McEwen Mining Inc. (MUX) Shares Down 2.2%
Shares of McEwen Mining Inc. (NYSE:MUX) were down 2.2% during mid-day trading on Monday . The stock traded as low as $3.57 and last traded at $3.57, with a volume of 1,907,334 shares trading hands. The stock had previously closed at $3.65.
Separately, Zacks Investment Research raised shares of McEwen Mining from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a report on Thursday, July 28th.
The stock’s 50 day moving average is $4.07 and its 200-day moving average is $3.17. The company has a market cap of $1.11 billion, a PE ratio of 123.67 and a beta of 0.64.
The business also recently declared a semiannual dividend, which was paid on Monday, August 29th. Stockholders of record on Wednesday, August 24th were given a $0.005 dividend. This represents a dividend yield of 0.23%. The ex-dividend date was Monday, August 22nd. McEwen Mining’s dividend payout ratio (DPR) is 33.34%.
In related news, President Colin Sutherland purchased 15,166 shares of McEwen Mining stock in a transaction dated Tuesday, June 28th. The stock was acquired at an average cost of $3.55 per share, with a total value of $53,839.30. Following the completion of the transaction, the president now directly owns 470,000 shares of the company’s stock, valued at $1,668,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.60% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Group LTD increased its position in McEwen Mining by 48.1% in the first quarter. BlackRock Group LTD now owns 447,527 shares of the company’s stock worth $842,000 after buying an additional 145,297 shares in the last quarter. JPMorgan Chase & Co. increased its position in McEwen Mining by 15.1% in the first quarter. JPMorgan Chase & Co. now owns 3,245,258 shares of the company’s stock worth $6,101,000 after buying an additional 425,111 shares in the last quarter. UBS Group AG increased its position in McEwen Mining by 628.2% in the first quarter. UBS Group AG now owns 628,806 shares of the company’s stock worth $1,182,000 after buying an additional 542,456 shares in the last quarter. Geode Capital Management LLC increased its position in McEwen Mining by 12.2% in the first quarter. Geode Capital Management LLC now owns 1,255,309 shares of the company’s stock worth $2,359,000 after buying an additional 136,964 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in McEwen Mining by 332.3% in the first quarter. Renaissance Technologies LLC now owns 1,338,909 shares of the company’s stock worth $2,517,000 after buying an additional 1,029,209 shares in the last quarter. 26.09% of the stock is owned by institutional investors and hedge funds.
McEwen Mining Company Profile
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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