McEwen Mining Inc. (MUX) Shares Down 2.7%
McEwen Mining Inc. (NYSE:MUX)’s share price was down 2.7% on Thursday . The stock traded as low as $4.28 and last traded at $4.30, with a volume of 2,775,685 shares changing hands. The stock had previously closed at $4.42.
Separately, Zacks Investment Research upgraded shares of McEwen Mining from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research report on Thursday, July 28th.
The firm has a 50-day moving average price of $4.25 and a 200 day moving average price of $2.70. The firm has a market capitalization of $1.30 billion and a PE ratio of 145.33.
The business also recently declared a semiannual dividend, which will be paid on Monday, August 29th. Stockholders of record on Wednesday, August 24th will be given a $0.005 dividend. This represents a dividend yield of 0.23%. The ex-dividend date is Monday, August 22nd.
In related news, President Colin Sutherland purchased 15,166 shares of the stock in a transaction dated Tuesday, June 28th. The stock was purchased at an average price of $3.55 per share, with a total value of $53,839.30. Following the transaction, the president now directly owns 470,000 shares in the company, valued at $1,668,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO William Alexander Faust sold 150,000 shares of McEwen Mining stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $3.50, for a total value of $525,000.00. Following the completion of the transaction, the chief operating officer now directly owns 150,400 shares of the company’s stock, valued at approximately $526,400. The disclosure for this sale 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 (SEC). The fund 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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