Shares of McEwen Mining Inc. (NYSE:MUX) dropped 4.8% during trading on Friday . The company traded as low as $4.56 and last traded at $4.56, with a volume of 2,349,875 shares. The stock had previously closed at $4.79.

Separately, Zacks Investment Research upgraded McEwen Mining from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a report on Thursday, July 28th.

The stock has a market capitalization of $1.37 billion and a price-to-earnings ratio of 152.33. The company has a 50 day moving average price of $4.35 and a 200-day moving average price of $2.80.

The firm also recently declared a semiannual dividend, which will be paid on Monday, August 29th. Shareholders of record on Wednesday, August 24th will be given a $0.005 dividend. The ex-dividend date is Monday, August 22nd. This represents a yield of 0.23%.

In other McEwen Mining news, President Colin Sutherland purchased 15,166 shares of the firm’s stock in a transaction on Tuesday, June 28th. The shares were purchased at an average price of $3.55 per share, for a total transaction of $53,839.30. Following the completion of the transaction, the president now owns 470,000 shares in the company, valued at approximately $1,668,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William Alexander Faust sold 150,000 shares of McEwen Mining 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 transaction, the chief operating officer now owns 150,400 shares in the company, 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 raised its stake in McEwen Mining Inc. (NYSE:MUX) by 175.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 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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