McEwen Mining Inc. (NYSE:MUX) dropped 2.2% during mid-day trading on Wednesday . The company traded as low as $4.28 and last traded at $4.40, with a volume of 1,620,400 shares. The stock had previously closed at $4.50.

Separately, Zacks Investment Research upgraded shares of McEwen Mining from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a research note on Thursday, July 28th.

The stock has a 50 day moving average price of $4.09 and a 200 day moving average price of $2.57. The stock’s market cap is $1.31 billion.

In other news, COO William Alexander Faust sold 150,000 shares of McEwen Mining stock in a transaction on Friday, June 17th. The stock was sold at an average price of $3.50, for a total transaction of $525,000.00. Following the sale, the chief operating officer now directly owns 150,400 shares in the company, valued at approximately $526,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Colin Sutherland bought 15,166 shares of the stock in a transaction dated Tuesday, June 28th. The shares were acquired at an average price of $3.55 per share, for a total transaction of $53,839.30. Following the completion of the purchase, the president now directly owns 470,000 shares in the company, valued at $1,668,500. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in McEwen Mining stock. Bank of Montreal Can raised its position in McEwen Mining Inc. (NYSE:MUX) by 175.2% during the fourth quarter, according to its most recent filing with the SEC. 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.

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