McEwen Mining Inc. (MUX) Trading Down 9.8%
Shares of McEwen Mining Inc. (NYSE:MUX) dropped 9.8% during mid-day trading on Wednesday . The stock traded as low as $3.82 and last traded at $3.96, with a volume of 4,389,588 shares changing hands. The stock had previously closed at $4.39.
MUX has been the topic of several research analyst reports. TheStreet upgraded shares of McEwen Mining from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. Zacks Investment Research cut shares of McEwen Mining from a “buy” rating to a “hold” rating in a report on Thursday, July 7th.
The company’s 50-day moving average is $3.59 and its 200-day moving average is $2.32. The company’s market cap is $1.11 billion.
In related news, COO William Alexander Faust sold 150,000 shares of McEwen Mining stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $3.50, for a total transaction of $525,000.00. Following the completion of the sale, the chief operating officer now owns 150,400 shares of the company’s stock, valued at approximately $526,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Colin Sutherland bought 15,166 shares of McEwen Mining stock in a transaction that occurred on Tuesday, June 28th. The shares were bought at an average cost of $3.55 per share, with a total value of $53,839.30. Following the acquisition, the president now directly owns 470,000 shares in the company, valued at approximately $1,668,500. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in McEwen Mining stock. Bank of Montreal Can increased its stake in McEwen Mining Inc. (NYSE:MUX) by 175.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,049,958 shares of the company’s stock after buying an additional 668,399 shares during the period. Bank of Montreal Can owned about 0.35% of McEwen Mining worth $1,113,000 as of its most recent filing with the SEC.
McEwen Mining Inc is a mining and minerals exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. Its segments include Mexico, Argentina and the United States. It classifies its mineral properties into Production Properties, Advanced-Stage Properties and Exploration Properties.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.