McEwen Mining Inc. (MUX) Shares Up 8.4%
McEwen Mining Inc. (NYSE:MUX) shares shot up 8.4% during mid-day trading on Wednesday . The company traded as high as $4.25 and last traded at $4.24, with a volume of 3,480,588 shares trading hands. The stock had previously closed at $3.91.
A number of brokerages have recently issued reports on MUX. Zacks Investment Research downgraded McEwen Mining from a “buy” rating to a “hold” rating in a research note on Thursday, July 7th. TheStreet raised McEwen Mining from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th.
The firm’s market cap is $1.28 billion. The stock’s 50-day moving average price is $3.86 and its 200 day moving average price is $2.44.
In related news, COO William Alexander Faust sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 $526,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Colin Sutherland purchased 15,166 shares of McEwen Mining stock in a transaction that occurred on Tuesday, June 28th. The shares were purchased at an average cost of $3.55 per share, with a total value of $53,839.30. Following the transaction, the president now directly owns 470,000 shares of the company’s stock, 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 boosted its stake in shares of 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 institutional investor 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 at the end of the most recent reporting period.
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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