm dropped their target price on shares of McEwen Mining from $12.75 to $12.25 and set a "buy" rating for the company in a report on Thursday, November 7th.
Check Out Our Latest Analysis on McEwen Mining
McEwen Mining Company Profile
(
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.
Recommended Stories
Before you consider McEwen Mining, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and McEwen Mining wasn't on the list.
While McEwen Mining currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
