McEwen Mining Inc. (MUX) Trading Down 2.4%
Shares of McEwen Mining Inc. (NYSE:MUX) traded down 2.4% on Thursday . The stock traded as low as $4.23 and last traded at $4.52, with a volume of 4,281,427 shares. The stock had previously closed at $4.63.
Several analysts recently weighed in on the company. TheStreet raised McEwen Mining from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. Rodman & Renshaw upped their target price on McEwen Mining from $1.30 to $2.40 in a research report on Monday, March 14th. Finally, Zacks Investment Research downgraded McEwen Mining from a “buy” rating to a “hold” rating in a research report on Thursday.
The firm’s 50 day moving average price is $3.17 and its 200-day moving average price is $2.15. The company’s market capitalization is $1.40 billion.
In related news, COO William Alexander Faust sold 150,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 150,400 shares of the company’s stock, valued at $526,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Colin Sutherland purchased 15,166 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were 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 approximately $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 shares of McEwen Mining Inc. (NYSE:MUX) by 175.2% during the fourth quarter, according to its most recent Form 13F filing 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 0.35% of McEwen Mining worth $1,113,000 as of its most recent SEC filing.
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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