Van ECK Associates Corp Lowers Position in McEwen Mining Inc (NYSE:MUX)

Van ECK Associates Corp lessened its holdings in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,105,981 shares of the basic materials company's stock after selling 57,949 shares during the period. Van ECK Associates Corp owned approximately 3.98% of McEwen Mining worth $16,385,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MUX. Connor Clark & Lunn Investment Management Ltd. increased its position in McEwen Mining by 66.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company's stock worth $3,659,000 after purchasing an additional 157,300 shares during the last quarter. Empowered Funds LLC bought a new position in McEwen Mining during the fourth quarter valued at $788,000. GSA Capital Partners LLP bought a new position in McEwen Mining during the third quarter valued at $457,000. Paloma Partners Management Co bought a new position in McEwen Mining during the third quarter valued at $327,000. Finally, Point72 Asset Management L.P. bought a new position in McEwen Mining during the third quarter valued at $267,000. Institutional investors own 17.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of McEwen Mining from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Roth Mkm cut their price objective on shares of McEwen Mining from $12.75 to $12.25 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Finally, HC Wainwright cut their price objective on shares of McEwen Mining from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th.

McEwen Mining Trading Down 0.2 %

Shares of MUX traded down $0.02 during trading hours on Wednesday, reaching $7.51. 573,374 shares of the company traded hands, compared to its average volume of 988,187. The firm has a market cap of $397.57 million, a price-to-earnings ratio of 3.43 and a beta of 1.42. McEwen Mining Inc has a 12-month low of $5.92 and a 12-month high of $12.50. 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's fifty day moving average price is $8.12 and its 200 day moving average price is $8.80.

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.